Here's the Brexit trading risk times for Wednesday 29th March

Author: Ryan Littlestone | Category: News

Righto, now we've got the news, when are the trading risks?

Just a quickie to highlight the prevalent times for tomorrow (Wed, or today if you're in upside down land).

  • 05.00-07.00 GMT London open: There's been no move in the quid on the May signing Art50 news but that doesn't mean there won't be when London traders get in after seeing the news.
  • 08.00-10.00 GMT May Cabinet meeting: Usually on a Thursday, no exact time given. I suspect this one has been brought forward. I doubt there will be any comments from it directly as this will just be procedural to tell everyone what they already know. However, there may be some comments coming out from cabinet members who blab to the press after.
  • 10.30 GMT House of Commons session starts (PMQ's from 11.00): Looking at the HoC pages there's still going to be motions and legislation chatter from the start of the session. May usually starts taking questions around 11.00 GMT.
  • 11.30 GMT May will officially inform the house about signing the letter: This is where we might get some unpublished comments. No.10 like to leak out the basis of any speech early so what I've written in the May post is probably the best of it but there's still some unknown headline risk.
  • 11.30 GMT British ambassador Sir Tim Barrow delivers May's letter to Donald Tusk, hopefully at the end of a sword stabbed into his desk as he rides in on a horse dressed in Knights armour. Low headline risk from this one
  • 12.45 GMT EU's Donald Tusk holds a press conference: This will be another small headline risk event as we'll get to hear the official EU response. I doubt we'll get anything noteworthy apart from recognition and sorrow that the UK has chosen to leave. You never know with this lot though. May has already spoken to Merkel, Tusk and Juncker today to keep them up to speed.
  • 18.00 GMT May appears in an interview on BBC 1: Another chance to repeat everything she'll say in Parliament

A Downing Street spokesperson said:

The Prime Minister called the German Chancellor, the President of the European Council, and the President of the European Commission earlier this evening to update them ahead of the letter giving notification of the UK's intention to withdraw from the European Union being delivered tomorrow.

In separate calls, they agreed that a strong EU was in everyone's interests and that the UK would remain a close and committed ally.

They also agreed on the importance of entering into negotiations in a constructive and positive spirit, and of ensuring a smooth and orderly exit process.

The Chancellor, the European Council President, and the European Commission President thanked the Prime Minister for her calls.

All in all, I'm not expecting anything massively market upsetting but now there's a nuts and bolts timeline to look at. Of course, we can't legislate for any Tom, Fritz or Merkel popping up to offer their 10 cents worth so be on guard for a day of headline trading risk.

That's my lot for tonight, I'll leave it all with Eamonn now until Mike picks the baton up again tomorrow.

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