UK PM Johnson To Say: We Should Get Ready For Australia Style Deal - Sources

UK PM Johnson To Say: We Should Get Ready For Australia Style Deal - Sources

UK PM JOHNSON TO SAY: HE HAS CONCLUDED WE SHOULD GET READY FOR AUSTRALIA STYLE DEAL - SOURCES
— *Walter Bloomberg (@DeItaone) October 16, 2020

Added at 5:57am

UK PM Johnson: Latest EU Summit Suggest Canada Style Deal Won't Work For EU - RTRS
- Should Get Ready For No-Deal Style Exit In January
— LiveSquawk (@LiveSquawk) October 16, 2020

Added at 5:59am

UK PM Johnson: EU Abandoned Idea Of Free Trade Deal
- Unless EU Make Fundamental Change Of Approach, Go For No-Deal
— LiveSquawk (@LiveSquawk) October 16, 2020

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Bones

Oct 16, 2020 11:34am

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Quoting RossEdwards

Disliked

Walking away empty handed will create disruptions to trade when the transition period ends in December., shaving more than $25 billion off the UK economy in 2021 compared to a scenario where a limited free trade deal is agreed, according to forecasts from Citi and the Institute for Fiscal Studies. That would put the country even further behind on its efforts to recover from the historic shock triggered by the pandemic. However .." the impacts of a “No Deal Brexit” that are generally highlighted (like this estimate) and which have been the subject...

Ignored

sounds cheap ,keep it up Boris -principles matter

British bulldog can't be beaten down

or bored into submission by Brussels or Ross.....
some things are worth more than money

Mays fault we signed any treaty without the full package in place ,deals just not there from start.

Ghostship

Oct 16, 2020 12:24pm

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For those living outside the UK wondering what the hell is going on, we want to end the EU dictatorship and make our own decisions and laws. Basically reverse the raping of our sovereign nation.
There are some british people who obviously would rather sell their soul to the EU for their own gain, than see their own country prosper independently, and in the way it and it's people choose.

Hareii

Oct 16, 2020 6:29am

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Quoting DaJoWaBa

Disliked

I'm intrigued as to whether some of these sources are paid a set fee or commission on the basis of the pressure releases for trading profits. It's the same question about Influencers on Social Media.

Ignored

The institutions are squeezing the last drop out of the existing range play. They would want to whip the price up and down the range as much as they can to maximize their profit. This is a signal to those who have gone through this. The breakout is imminent and the institutions are gonna bail out of the range very soon. Their last chance to get more profit out of this range.

NotBoris

Oct 16, 2020 6:32am

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Quoting DaJoWaBa

Disliked

{quote} Indeed. Analyse this 'News' and the net result of it is this: 'we believe an inside source MAY have stated that Boris MIGHT announce that we should PREPARE for No Deal in January'. Anyone spot any set up here for a trade trigger?

Ignored

It is boris actual real statement, no bluff this time.

But who knows, the covid after effects might linger on in boris peanut brain that he changes his mind like trump this afternoon...

swd

Oct 16, 2020 6:12am

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Look at 14th October low in GBPUSD, look at todays low. Taken out by 1 pip. It's just news algos doing there thing. Range volatility like this will go on thorughout the rest of this year, meanwhile nothing really happens. Play that range, until it breaks. Juicy stops below...

NotBoris

Oct 16, 2020 6:41am

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Quoting DaJoWaBa

Disliked

{quote} Maybe, although 'timing' comes into it. It still doesn't change much for what is already known: that if a deal is not done before January, no deal will happen by default.

Ignored

The fact that boris had missed another huge landmark - his credibility with the brexiters who voted him in is sinking fast.

A rule of thumb - whatever our boris touches, they turned into pile of poo no matter how green and rich they used to be.

This golden rule helps me to place my trade positions too! The swing of yesterday and today and beyond.....

Note however, in boris full published statement he DID NOT specifically says giving up on talks, so there is likely to be another knee jerk before the grand finale soon.

FXMasterZero

Oct 16, 2020 5:57am

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you guys see the massive reaction on the charts?? lmao I made over 3k in 10 minutes

Not-KPMG

Oct 16, 2020 9:06am

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Quoting c0ldsun

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Still Brexit drama for the show, both sides demands to move. There will be a deal 100% sure.

Ignored

Why???
Who deals with "yeyyyyyy let's change that agreement yeeeeey mate aright mate"

Trader#01CE

Oct 16, 2020 6:03am

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Well basically trading this situation is all gamble and luck based. Either u lose big or you win big on the spike. Best to stay away man

04slee

Oct 16, 2020 6:18am

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Quoting Guest

Disliked

Well basically trading this situation is all gamble and luck based. Either u lose big or you win big on the spike. Best to stay away man

Ignored

Exactly and the day isn't over. Another headline may be on the way!

RossEdwards

Oct 16, 2020 6:59am — Edited

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Walking away empty handed will create disruptions to trade when the transition period ends in December., shaving more than $25 billion off the UK economy in 2021 compared to a scenario where a limited free trade deal is agreed, according to forecasts from Citi and the Institute for Fiscal Studies. That would put the country even further behind on its efforts to recover from the historic shock triggered by the pandemic.
However .." the impacts of a “No Deal Brexit” that are generally highlighted (like this estimate) and which have been the subject of most analysis to date – for example the move to WTO tariffs for UK trade
– while very important in the long run, will not have the biggest economic and political impact in the short run. Legal uncertainty, regulatory limbo, what actually happens physically at borders with the reimposition of customs checks, and the status of resident citizens will all be major issues, with no obvious solutions. Moreover, the potential for tit-for-tat “retaliatory” actions by the UK and EU, in response to actions by one side that are perceived to impact on the interests of citizens or businesses from the other, is obvious".

source: Report Cost of No Deal Brexit. -The UK in a Changing Europe

rashadali

Oct 16, 2020 5:55am

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What does that mean? )

DaJoWaBa

Oct 16, 2020 6:19am

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Quoting swd

Disliked

Look at 14th October low in GBPUSD, look at todays low. Taken out by 1 pip. It's just news algos doing there thing. Range volatility like this will go on thorughout the rest of this year, meanwhile nothing really happens. Play that range, until it breaks.

Ignored

Indeed. Analyse this 'News' and the net result of it is this: 'we believe an inside source MAY have stated that Boris MIGHT announce that we should PREPARE for No Deal in January'. Anyone spot any set up here for a trade trigger?

DaJoWaBa

Oct 16, 2020 6:32am

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Quoting Hareii

Disliked

{quote} The institutions are squeezing the last drop out of the existing range play. They would want to whip the price up and down the range as much as they can to maximize their profit. This is a signal to those who have gone through this. The breakout is imminent and the institutions are gonna bail out of the range very soon. Their last chance to get more profit out of this range.

Ignored

Agreed. A very knowledgeable and concise comment.

DaJoWaBa

Oct 16, 2020 6:37am

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Quoting NotBoris

Disliked

{quote} It is boris actual real statement, no bluff this time. But who knows, the covid after effects might linger on in boris peanut brain that he changes his mind like trump this afternoon...

Ignored

Maybe, although 'timing' comes into it. It still doesn't change much for what is already known: that if a deal is not done before January, no deal will happen by default.

DaJoWaBa

Oct 16, 2020 6:58am

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"Note however, in boris full published statement he DID NOT specifically says giving up on talks, so there is likely to be another knee jerk before the grand finale soon."

That was partly the point I was making. 'No change'.

IMO The Oct 15th deadline was all about getting the EU to get most of a deal done well before the point of no return, seeing as how the EU's major strategy is always to stick its head in the sand until the 13th hour. I can't prove that, it's just an observation.

DaJoWaBa

Oct 16, 2020 7:20am

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Quoting NotBoris

Hidden

Yes, it always takes two to tango. I still think a deal WILL get done, whatever it may end up looking like, much as was the case with the WDA.

NotBoris

Oct 16, 2020 8:05am

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Quoting DaJoWaBa

Disliked

{quote} Yes, it always takes two to tango. I still think a deal WILL get done, whatever it may end up looking like, much as was the case with the WDA.

Ignored

Most likely a limited deal, which is as good as no deal.

Huckelberry

Oct 16, 2020 6:30am

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Quoting FXMasterZero

Disliked

you guys see the massive reaction on the charts?? lmao I made over 3k in 10 minutes

Ignored

And you'll give it back in 5

Oct 16, 2020 6:06am

GBP should be weak.

Oct 16, 2020 6:11am

In practice, this would mean tariffs being placed on many goods traded between the UK and the EU, alongside some quota restrictions and customs checks (Northern Ireland would be treated differently).

Not-KPMG

Oct 16, 2020 9:04am

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LOL

won't even bother to make fun....

GDR3k

Oct 16, 2020 5:56am

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Quoting rashadali

Disliked

What does that mean? )

Ignored

https://ukandeu.ac.uk/explainers/what-is-an-australian-style-deal/

Oct 16, 2020 5:56am

Basically, no deal.

Oct 16, 2020 6:01am

Damn, 10 pip slippage just hit me on my GBPUSD long SL

Koop

Oct 16, 2020 6:38am

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Quoting FXMasterZero

Disliked

{quote} I still have 3 short positions open at 1.2990. Will hold them into next week

Ignored

good one Sebastien

DaJoWaBa

Oct 16, 2020 6:23am

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I'm intrigued as to whether some of these sources are paid a set fee or commission on the basis of the pressure releases for trading profits. It's the same question about Influencers on Social Media.