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In the Zone
- GBPJPY
- GBPUSD
- US30
- Brent
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Today's News Headlines
- News out of both Austria and Ireland is that a Brexit deal is no closer than it was a year ago, I am not sure if the EU is trying to play hard ball, but I suspect a no deal scenario will be more detrimental to them in the long term than it will to the UK.
Market Recap
The majority of the action yesterday was during the London session as better than expected data was the catalyst for cable to make a further push higher, the high got as high as 1.3225 before Brexit headlines once again rattled the pair. The pair lost most the gains trading as low as 1.3100 before once again trading in the recent intraday range of 1.3120 – 1.3170.
The USDCAD was also affected by headlines – these around NAFTA – and the pair moved towards 1.3025 before it trended lower throughout the day to trade at 1.2915. The news around NAFTA seems to be optimistic and so I would expect so sort of deal to be passed, the problem is that there is always the chance that we see some “twitter action” from you know who.
Market conditions are tough at the moment with headlines creating a lot of unnecessary volatility – a lot of the pairs still seem stretched to me and I prefer to remain patient for now, I know that my patience will be rewarded.
Important Economic Data Due Today
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