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Today's Market Fundamentals
The focus was on Beijing yesterday as the trade talks between China and the US were pencilled in to take place, the Asian session got off with a bang as headlines started filtering in that the US was considering a 60 day extension for its China tariff deadline. Later on in the evening though the optimism started to fade as both parties kept their cards close to their chest
The White House also confirmed last night that a bill would be signed to prevent another government shutdown, there was also confirmation that Trump would likely declare an emergency to get his funding to build the southern border wall. This will probably get challenged in a legal environment, I will say that the lack of negotiation on the side of the Democrats does show a lack of leadership.
In Brexit news, Jeremy Corbyn tabled his amendment in parliament yesterday and with the ERG party abstaining to vote this would be a sure thing – it failed. UK politics is becoming embarrassing and it shows that MP’s are not keen to vote on anything. The UK will again seek assurances with the EU, I think that it is becoming increasingly likely that article 50 will be pushed out.
Today's Market Trading Levels
- USDGBP BUY 2790 – 1.2760
- Brent SELL 6480 – 6510
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