With Brexit talks slowly getting back on track, Irelands foreign minister is now saying that Theresa’s May’s two year timeline outlined in Florence last week has become unrealistic. The minister has come forward to say the it could take anywhere from two to five years for the transition, as there is too much background work going on, especially with the delays and arguments over the exit bill.
In the US, President Donald Trump has stated that they are trying to resolve the North Korea situation in a peaceful manner with the UN’s help. However, Trump has again reinforced that they are fully prepared for military action against North Korea, if need be. Trump has said that this is not the preferred option but would rather neutralize the threat before it gets out of control.
The notable news today comes from the US with two pieces of high tier data released this afternoon. Firstly, US Core Durable Goods Orders posted as expected at 0.2% and US Crude Oil Inventories also posted as expected, at 2.9m. FOMC Member Brainard is also due to deliver a speech titled “Labour Market Disparities and the Mission of the Federal Reserve”.
In Canada, the BOC Gov Poloz will be speaking on the Canadian economy and recent implications. Lastly, the RBNZ will be releasing their Official Cash Rate figure and will also be releasing a statement on their Monetary Policy.