2020-09-07 • Updated
The UK Prime Minister Boris Johnson claimed that the Brexit agreement may come to a dead end as both sides decline to meet it halfway. He mentioned: “if no deal reached by October 15 with the EU, both sides should accept that and move.” Moreover, the Financial Times stated that the UK Government is going to impose new laws that can nullify some significant issues of the Brexit deal. That in turn makes the failure of the Brexit agreement quite possible.
EU-UK negotiations are scheduled for this week. Both sides have to reach an agreement by mid-October to prepare the ground for the soft Brexit at the end of this year. The delay will weigh on the British economy and add more obstacles for the soon recovery.
JPMorgan strategists claimed: “our economist’s assessment remains that the chance of no-deal is about a third, but with brinksmanship part of the process it may appear higher than that in coming weeks before agreement is reached”.
Long story short, there are strong factors for the further GBP’s falling such as the stronger USD and risks over no-deal Brexit. Moreover, there are no significant events on the economic calendar to change the current sentiment.
According to Credit Agricole SA, the British pound is going to plummet to 1.20 in case of the impasse over the Brexit deal. Keep that in mind, but for now let’s focus on the short term. If GBP/USD falls below the low of August 27 at 1.3180, the doors towards the next support of 1.3125 will be open. In the opposite scenario, the move above the resistance of 1.3250, which the pair has touched a few times already, will push the pound to the next resistance of 1.3350. Watch out levels and follow further news!
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
