Brexit:
All in or fall out?
With a divided Parliament set to deliver its verdict on Theresa May’s controversial Brexit deal, volatility could plague sterling and euro crosses, as well as European stocks and indices.
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What’s happening?
What’s happening?
Theresa May’s proposed Brexit deal will be put before the House of Commons on January 15 after a month-long postponement, an unsuccessful vote of no confidence and seemingly failed negotiations.
Despite delaying the meaningful vote, the prime minister still faces an uphill struggle to secure the votes needed to get the deal through Parliament.
The markets have been a tinderbox of activity, sparked by Brexit confusion, and look set to remain volatile until a resolution is found.
Markets to watch
Forex
Keep an eye on sterling and euro crosses, especially EURGBP. The pound could suffer if May’s deal falls through, but also strengthen if she can get it through Parliament.
Indices
Global equity markets have been twitchy throughout 2018, with the UK indices particularly sensitive to Brexit developments. Pay close attention to the DAX and CAC, too.
Stocks
It’s a nervy time for companies with large UK headcounts or those reliant on EU exports. UK banks and manufacturers – such as HSBC, Unilever or GSK – are ones to watch.
Commodities
Gold prices have been relatively stable since the referendum, but the ongoing uncertainty could see the metal perform strongly as investors look to traditional safe havens.
Saxo Group’s expert view on Brexit
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