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A 70% more contagious strain of coronavirus has been identified in England, putting into effect the worst closures in the south of the country, including London, meaning that the Christmas holidays will be closed to tens of millions of people.
Meanwhile, the French and Germans cracked down on the English, and passenger and freight traffic through the tunnel was also stopped to prevent the virus from being imported en masse from the UK, all of which is already causing a considerable traffic and logistical chaos in the south of the country. With a bit of exaggeration, the unconventional Brexit situation has sprung forward, with thousands of trucks already bucking in the ports of southern England because the French do not accept them.
We have already exceeded the deadline set by the European Parliament until midnight on Sunday and there is still no agreement on the trade negotiations that will continue today, but it already seems certain that, even if an agreement is reached, the EP will no longer be able to ratify this year.
At 9:45 this morning, the EP’s Brexit coordinator will hold a meeting on the situation, and at 11 am the EU member states will discuss the British “super virus” and a total blockade of entry to the EU, according to German Bild. until January 6.
As a consequence of the evolution of the weekend, which was also very cloudy in the economy, the British stock and exchange market started the week with a significant drop. The British pound, for example, has broken into two waves against the dollar from 1.35 to 1.33 now, and market prices suggest that there will be a greater chance that there will eventually be no trade deal (on Friday, it was gave another 72% of what there will be, now just 47%, according to a Reuters market commentary.
Equity markets have also suffered from the lack of a Brexit deal and the EU (and beyond) ‘lockdown’ against the British – the German DAX index is also falling and the forint is falling in this cloudy mood. After the first quotes around 358 in the morning, it now suddenly fell close to 361 against the euro, that is, to a two-week low.
As a result of the above developments, the euro is also falling against the dollar, the situation in the markets now appears to be a typical escape phase, so the dollar / guilder will also jump from 292.5 on Friday night in almost 4 units.
We have written about what macro data will be in the Christmas holiday week, and the table can be summarized here:
Cover Image Source: fake images
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