Did you know that The Forex or FX Market derives its name from Foreign Exchange. It is essentially the exchange of currency (money) between two different countries. The FX market is the largest financial market in the world, and is open 24 hours per day, 5 days per week. BlackStone Futures provide a User Friendly trading environment in YOUR journey to Profitability on:
- Forex
- Global Equities
- Commodities
- Stock Indices
Today's Market Fundamentals
The market waited patiently all day to get any concrete news out of the UK regarding, there were arguments that were released during the day that moved the pound – the most telling early on was the UK attorney general confirming that the new offer still left the UK at legal risk of not exiting the backstop. Considering that PM May had assured the public that a legally binding agreement was negotiated, the optimism from Monday was unwound relatively quickly yesterday afternoon.
The EU continued to pile on the pressure by reiterating that there would be no further chances, even suggesting that it was this deal or no deal – I find this hard to believe because a no deal would be detrimental for the EU in the long term. They also confirmed that if the deal was not ratified, the UK would not get a transition period, these were some pretty tough words to take seriously considering that the EU are teetering on recession.
It was forecast that PM May would lose the vote, and so she did – the UK will probably ask for an extension when the deadline reaches the end of the month. This is surely going to frustrate the people of Britain, and the scenarios of “no Brexit” or “no deal” are fast becoming the probable outcomes now.
Today's Market Trading Levels
- DE30 SELL 11590 – 11620
- UK100 SELL 7157 – 7175
[su_divider]
