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Today's Market Fundamentals
The day was quiet yesterday as the US enjoyed Thanksgiving holiday, it certainly was not dull though as headlines around both Brexit and the Italian budget continue to drive the market. The former took precedence yesterday as news filtered through that the UK and EU had agreed post Brexit on future ties and this was the catalyst for a pound revival.
Reading the draft, there are definitely some positive developments for the UK but with regards to the sticking points – nothing has really changed. It is up to the rest of the EU states to approve the draft before it can proceed to the summit on Sunday night. The same old issues being fishing, Gibraltar and the Northern Ireland border will continue to be a thorn though.
This is bound to continue into the weekend, with the US/China trade negotiations also on the agenda this is a weekend where I would not be keen to have any open positions as there could be big gaps on Monday morning.
Today's Market Trading Levels
- Brent BUY 80 – 61.30
- WTI BUY 20 – 52.70
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