Brexit amongst market movers today – Danske Bank

According to Danske Bank analysts, focus today is still on Brexit after yesterday UK’s PM Boris Johnson paused the implementation of the Brexit deal into British law, as he lost the vote on the timetable, despite winning support for the principle of the deal.

Key Quotes

“A majority may have supported the deal eventually but the MPs did not want to rush it through in just three days. Many questions arise on the back of yesterday's vote. How long extension will the EU grant (Donald Tusk suggests to end-January as laid out in the UK extension proposal but sources hint France's President Macron wants a shorter one)? Will there finally be support for a general election or will PM Johnson move forward with the legislative work anyway?”

“We have a very thin calendar again today ahead of the very important central bank day tomorrow. Most interesting today is the release of the preliminary consumer confidence indicator for the euro area in October due out at 16:00 CEST.”

“The Swedish debt office releases its new borrowing forecast today.”