Trial now
ASIA

Coming up in the Asia-Pac session on Wednesday:

USDCAD TECHS

Corrective Pullback

US TSYS

Risk-On Carries On

US EURODLR OPTIONS

Late Trade, March Calls

MNI (Brussels)

EU-UK negotiations have so far failed to produce any convergence on the key sticking points of fisheries, state aid and governance of a potential post-Brexit trade agreement, though talks could continue until early-to-mid-November before it becomes too late to clinch a deal, an EU diplomat told MNI.

"Legal texts are being developed on eight out of 11 tables. The three where this isn't happening are the well-known points. So no convergence there yet. (It) will be a few weeks. If at all," the diplomat said, adding that it was unlikely that French President Emmanuel Macron would yield to pressure from German Chancellor Angela Merkel to make concessions on fisheries.

"Macron wants to be in a position where he controls the fish narrative. Any attempt to change that will fail. We've learned from experience," the source said.

LANDING ZONES

Pressed on potential landing zones, the diplomat said these remained elusive.

"There are always landing zones; but as in real life it will depend on wind speed, timing & visibility when and whether negotiators actually will get to touch down together."

Talks will continue in London through Wednesday and are due to resume in Brussels on Thursday this week.

Another EU source suggested other countries could put more pressure on France over fisheries, but only if agreement were reached first on the other key issues.

"Pressure from others would increase if this really is the only issue...it will only go if the rest is satisfactory," the second source said.

MNI Brussels Bureau | david.thomas.ext@marketnews.com
MNI Brussels Bureau | david.thomas.ext@marketnews.com