UK: Brexit negotiations to take centre stage - TDS

Analysts at TDS point out that the EU27 leaders meet today and tomorrow to decide whether or not to advance Brexit negotiations to the trade-focused second phase.

Key Quotes

“A leaked draft of the summit statement suggests this will not happen; instead the leaders will wait until December’s meeting after more progress has be made on talks. The draft does show that they are willing to start their own internal preparations to discuss the transitional agreement between now and December, though, with Tusk confirming that story yesterday afternoon.”

“We also have retail sales data for September today. After three consecutive months of growth (the first time this has occurred since early-2015), we expect UK retail sales to stagnate in September with no change, against market expectations of a 0.2% m/m decline.”