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Today's Market Fundamentals
It was all about Brexit yesterday, as this whole process seems more and more uncertain with every passing day. Theresa May was in Brussels yesterday meeting with European leaders, so to was Jeremy Corbyn – the opposition were there having “alternative” Brexit plans. Despite the calls by the opposition for a second referendum or general election, I am not certain that the opposition leader would acknowledge that he is probably the reason they would lose a vote.
It is said that the DUP party are not close enough to agree a deal just yet and so it is inevitable that the Brits will ask for an extension. There are conflicting reports coming out of the EU – one is said that a 9 month extension will be granted whilst others are reporting 2 months. My feeling on this is that this extension is just creating more volatility, the EU have already stated that they will not renegotiate any further and UK parliament have already stated that the Brits can’t vote on previous deals.
At some points the EU are going to have to issue a “take it or leave it” instruction.
Today's Market Trading Levels
1. USTEC SELL 7490 – 7520
2. US500 SELL 2850 – 2860
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