FOMC, Canada CPI, RBA monetary policy meeting, more Brexit updates - lots of things happening this week! Out of the many things set to happen in the market in the coming days, we’d like to ask you:
What are you looking forward to this week?
This could be trading-related or could be completely something else. What is it that you’re excited about this week? Tell us and spread the good vibes!
P.S. Don’t forget to join our mini giveaway! It’s tiered so the higher trust level you have, the higher the e-gift card prize.
I would agree that recent Brexit-related events have been quite unbelievable and are a major issue to monitor this week, but I would not call it a “Comedy”.
Divorcing from the EU is an incredibly major change in an enormously wide range of issues and not just in economic prospects. The lives of millions of people will be deeply affected by its outcome both in Britain and in the EU.
Given the enormity of the change and the uncertainty of the impact of the various options, it is hardly surprising that there are deep divisions amongst the lawmakers in the UK parliament that exceed party loyalties. It is also worth remembering that whatever outcome ensues, the UK and EU will have to live with it for years to come. So the consequences of any aspect ,such as the UK/Northern Ireland border, are enormous if the terms of any agreement are unclear, ambiguous or open-ended.
Even though it may seem that everything is left to the last minutes (almost literally), it is worth remembering that Mrs May’s agreement covers a huge range of issues that are not being challenged by either party. But, naturally, the question of the future nature of a national border between two large economically and politically powerful entities is always extremely critical.
But it is sad to see that the Brexit process seems to also expose both the good and the bad sides of politics. The ultimate aim of a democratically elected parliament is to protect and enhance the interests of the nation that elected them in the best possible way. But we are seeing many signs of activity that is aimed purely at scoring political advantage in spite of its impact on the nation’s best interests rather than because of it.
But this week’s interesting Brexit issues will surely include:
do we see another vote on Mrs M’s deal
What kind of postponement will be asked for in the EU summit on Thursday
And perhaps the most interesting and decisive event: How does the EU respond to the postponement request and on what terms - and whether any EU nation vetoes any postponement and forces a non-deal Brexit on 29th!
You are absolutely right concerning the three main events you mentioned and the fact, that some people try to gain political advantage, but for external , neutral observers there remains the question why so many inteligent people cant find together a good solution for their country.
Absolutely! I think that goes for the internal observers, too!
For example, I am totally baffled how Mrs M could have taken the agreement before parliament when so many of her own MPs were against it! Surely she must have been aware of this major opposition to her plan at the time?
And if there is such widespread dissent amongst the MPs in the same party why was this not addressed during the past two years as the deal was being negotiated? Were they being kept in the dark until it was a “done deal”? Or were they simply ignored by a headstrong PM? Or did the issue of N.Ireland only become apparent in the very late stages of the process?
Either way, there is much that could and should be looked into to avoid such troubles during the forthcoming trade agreement negotiations. if, that is, Brexit does actually happen!!!
I am only too aware of how ridiculous it all looks to outsiders, living myself in “Euroland”. Watching our news broadcasts and satire programmes here is really quite embarrassing and actually very painful as an ex-pat!
But, on the other hand, although the British parlliament behaviour may seem a joke, it actually functions, and has functioned for a very long time, in a manner that does allow all views to be expressed and challenged at the highest level - and in full view of the general public.
I’m looking forward to getting back to my trading. It’s a new strategy for me, and somehow more “independent” (if that makes sense ). I’m both very excited and anxious. I really hope I can make it work!
I should have read this earlier. I was looking for exactly this info.
As for this week, my priority was just to get looking at charts a bit more. I’ve fallen off the wagon a bit. You can do all the reading in the world, but you need to apply what you’ve learned and take stock in the out comes. Can’t be afraid to fail.
It certainly seems that Brexit is dominating the stage at the moment - and with ever increasing uncertainty about how it is going to end, when it is going to end or even if it is going to end!
As if it were not enough uncertainty that the UK parliament cannot reach agreement on its leaving terms, it seems the EU in Brussels right now is struggling to agree on the length and terms of an extension to the leaving date. Last I heard their meetings have overrun by 2 hours already…
I guess there are two ways one can approach one’s charts. Either we can work on the assumption that all relevant info/events will feed into the price anyway so price alone is all one needs, or we can study the fundamentals and build our own view of what we think should happen and then watch the charts for confirmation that it is happening as anticipated - or not! Or in briefer words: mechanical or discretionary charting.
Well we are approaching the end of this week and despite all the daily drama surrounding Brexit has it really moved forward at all?
It is really so surprising that all the decision-makers in the UK and the EU cannot, between them, find an acceptable compromise that all sides can agree to concerning the EU/UK border in Ireland. Afterall, that is the only major issue within the current proposed agreement that is creating this impasse.
So where are we now at the end of this week? Seems we have four scenarios:
Mrs M’s agreement is accepted in parliament next week and the UK has up to the 22. May to pass the necessary “technical” legislation to process its implementation.
The agreement is again rejected next week and the UK has up to the 12. April to decide what to do next. This can then be divided into the three following options:
2a) Britain leaves the EU without an agreement before the 22. May.
2b) Britain unilaterally cancels Article 50 and remains in the EU
2c) Britain asks for a long extension to revise the whole exit issue again. This gets complicated because it will most likely involve a new general election or referendum, etc and will extend well beyond the 22.May deadline. This means this option (of an extended period) will require the UK to participate in the EU elections starting after the 22.May including selecting candidates and setting up the voting infrastructure for it to take place.
There are huge demonstrations in London this weekend and several reliable polls seem to indicate that a significant majority of the population would prefer to stay in the EU rather than exit with either no deal or with Mrs M’s deal.
I cannot help wondering if this is a case of the “Emporer’s clothing” where decisions cannot be reached because, underlying it all, everyone suspects Brexit was just a con by an active minority and therefore a huge mistake, and that the UK should stay in the EU - but it is too late or too embarrassing politically for the UK government to actually admit it?
The more and more I follow this, the more I feel this is a big issue. Politicians are trying to save face but don’t want to come out and say that decisions in the past we’re wrong. So this week May’s agreement was rejected again, so now the UK has some more decisions to make. As I mentioned in another thread, I think all decision makers are looking for ways to come back towards the middle without actually saying so publicly. So all this inaction has been a means to save face, but only by making it seem like the politicians were forced to do so.
Is the EU election issue an issue only because with the UKs government wanting to leave, having to take part in an election of something you don’t want to be a part of any longer, appears backwards. Couldn’t the UK take part in the vote and then leave anyway, when and if the decision of leaving actually occurs?
). I’m both very excited and anxious. I really hope I can make it work! 