Brexit has seemingly ground to a halt, with opposition leader Jeremy Corbyn unwilling to meet with Theresa May at this time to work on a new Brexit deal.

The EUR/USD continued its malaise, unsure of which way it wants to go. The pair opened at $1.13907 and declined in early trading, dropping to near-session lows of $1.13701. Mid-session saw the pair climb to a high of $1.14050 before it fell to lows of $1.13692. It rebounded off those lows and is currently trading at $1.13865. The pound on the other hand is a totally different story, unperturbed by the mess that is Brexit. The GBP/USD opened at $1.28768, traded flat early before dipping to a low of $1.28307 mid-session. The pound then rallied off those lows, climbing to a high of $1.30012. It is not far off those highs and is currently trading at $1.29828.

The Dow rallied late in the day to close with some gains yesterday. The index opened at 24,179.41 and declined throughout early trading, bottoming-out at 24,031.50. The back half of the day saw the Dow climb gradually to wipe out previous losses before spiking late in the day as it peaked at 24,468.10. It came off those highs and closed at 24,366.90. The Dax put in a solid performance, helped by a late rallying Dow. The German index opened at 10,875.42, over 50 points lower than it closed at the previous day. The Dax fell to an early low of 10,819.43 before turning it around as it surged to a high of 10,979.43. It could not hold onto those highs and closed at 10,957.93.

The end of the week is dominated by Brexit talk as Theresa May tries to negotiate with the rest of her parliamentary colleagues to get a new Brexit deal done. All seem willing to negotiate, except for opposition leader Jeremy Corbyn. Corbyn has refused to meet May until the PM removes the no-deal Brexit option off the table (an option that would see the UK exit the EU without any deal in place). Theresa May appears more conciliatory in her approach this time around but will need Corbyn on board in order to get a deal done. The longer this stalemate continues, the harder it will be for the government to negotiate with the EU.

Data released today includes:

All – G20 Meetings

UK – Retail Sales

Japan – Revised Industrial Production

Europe – Swiss PPI, European Current Account

Canada – CPI, Core, Trimmed, Common and Median CPIs, Foreign Securities Purchases

US – Capacity Utilisation Rate, Industrial Production, Prelim UoM Consumer Sentiment & Inflation Expectations, FOMC Member John Williams speaks

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