Just when you think things couldn’t possibly get any worse for Brexit, we get hit with a whole heap of fresh speculation. The week ahead is shaping up to be decisive for how the UK withdrawal process will look. Since the extensions of the UK’s withdrawal it remains incredibly unclear (or confusing) of the next steps. May is expected to update ministers on her Brexit strategy when she chairs a meeting of her cabinet this morning, we then move on to a series of possible alternatives/amendments which MPs will debate on. Moving on to Tuesday, May could bring her withdrawal deal back for the so-called third meaningful vote. But the government says it won't do that unless it's sure it has enough support to win. Wednesday is when indicative votes would be held. We should wrap on Thursday when a second possible opportunity for meaningful vote three. The prime minister may hope that Brexiteers will finally decide to throw their weight behind her deal because indicative votes have shown that otherwise the UK could be heading for the sort of softer Brexit they would hate.
If the above isn’t enough to confuse and give you a headache, the weekend headlines would certainly contribute. Media reports have suggested that May’s leadership is being challenged with names being placed in the hat as her possible replacement. It’s also been reported her deal could gain more support should she announce her resignation. With the rumor mill in over-drive the so-called replacements were in full support of the PM and those reports were put to bed, for now at least. Mrs May then summoned leading opponents of her deal to Chequers, her country retreat, to assess whether there is enough support for it to bring it back to the Commons this week. But after lengthy talks with prominent Brexiteers - including Boris Johnson, Jacob Rees-Mogg and Iain Duncan Smith - there was little sign of an immediate breakthrough.
The Pound has opened Monday morning down on Friday’s close amid fresh concerns and the chances of a no-deal Brexit increasing. We have very little macro-economic data this week, but this won’t deter from the fact we could see some excessive price swings.