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Daily News - Johnson has a week to finalize Brexit new plan

1. Brussels did not like London's new Brexit offerings

2. Australian dollar is trading at three-week highs

3. Reserve Bank of India cuts interest rates for the fifth time this year

 

According to The Times, the EU has given Boris Johnson a one-week deadline to finalize the new Brexit plan. The current option was considered unacceptable in Brussels. If no changes are made within the specified time period, the EU will not consider this option at the EU summit, which will be held October 17-18. According to the authors of the article, the EU’s fundamental objections to Johnson’s new plan and an alternative mechanism for regulating the Irish border minimize the likelihood that London and Brussels will be able to agree before October 31.

The AUD / USD currency pair almost ignored Australia's weak retail sales report for August and continues to hold near three-week highs. According to the report in August, sales increased by 0.4%, while experts predicted an increase of 0.5%.

 

The Reserve Bank of India today decided to reduce the interest rate from 5.40% to 5.15%, which was in line with market expectations. This is the fifth rate cut in India this year. The regulator gradually reduced the rate from 5.60% to 5.15%, strengthening stimulus measures to maintain current economic growth rates.

 

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