European Union and Britain finally gets down to business: Angel Commodities Broking

Mr.Prathamesh Mallya (Chief Analyst- Non-Agri Commodities & Currencies, Angel Commodities Broking): “Despite Theresa May’s mocking defeat in the recent snap elections, the Brexit negotiations started off on its scheduled date i.e 19th June’17. It has been decided that the negotiations will be broken down into phases which are expected to last until October’18, before a deal can be reached upon. The phased meeting shall take place for one week of every month. The current phase is dedicated to expat rights, financial settlement and other separation issues (which haven’t been disclosed as yet).

Both the chief negotiators i.e. Michel Barnier from the EU and David Davis from Britain have made strong statements before the meeting. Michel Barnier was not in the frame of mind to make concessions or ask for concessions while David Davis wants to call for a deal like no other in history. It is quite clear that the negotiation proceeding won’t be a cake walk. There is a possibility that the end date of negotiations could be extended if there is prolong disagreements. Markets, therefore, will have to gear up their astute investing sniffing style and pay attention to every statement that comes from the parties to make fine investment bets.

So the question is does a good start means a good end? Well only time can tell the end-journey of Brexit negotiations.”