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Today's Market Fundamentals
We must be coming to the end of the Brexit drama as the UK press are starting to dub today as “Warning Wednesday” with both the UK Parliament and the BOE set to release a scenario analysis on Brexit. Parliament will look at various outcomes and measure it against not leaving the EU, and the BOE will look at various interest rate scenarios for the different outcomes.
Despite the upbeat comments out of China, it would seem that there is a long hard battle ahead with regards to sorting out the US-China trade situation with the White House yesterday reiterating how disappointing the US were with Chinese talks till now.
Trump has also gone onto the offensive with regards to auto tariffs by contemplating slapping a 25% on all auto mobiles except for those from Mexico and Canada. The EU and the US had agreed not to do anything whilst negotiations were ongoing and it seems as though these negotiations are going to slowly for Donald Trump – perhaps he has just called the EU’s bluff. Germany alone exports $ 20bln to the US every year and so these negotiations could gather a little momentum heading into January.
Today's Market Trading Levels
- AUDCAD SELL 9630 – 0.9660
- NZDCAD SELL 9040 – 0.9080
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