A look at cable
Every trader I know hates Brexit. Not so much because of the politics of it, but because the volatility is untradeable. The volume of headlines is too high with an endless amount of false starts. On top of that, few of them have led to anything more than an intraday move.
This week's news was a six-month Brexit extension and the market has greeted it with a collective yawn. The signal here is that Brexit has lost the market's interest and GBP is now tuning it out on expectations of endless delays and uncertainty.
What's next is that the focus now will shift back to the real UK economy. On that front it's a busy week ahead with employment data Tuesday, CPI Wednesday and retail sales Thursday. I will be watching these very closely to see how much the market reacts to any beat or miss.
