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Today's Market Fundamentals
Yesterday was all about the UK, it promised to be a lively session and boy did it live up to its expectations – it’s a pity that it was for all the wrong reasons. The headlines were relentless throughout the day and it seemed as though every headline contradicted the next. It was widely expected that the scheduled Cabinet meeting would be to ratify the Brexit, in the end there were merely delays and by the end of it Theresa May spoke about how she had the backing of her cabinet.
All this does is add to the spicy nature this morning with those supporting Brexit scheduled to table a vote in no confidence – Theresa May could be up against it today. There are already some cabinet members expected to resign today and so this could be another tough day in the markets. The worst case scenario here is that the cabinet walk out on this agreements – Theresa May will be forced to resign and the Tory party will have to revote.
Considering the potential risks ahead, I don’t see any reasons why we should look at trading today and this could be one of those days to watch everything unfold.
Today's Market Trading Levels
- NZDUSD SELL 6790 – 0.6810
- NZDCAD SELL 8975 – 0.9000
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