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Today's Market Fundamentals
After a tough week for risk currencies, the morning session was dominated by improving risk sentiment. In the aftermath of the meeting with the US and North Korea, the Asian country reiterated that the UN sanctions would need to be lifted before they would stop missile testing.
There were two main developments on Friday that should be monitored, – firstly the EU headlines by admitting that they were ready to give the UK some more assurances that the border position is only temporary. The easiest way to do that would be with an agreement that leads to a trade relationship between the EU and UK – isn’t that what Britain have been asking for all along?
The second development is that the White House are clearly keeping an eye on the auto data which in their words is becoming “worrisome.” This in my opinion could lead the US solving the shortfall with more tariffs against the rest of the world – watch this space.
Today's Market Trading Levels
- GBPCAD SELL 1.7590 – 1.7610
- GBPJPY SELL 148.30 – 148.60
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