EURUSD and GBPUSD jump on BREXIT Deal Draft News
This is a BREXIT Draft Deal news rally and it can change anytime . if you got it in on the rally you might want to take your profits now and either stay out or Short EURUSD but not GBPUSD. GBPUSD has rallied almost 700 pips in a matter of 4 trading days . That's extremely steep to be sustained even with any major geopolitical or economic news
EURUSD jumped over 60 pips and GBPUSD jumped over 180 pips while the Dollar dropped almost 35 basis points
As per Bloomberg & FXStreet:
The EU and the UK are reportedly closing on a draft Brexit deal. The drat heavily depends on the support of the Democratic Unionist Party (DUP) for the accord.
Bloomberg is reporting from sources "with knowledge of the talks." An official announcement is still awaited.
EURUSD jumped over 60 pips and GBPUSD jumped over 180 pips while the Dollar dropped almost 35 basis points
As per Bloomberg & FXStreet:
The EU and the UK are reportedly closing on a draft Brexit deal. The drat heavily depends on the support of the Democratic Unionist Party (DUP) for the accord.
Bloomberg is reporting from sources "with knowledge of the talks." An official announcement is still awaited.
Comment:
DUP doesn't seem to be totally on board at the moment and talks are still in the final phase. So this is rumor and take it with a grain of salt until when its actually done. it was reported by Bloomberg & Reuters and now by CNBC but they are cautious about the Deal being already done. They all mention that its moving in positive direction and has high chances of a deal
Comment:
right now EURUSD and GBPUSD are being driven by this rumor . It will be volatile until things settle down and we know if the BREXIT Deal is done or not
Comment:
DIRECTLY FROM BLOOMBERG NEWS:
U.K. and European Union negotiators are closing in on a draft Brexit deal amid optimism there could be a breakthrough before the end of Tuesday, two EU officials said.
They cautioned talks haven’t yet finished, and there could be problems hitting the midnight deadline. But there are clear signs that a legal text is close to being ready.
The aim would be to present the draft to national delegations on Wednesday morning, an EU diplomat said. The pound surged, climbing as much as 1.2% to $1.2756, the highest level in nearly four months.
Prime Minister Boris Johnson will still need to secure the agreement of the U.K. Parliament. Negotiators have approached, and even managed to strike, a Brexit deal before -- only to see it shot down in London. Any concession Johnson makes to secure a deal in Brussels risks incurring the opposition of the Democratic Unionist Party, whose support will be vital for any agreement to pass.
All time stamps below are Brussels time (CET).
Key developments:
EU, U.K. negotiators said to be closing in on draft Brexit deal
Pound traders are gearing up for a nail-biting finish to Brexit
Johnson still needs to persuade his Northern Irish allies
Negotiators Closing In on Draft Brexit Deal (4:30 p.m. CET --Brussels time)
A dramatic breakthrough in negotiations could come within hours after a productive day of intensive talks in Brussels so far. The British side submitted revised proposals for a deal which appear to have unlocked progress.
U.K. and European Union negotiators are closing in on a draft Brexit deal amid optimism there could be a breakthrough before the end of Tuesday, two EU officials said.
They cautioned talks haven’t yet finished, and there could be problems hitting the midnight deadline. But there are clear signs that a legal text is close to being ready.
The aim would be to present the draft to national delegations on Wednesday morning, an EU diplomat said. The pound surged, climbing as much as 1.2% to $1.2756, the highest level in nearly four months.
Prime Minister Boris Johnson will still need to secure the agreement of the U.K. Parliament. Negotiators have approached, and even managed to strike, a Brexit deal before -- only to see it shot down in London. Any concession Johnson makes to secure a deal in Brussels risks incurring the opposition of the Democratic Unionist Party, whose support will be vital for any agreement to pass.
All time stamps below are Brussels time (CET).
Key developments:
EU, U.K. negotiators said to be closing in on draft Brexit deal
Pound traders are gearing up for a nail-biting finish to Brexit
Johnson still needs to persuade his Northern Irish allies
Negotiators Closing In on Draft Brexit Deal (4:30 p.m. CET --Brussels time)
A dramatic breakthrough in negotiations could come within hours after a productive day of intensive talks in Brussels so far. The British side submitted revised proposals for a deal which appear to have unlocked progress.
Comment:
EU REJECTS NEW U.K PROPOSAL
Boris Johnson news – live: EU tells UK its Brexit plans 'not good enough' and sets 14-hour deadline for deal at summit
Boris Johnson news – live: EU tells UK its Brexit plans 'not good enough' and sets 14-hour deadline for deal at summit
Comment:
FROM INDEPENDENT NEWS:
Boris Johnson’s government has rejected claims a Brexit deal cannot be negotiated in time for this week’s EU leaders’ summit after the Finnish prime minister warned there was no “practical or legal way” to find an agreement by then.
The EU’s chief negotiator Michel Barnier has reportedly told EU27 ministers in Luxembourg that the latest UK proposals were “not yet good enough”. Barnier is said to have told ministers an agreement would have to be reached by the end of Tuesday.
It comes as Emmanuel Macron is said to have raised the possibility of a “technical extension” in a call with the PM. British negotiators, meanwhile, have put forward new proposals in bid to break the deadlock with the European Commission.
KEY POINTS
-- Barnier says UK proposals 'not yet good enough' and sets new deadline
-- UK set to offer 'fresh proposals' to break deadlock, say reports
-- Macron raises prospect of 'technical extension' in call with PM
-- Johnson wins his first vote in the Commons
-- Rees-Mogg says Saturday sitting depends on Brexit talks
Boris Johnson’s government has rejected claims a Brexit deal cannot be negotiated in time for this week’s EU leaders’ summit after the Finnish prime minister warned there was no “practical or legal way” to find an agreement by then.
The EU’s chief negotiator Michel Barnier has reportedly told EU27 ministers in Luxembourg that the latest UK proposals were “not yet good enough”. Barnier is said to have told ministers an agreement would have to be reached by the end of Tuesday.
It comes as Emmanuel Macron is said to have raised the possibility of a “technical extension” in a call with the PM. British negotiators, meanwhile, have put forward new proposals in bid to break the deadlock with the European Commission.
KEY POINTS
-- Barnier says UK proposals 'not yet good enough' and sets new deadline
-- UK set to offer 'fresh proposals' to break deadlock, say reports
-- Macron raises prospect of 'technical extension' in call with PM
-- Johnson wins his first vote in the Commons
-- Rees-Mogg says Saturday sitting depends on Brexit talks
Comment:
UK-- The TIMES is reporting that :
Brexit to be delayed until next year even if a deal is announced tonight - The Times
According to The Times, Germany has warned that Brexit would need to be delayed until next year even if the United Kingdom (UK) and the European Union (EU) were to reach an agreement before the end of the day on Tuesday.
"Optimism has grown on the European side that Boris Johsnon will table a new proposal by midnight, paving the way for a breakthrough at an EU summit on Thursday," wrote The Times' Bruno Waterfield.
"The prime minister has been told, though, that ironing out the details of his complicated Northern Ireland plan would take “some two more months”. It sets up a scenario in which he would have to abandon his promise to take Britain out of the EU “do or die” on Hallowe’en and agree an extension to Article 50."
The GBP/USD pair largely ignored these headlines and was last seen trading at 1.2727, adding 0.95% on a daily basis.
Brexit to be delayed until next year even if a deal is announced tonight - The Times
According to The Times, Germany has warned that Brexit would need to be delayed until next year even if the United Kingdom (UK) and the European Union (EU) were to reach an agreement before the end of the day on Tuesday.
"Optimism has grown on the European side that Boris Johsnon will table a new proposal by midnight, paving the way for a breakthrough at an EU summit on Thursday," wrote The Times' Bruno Waterfield.
"The prime minister has been told, though, that ironing out the details of his complicated Northern Ireland plan would take “some two more months”. It sets up a scenario in which he would have to abandon his promise to take Britain out of the EU “do or die” on Hallowe’en and agree an extension to Article 50."
The GBP/USD pair largely ignored these headlines and was last seen trading at 1.2727, adding 0.95% on a daily basis.
Comment:
DUP leader Arlene Foster denies report that her party has agreed to new plan for consent mechanism:
" EU sources' are talking nonsense. Discussions continue. Needs to be a sensible deal which unionists and nationalists can support "
" EU sources' are talking nonsense. Discussions continue. Needs to be a sensible deal which unionists and nationalists can support "
Comment:
Irish PM Varadkar tells Irish MPs deal possible, but he's not sure when
Comment:
President of the European council Donald Tusk says 'everything should be clear' by tonight " Theoretically in seven to eight hours everything should be clear "
Comment:
The Guardian:
Brexit: Irish PM hints extra EU summit might be needed because 'many issues' still to be resolved
Brexit: Irish PM hints extra EU summit might be needed because 'many issues' still to be resolved
Comment:
Boris Johnson 'will ask EU for extension' if no Brexit deal by Saturday
Brexit secretary suggests PM will send letter to Brussels in absence of agreement
Brexit secretary suggests PM will send letter to Brussels in absence of agreement
Comment:
Key DUP member voices concerns over Brexit deal
Sammy Wilson says any plan must have consent from both unionists and nationalists
Sammy Wilson says any plan must have consent from both unionists and nationalists