Pivotal week for Brexit
Today’s news headlines:
‘Sunak plays down risks of ‘no deal’ Brexit as crunch looms’. Speaking on the BBC’s Andrew Marr show on Sunday, the UK Chancellor played down the economic impact of a no-deal Brexit, even as negotiators make a push to get the agreement over the line this week. Talks remain stuck on the issue of fisheries and a ‘level playing field’ for competition between businesses. One EU official commented that there would be a ‘breakthrough or breakdown’ by the weekend. (Financial Times)
‘G20 leaders pledge to ensure global access to Covid vaccines’. Over the weekend, G20 leaders pledged that they would ensure cheap, global access to Covid-19 vaccines but shied away from commenting on the distribution of early doses. Pfizer and BioNTech could produce more than 50m doses of a vaccine before the end of the year, although most of those have already been reserved by the US, EU, UK and Japan. The distribution of vaccines throughout 2021 will be a key test of inter-governmental co-operation in ensuring those in most need get early immunisation. (Financial Times)
Today's events, rates, and data
The US Dollar remains near a two-and-a-half year low, whilst Asian stocks gained overnight, as traders and investors weigh up vaccinations beginning from next month. Sterling climbed against its peers this morning as we eye a free trade agreement with the EU. US and EU equity futures also rose in today’s session as risk-on sentiment prevails.
German Flash Manufacturing PMI: 8.30am
German Flash Services PMI: 8.30am
Eurozone Flash Manufacturing PMI: 9.00am
Eurozone Flash Services PMI: 9.00am
UK Flash Manufacturing PMI: 9.30am
UK Flash Services PMI: 9.30am
US Flash Manufacturing PMI: 2.45pm
UK Monetary Policy Report Hearings: 3.30pm
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