According to planned statements to be made by UK Prime Minister Theresa May on Monday which have been acquired by Reuters, the kingdom sees an intense week of Brexit talks as PM May races against the clock to secure a divorce deal from the EU before her own party can finish getting together the needed signatures to call for a no-confidence vote and cast out PM May.
Key quotes
May has had a tumultuous few days since unveiling a draft divorce deal with the European Union on Wednesday last week, with several ministers, including her Brexit minister, resigning and some of her own members of parliament seeking to oust her.
The British leader has vowed to fight on, on Sunday warning that toppling her risked delaying Britain’s EU exit, and has said the future partnership agreement will help ensure the government delivers on the 2016 Brexit vote.
“We now have an intense week of negotiations ahead of us in the run-up to the special European Council on Sunday,” May will say in a speech to the CBI business lobby group’s annual conference on Monday, according to advance extracts.
“During that time I expect us to hammer out the full and final details of the framework that will underpin our future relationship and I am confident that we can strike a deal at the council that I can take back to the House of Commons.”
May will say the withdrawal agreement set out last week, which has been strongly criticised by lawmakers on both sides of the EU debate, is a good deal for Britain.
Speaking at the same conference, opposition Labour leader Jeremy Corbyn will describe the deal as “a botched, worst-of-all-worlds deal which is bad for Britain, leaving the country in an indefinite halfway house without a real say”.
Corbyn, who has said his party will not support May’s deal when parliament is asked to vote on it, will say Labour’s plan for Brexit would include a new comprehensive and permanent customs union, and a “strong single market relationship”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.