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Analysts at Rabobank point out that the latest offering from the UK weekend press on Brexit carried the warning from ex-Foreign Secretary Boris Johnson that if the Brexit negotiations continue on their current path that they will end “in a spectacular political car crash”.

Key Quotes

“On Wednesday EU leaders are due to meet in Austria in an attempt to make some progress on the issue of the N. Ireland border. This is being billed as the first step of a three stage summit to push through a UK-EU deal, the results of which could be presented in mid-November (though reports of special summits in December and even January are also doing the rounds).”

“Today’s release of the US Empire Manufacturing data will be followed later in the week by US housing data and PMI releases, but it would seem unlikely that this has the capacity to deter the market from anticipating a rate hike at next week’s FOMC meeting.”

“UK CPI inflation and retail sales data are the highlight of the UK data schedule while Eurozone PMI data are also due this week.”

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