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Today's Market Fundamentals
The morning session was quite as we have started to see some side themes start to emerge that can possibly take the attention away from China and the US – even if for only a short reprieve. The market will start to turn its attention to both the EU elections as well as Brexit which is fast approaching revised extension date set for June.
Reading between the lines during the address by PM May, it would seem as though her deals are numbered, she mentioned that there would be a withdrawal agreement bill requirement to vote on 2nd referendum. The way I read this is that parliament will have to agree on a Brexit deal first before a 2nd referendum is held – the purpose of this is that the referendum would then be final, either there would be no exit or the people except the Brexit deal that was agreed.
Opposition leader Corbyn has stated that his party cannot agree to the deal, I imagine that PM Mays days are numbered but this whole process has illustrated that Corbyn has very little leadership qualities as his ideals have “flip flopped” at every meeting.
We might finally be approaching the final stages of the Brexit saga.
Today's Market Trading Levels
1. EURGBP SELL 0.8790 – 0.8770
2. GBPCAD BUY 1.7048 – 1.7020
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