Is today the day?

Today’s news headlines:

‘Britain and EU poised to announce Christmas Eve Brexit deal’. Overnight, Britain and the EU have been finalising a post-Brexit free trade agreement, which would stop the UK from crashing out of the EU’s single market on January 1st under WTO rules. Boris Johnson is expected to announce the deal early today after last-minute negotiations with his European Commission counterpart, Ursula von der Leyen. The deal will preserve tariff-free trade between the two sides for goods but has been described by many as a ‘thin’ trade deal. Nevertheless, the agreement will provide the platform for the UK’s future relations with the EU member states. (Financial Times)

‘Democrats back Donald Trump’s call for more generous stimulus bill’. Democratic leaders, headed by House Speaker Nancy Pelosi, have supported the President’s call to increase the size of the US fiscal stimulus package in order to support the average American and help boost the pandemic-hit economy. Democrats like Elizabeth Warren argued that they had always petitioned for larger direct payments but had been held back by senior Republicans who were less willing to open the purse strings. (Financial Times)

Today's events, rates, and data 

  • Shares in Asia climbed overnight as global sentiment improved on the back of positive Brexit developments. Equity futures in the US and EU are also set for gains today after the Nasdaq set a new intraday high overnight. Treasury yields have also been climbing since yesterday, whilst the Bloomberg Dollar Index continues to march lower. This morning, Sterling targets the $1.36 handle against the Greenback, if and when a Brexit deal is announced.

Today's events

No data events today

Interbank rates

GBP/USD: 1.3570
GBP/EUR: 1.1115
EUR/USD: 1.2205
USD/CAD: 1.2850

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