EU to Publish Draft Brexit Treaty

The European Union will challenge Theresa May on Wednesday when it publishes a draft Brexit treaty that ignores some of the U.K. prime minister’s most important demands.The bloc is planning to set out in legal detail how it expects the U.K. to depart in just over one year’s time, and the terms of a transition period that will follow, according a person familiar with the matter. A German official added that the 27 members oppose an extension of the transitional period.Talks on the transitional phase that businesses want to help smooth the U.K.’s withdrawal are continuing but the EU’s 100-page draft agreement is likely to exclude May’s proposals for how that phase should work, the person said.

Source: EU Stokes Brexit Tensions With 100-Page Draft Exit Deal – Bloomberg

Will Dollar Rally or Fade on Fed Powell’s Comments?

Spotlight on Powell

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam