It was a bullish start to the week for the European majors on Monday. Apprehension from Friday turned into hope on Monday as the markets responded to news from the weekend of plans to continue Brexit negotiations.While Boris Johnson continued to talk of a likely no-deal Brexit, there was also news of progress on some of the key issues that remain. A major stumbling block, however, is the policing of any Brexit deal, with Britain unwilling to be tied to EU laws and regulations. Economic data from the Eurozone was on the lighter side, leaving the markets to focus on Brexit news in the early part of the day.
Looking ahead, U.S economic data, COVID-19, and chatter on Brexit and from Capitol Hill will be in focus. Economic data from China was skewed to the positive this morning.