On December 2, Ian Wishart, a market analyst, wrote that British and EU negotiators were seizing time to reach an agreement on brexit trade by the end of the week. British media reported that by the end of the week, both Britain and the European Union had hopes of reaching an agreement.
Brexit negotiators are still trying to reach an agreement by the end of this week
People familiar with the talks said that despite the progress of intensive and uninterrupted negotiations in London, there were still differences on the two biggest obstacles on the way to an agreement, which meant it was impossible to predict the outcome with certainty. However, both officials said the overall mood on both sides was optimistic.
On December 2, EU chief negotiator Barnier will brief diplomats from 27 EU Member States on the progress of the talks.
Officials say the next few days are crucial and the UK and EU teams hope to reach an agreement this Friday or the weekend.
One of them said that although the final picture has begun to surface, the situation is still very delicate.
People familiar with the EU’s position say negotiators are trying to avoid delaying the talks until next week, lest it affect preparations for the EU leaders’ summit, which starts on December 10.
Not only are European governments busy solving EU budget issues, but the EU negotiation team headed by Barnier is also worried that any proposal submitted to leaders other than an agreement that has been signed and finalized may lead to the agreement being torn up at the last minute.
An EU official said the EU had outsourced its negotiations to Barnier and the European Commission. Some countries – especially France and the Netherlands – are uneasy about what kind of compromise is being made in their name.
Because of two major obstacles, the negotiation is still difficult
On December 1, Ursula von der Leyen, President of the European Commission, said the negotiations were very difficult and difficult, but conclusions should be drawn soon.
She added: “the EU is well prepared for any outcome and we will see what happens in the next few days.”.
Officials from both sides said that although the deadline for the negotiation process has come and has passed, this stage is regarded as the real final stage. If the UK and the European Parliament want time to approve any agreement before the UK leaves the EU single market on December 31, the negotiations that have been under way since March must end in a few days.
If the two sides fail to reach an agreement by then, businesses and consumers will face the cost and disruption of tariffs and quotas, and the relationship between the UK and the EU could be damaged in the coming decades.
EU officials said the planned British legislation would give the government the power to unilaterally rewrite parts of the brexit agreement, which could prompt the EU to refuse to approve any deal. They said the UK would remove the most controversial provisions of the bill if an agreement was reached.
The two biggest obstacles to the trade agreement remain access to UK fishing waters by EU vessels and a level playing field for commercial competition, but officials say progress has been made in both areas in the past few days.
In terms of fisheries, Britain insists on greater control over its fishery resources, which the British government considers a matter of sovereignty. An agreement on the issue is a prerequisite for a broader agreement, but French President Emmanuel emacron has warned that France will not allow agreements that do not respect its own interests.
The compromise under discussion includes deferring any changes in quota allocation and gradually incorporating them. An EU official’s efforts to reach an agreement on the two aspects of maritime access claimed by the European Union once a year are hindered by the two requirements for the British Maritime access.
In an environment of fair competition, the two sides are working hard to establish a system that enables the development of environmental and labour standards in the UK in a way similar to that of the European Union, but enables the British government to fully control these standards.
British media said an agreement was still expected this week, with analysts advising focus on the 1.35 key resistance
On December 1, Jamie Davies, a spokesman for British Prime Minister Johnson, told reporters that the government was trying to bridge its differences with the European Union.
British Prime Minister Johnson’s spokesman said Britain will continue to negotiate a trade agreement with the European Union this week. Ireland’s deputy prime minister said he was hopeful of a free trade agreement with the UK in the coming weeks.
According to the latest reports of British media, the trade agreement between the UK and the EU has entered a “tunnel”. By the end of the week, there are still hopes of an agreement between the UK and the EU.
From a technical point of view, the next week or two will be the decision
Pound to dollar
Whether or not to enter the next stage of the rise is the key. On December 1, mensur pocinci, head of technical analysis at Julius Baer, Switzerland, said,
Pound to dollar
A classic head and shoulder reversal pattern has been formed. From the trend chart, 1.35 is a major resistance level. As the new medium-term kinetic energy indicators hit the bottom, the market began to try to solve the reversal pattern and enter the sustainable recovery stage.
In the next week or two, it will be crucial for the pound to break through 1.35 against the dollar