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Today's Market Fundamentals
The day started with the fallout from the defeated Brexit vote on Friday, I suppose that everyone wants to know what is next. There was another round of indicative votes in Westminster, this time to determine if there was to be a customs union, all 4 of which were rejected. This leaves the parliaments reputation in tatters and also don’t be surprised if there is a runoff between May’s deal on Wednesday – the alternative is increasingly looking like a “no deal.”
It is also becoming increasingly clear that the general public are becoming frustrated by both the opposition party – who seem to want to sabotage everything – as well as the ruling party who are not voting in line with their constituents. It may not be a bad idea to threaten a general election, it will force some of her party members to toe the line.
I am staying away from CHF pairs this week after the SNB reiterated their stance on intervention to keep rates negative.
Today's Market Trading Levels
1. Brent SELL 69.20 – 69.60
2. DE30 SELL 11710 – 11730
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