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Today's Market Fundamentals
The pound pairs were back on merry go round as the Brexit side show reared its head again yesterday, it started with a comment that Merkel had agreed to a 5 year time limit on the Irish back stop – this was swiftly denied and the result was that cable traded 75 point range within 10 minutes. It seems as though the EU were in a mood to allow for an extension except for France who need to understand the reasons for an extension and would only extend until December – perhaps France have been in a whole somewhere.
It seems as though the bargaining shift within the EU is starting to diminish a little bit as Donald Trump will now place $ 11 bln worth of tariffs on the EU – I’m assuming they wouldn’t be able to also take a no-deal Brexit too. I suspect that this may mean that a trade deal with China is on the horizon – so that could be the major headlines leading into the weekend.
Today's Market Trading Levels
1. USTEC SELL 7590 – 7610
2. Brent SELL 7100 – 7120
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