UK/EU may reach deal by the end of the week
|Brexit talks remain stalled.
On Wednesday, the EU’s chief negotiator pushed back against recent optimism and it is evident that the EU is not being rushed into a decision.
Analysts at ANZ Bank noted that France is continuing to take a hard line, preferring no deal to a sub-optimal one.
''Ahead of the EU Summit next week, progress needs to be made. Similarly, progress needs to be made in the stand-off between Poland, Hungary and the EU over “rule of law” conditionality attached to EU financial disbursements. A decision to veto the EU budget would prompt a structural crisis and undermine recovery.''
However, the UK and EU may reach a deal by the end of the week, according to a BBC political editor, Laura Kuenssberg.
''It seems like the two sides are just about ready to commit.''
''But, despite nudges and winks around the place that the process is nearly there, despite the solid reasons that point to a finale in the next few days, there is still a question about whether the two sides have ever come to understand each other,'' Kuenssberg wrote.
''One minister involved in one of the tricky aspects of the talks is absolutely adamant the EU was still being downright unreasonable.''
Market implications
Bears are waiting to pounce on yet further delays and the following is an analysis of potential downside swing trading opportunities unfolding at weekly resistance:
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