On Monday, investors were disappointed by the weak statistics from the UK. GDP data, the report on industrial and manufacturing data did not justify market forecasts and provoked a new wave of sales. The situation was exacerbated by strong dollar gains, as USD index completed the eighth trading day strongly in the green, as well as the continuing uncertainty around Brexit.
On February 14, UK Parliament should pass a new vote on Brexit, but many experts say that Theresa May will ask parliamentarians to postpone the vote on February 27 to hold additional talks with the EU. At the end of last week, May managed to get agreement for a new meeting of negotiating groups to discuss controversial issues. At the same time, European side still rejects the possibility of changing the previously agreed contract, suggesting UK to continue the negotiation process during the transition period, which should last until 2021.
A number of British parliamentarians have already accused May of deliberately delaying the process, with the aim of conducting a final vote on the Brexit issue as close as possible to March 29, when parliamentarians will have only two possible options - either voting for the draft agreement agreed by May or preparing for an uncontrolled exit from the EU .
Later today, the Bank of England's Carney head is scheduled to speak, but in our opinion, the impact of this event on the market will be minimal, since the official is unlikely to provide markets with any new information.