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Today's Market Fundamentals
It was a pretty subdued start to the week with most of the market waiting on the FOMC on Wednesday evening, this will create some dollar movements during what is bound to be the final week of trading. In what looks like a little “buy the rumour sell the fact” trading action, the market is bracing itself for a dovish tone.
Some more conflicting reports coming out of the EU around Brexit talks, with the UK insisting that talks are ongoing on the EU commenting that there will not be any talks. PM May did comment that there will be a meaningful vote in the third week of January, the sticking point still seems around the backstop and although the EU state that the Irish border situation will only be temporary, there lack of conviction to put into legal format to me means that this is not genuine.
There are 14 weeks until the UK exit the EU and we could come perilously close to seeing a no deal situation, the EU are playing hardball – I have a funny feeling that this could end with egg in their face.
Today's Market Trading Levels
- DE30 BUY 10710 – 10680
- UK100 BUY 6730 – 6700
- Gold SELL 1248 – 1250
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