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Market Update

• Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
• October 9, 2018
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Today has a very light data calendar with nothing of note in the UK or the Eurozone.

The main focus will be UK politics and in particular Brexit negotiations. However, as yesterday’s meeting between Brexit Minister Raab and EU Chief Negotiator Barnier did not go ahead, it suggests they are still some way from a breakthrough.

Arlene Foster the head of the Northern Irish Democratic Unionists was due to meet Barnier today to discuss details of an Irish border deal, although it is unclear if this will go ahead.

Italy’s fiscal plans may also command attention as the Italian parliament is set to discuss the details of the Budget plans revealed last week. Given that the Coalition commands a majority, the budget seems likely to be passed ahead of being sent to the EU on 15th October.

Tomorrow will be a key day for the UK as we have a packed day of UK economic data releases.