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In the Zone
- GBPUSD
- US30
- Brent
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Today's News Headlines
- As the Brexit deadlines getting nearer, it has emerged that major differences in Ireland are the main reason for the holdup at this point.
Market Recap
Friday was full of headlines which dictated the movements in the markets, the big catalyst was the report that Trump had told his cabinet he wants to impose tariffs on China – he certainly does change his mind more than he changes his underpants.
The anticipated words between Raab and Barnier did not have the effect that many were expecting on Friday and as a result the sterling was somewhat subdued. Rather, it was caught in some broad dollar buying but not to the extent many expected. I am watching all the GBP pairs this morning as I believe the cable is over extended and could be ripe for a correction.
After all the optimism earlier last week, there are suggestions now that there is a deadlock in NAFTA talks, there is also speculation that Canada are prepared to miss the end of month US deadline and see what happens. This could be an interesting subplot leading into October, is this a case of Canada calling Trumps bluff? Either way, I am inclined to walk away from the CAD pairs for now, I just feel that there is higher probability pairs setting up elsewhere to focus my attention on.
Important Economic Data Due Today
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