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Today's Market Fundamentals
Despite passing the no-confidence vote last week, there were reports this weekend that there was still no indication that the parties are willing to hash out a deal. There is reportedly some form of deal that is going to presented to parliament today – but the fact that the Labour Party was not involved leads us to believe that this deal too will be rejected. There seemed to be a car bomb in detonated in Northern Ireland which is bound to highlight the need for a border between the UK and Ireland.
The US government shutdown continues into a second month, Trump did try and offer an olive branch which was quickly rejected from the Democrats. There is no indication that this is going to end soon, meanwhile Trump has another storm to deal with after it emerged that he directed his former attorney Cohen to lie to Congress – I’m not convinced by this just yet.
There were also reports surfacing that the US were willing to drop tariffs on China, the head negotiator from North Korea arrived in the US for talks – it would seem as though Trump really was in a conciliatory mood this weekend.
Brexit talks will continue to dominate market this week though, to me it seems as though Jeremy Corbyn will hold out for a general election as opposed to help the Conservative party negotiate any deal. The significance to this is that he will build his campaign around a second referendum – odds are now up to 42%.
Today's Market Trading Levels
- UK100 SELL 6990 – 7005
- US500 SELL 2668 – 2673
- US30 SELL 24700 – 24750
- USTEC SELL 6770 – 6790
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