Sterling Takes a Breather after PM May Pledged to Hold On, How Long Could It/Her Last?
Sterling recovers mildly today but remains the weakest one on political turmoil in the UK. There is no clear sign of a come back in the Pound and it remains vulnerable for more selloff, even before weekly close. The markets...
UK in Political Turmoil as No Confidence Vote Waiting on the Line, Pound Tumbles Broadly
Sterling is sold off broadly today as Brexit optimism quickly turned into political turmoil. UK Prime Minister Theresa May appeared to have secured Cabinet support on her Brexit agreement with EU. But in less than 24 hours, four ministers resigned...
Sterling & Euro Firm on Brexit Progress, But Australian Dollar Steals the Show with Job Data
Both Sterling and Euro trade firmer after UK Prime Minister Theresa May got Cabinet support for her Brexit deal. But no significant technical development is seen with these two currencies yet. Instead, Australian Dollar steals the show with strong employment...
Sterling Turned Cautious as Markets Await May’s Brexit Cabinet Meeting
Sterling turned cautious as markets are now awaiting the result of UK Prime Minister Theresa May’s Cabinet meeting on Brexit. The withdrawal agreement text should have been agreed with the EU. Approval by the Cabinet will give the green-light to...
Sterling Firm, But Uncommitted, as Markets Await UK Cabinet Meeting on Brexit Agreement
Sterling is trading generally firm today as the EU and UK finally agreed on the withdrawal agreement. It will now have to go through Prime Minister Theresa May’s Cabinet today. That shouldn’t be too much a problem despite some open...
Sterling Surges as Brexit Agreement, Including Irish Backstop, Will be Ready Soon
Sterling rebounds solidly today and there is new wave of buying coming in at early part of US session. Positive news regrading Brexit negotiation is the key driver of the Pound. It’s reported that the Brexit agreement is now closer...
Australian Dollar Lifted as Asian Stocks Rebound on US-China Trade Optimism
Asian stocks gapped sharply lower follow steep fall in US equities overnight. But sentiments were then lifted by optimism over US-China trade negotiations. Australian and New Zealand Dollar benefited from the development and are now trading as the strongest ones....
More Upside in Dollar after Breaking Key Resistance, Sterling Selloff Continues
Sterling continues to trade as the weakest one for today as negative Brexit news fly around. It’s reported that European Council President Donald Tusk has given UK Prime Minister Theresa May a deadline for an extra November summit. And enough...
Sterling Dives as Nov Brexit Deal Becomes Distant, Canadian Dollar Follows Oil Rebound
Sterling opens the week sharply and broadly lower as it’s getting less and less likely to complete a Brexit deal within November. Yen is the second weakest as Asian stocks recover mildly after last week’s selloff. Meanwhile, Euro is following...
Dollar and Yen Building Up Bullish Turnaround, Canadian Down on Oil Price Free Fall
There were some interesting turns in the financial markets last week. Global equities initially cheered after Democrats sealed a tremendous win in the US mid-term election by regaining majority in the House. But the lift quickly faded as stocks suffered...
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