Brexit back in focus as Supreme Court decision expected this week…
Brexit is back on the agenda this week with a key decision expected from the highest court in the UK – the Supreme Court. In addition, many will be eyeing developments between the UK & EU negotiators following increased potential for a revised deal after positive comments came out of the EU camp late last week.
Firstly, and most importantly, the next few days might deliver a decision which could end up proving a huge stumbling block to PM Johnson’s strategy. The Supreme Court is set to rule on whether Johnson acted unlawfully in suspending Parliament. It’s unsure when the decision will exactly arrive but if Johnson is found to have acted unlawfully then it’s highly likely Parliament is immediately recalled which could open up a can of worms for the under pressure Prime Minister.
In addition, many will be paying close attention to any positive comments out from either of the UK or EU negotiating sides. This follows on from a Sky News interview with EU Commission President, Jean Claude Juncker. In the interview Juncker stated that he feels a deal will be struck before the 31st October and implied there would be flexibility on the Irish backstop if worthy alternatives were proposed.
Today’s calendar is light, German manufacturing & services flash PMI will be the highlight while US PMIs will highlight the afternoon session.
Written by Viv Savani. 8:50am, September 23rd 2019
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8:22am, February 4th 2020
Sterling sinks as no-deal Brexit concerns arise once again…!