Thursday July 12, 2018 - 14:07:08 GMT
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Brexit Developments Continue To Drive Sterling
John M. Bland, MBA, co-founder, Global-View.com
U.K. Prime Minister May On The Defensive PM Theresa May remains on the defensive as she serves as head of a party divided. Some feel she might have emerged from the latest Brexit-triggered crisis safely as U.K. prime minister. However “hard Brexit” lawmakers were warning that she could split the Conservative Party when she tries to get her plan through Parliament. Two of her most senior ministers resigned in one day. This was an event without parallel in recent decades. May’s plan is seen as a “soft Brexit” proposal that would keep Britain close to the European Union on trade and regulations. If she cannot get full support Parliamentary support from her party, she will have to elicit support from the opposition. An attempt to woo Labor Party lawmakers Monday outraged dissident Conservatives. She is walking a thin line.
The government "White Paper" on the agreement at Chequers published on Thursday contained no surprises, unsurprisingly, it was an outline for a "soft Brexit". The EU reaction to the proposal will be critical. A key factor is that no one really wants to push May out, as handling the negotiations with the EU is no picnic. Both the UK and EU are realizing they need one another and negotiations are evolving into a soft exit. Curiously some are saying the Cabinet upheaval could have strengthened her hand. I would call her situation "fluid". Those who want to steer clear of this situation will soon realize that they might not have a second go round with the EU. Odds they will be stuck whatever agree upon in the first accord.
GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium
Mon 16 July 2018
A 12:30 US- Retail Sales
Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales
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