08/12/2017 - UK Breaks Brexit Deadlock as Deal Reached Over Irish Border


The UK and EU have this morning reached an agreement on Brexit after an intense week of negotiations. Last night, May promised her allies at the DUP that there will be no hard border and that the UK government will uphold the Good Friday Agreement. After strenuous talks, she rushed to Brussels earlier today to meet with European Commission President Jean Claude Juncker.

The border between Northern Ireland and the Republic of Ireland which remains in the EU had been a major sticking point in the talks amidst concerns that check points could harm both economies and undermine hard-won peace in the North.

However having spoken alongside May in the European capital earlier today, Juncker said “we had to make the deal today” in light of the fast approaching December 14 deadline. President Juncker also added that “sufficient progress has now been made on the three terms of the divorce” implying that the UK has the all clear to progress to the next stage of the negotiations which involve trade talks.

British house prices rose by more than expected in November and for a fifth month in a row, mortgage lender Halifax said on Thursday. House prices rose 0.5 percent month-on-month after a 0.3 percent rise in October, Halifax said, But house price growth slowed on an annual basis to 3.9 percent in the three months to November, following a 4.5 percent rise in October.


The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting a rapid tightening of the labour market that bolsters expectations the Federal Reserve will raise interest rates next week.

Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 236,000 for the week ended Dec. 2, the Labour Department said on Thursday.

It was the third straight weekly decline in claims. The labour market is near full employment, with the jobless rate at a 17-year low of 4.1 percent. These strong jobs figures further increases expectations of Dec rate hike when the fed meets on the 12th and 13th of Dec.

Key Announcements

13:30- USD: US Unemployment rate Nov unchanged at 4.1%

13:30- USD: US Non-farm Payrolls expected to be lower at 200K from 261K