MPs going to vote on Theresa May's Brexit deal

Daily Analysis - 12/03/2019

May secured "legally binding" changes on Brexit deal


On Monday Theresa May rushed to the European Parliament with Steve Barclay the Brexit Secretary in an effort to secure support. EU chief Brexit negotiator Michel Barnier and Mr. Juncker both agreed on two documents after the discussions. David Lidington the Cabinet Office Minister after that reported to the MPs and told them that these documents will probably "strengthen and improve" the departure deal from the European Union but also the on the future relationship between the two. Theresa May stated that the modifications affected the Irish backstop. The protection plan created to bypass a hard border in Ireland that could not "become permanent".

On the other hand Jeremy Corbyn the Labour leader said that the changes are not "anything approaching" what May has promised?

Asian stocks went higher across the board

On Tuesday Asian stocks climbed supporting some good news while U.S. stocks gained late yesterday. The GBP also flew while Theresa May accomplished last-minute support from the European Union concerning her popular Brexit agreement. On Tuesday afternoon the U.S. crude increased more than 0.4% to settle at $57.04.

In Asia Oil shares jumped while oil extended its recovery this week, boosted by remarks from Khalid al-Falih the Saudi Energy Minister who couldn't see any pause to OPEC-led supply cuts before June. International benchmark Brent was also up almost 0.4% to $66.83 a barrel. In Japan, the Nikkei 225 rose more than 2 %, with most areas placing in great earnings. The broader Topix advanced more than 1.8%.


Gold gains on weak Dollar

On Tuesday the popular yellow metal Gold climbed while the greenback declined. The European Commission agreed to the changes regarding UK's Brexit deal. Nevertheless, profits were restricted as the arrangement also paused the risk appetite. The dollar was down about 0.2% versus its primary rivals, and that made gold a more attractive investment for the non-U.S. currency holders.

U.S. gold futures rose 0.4% to $1,295.89 an ounce while the Spot gold was up about 0.2% at $1,296.07 per ounce.


Dow up 200 points while Apple saves the day

On Monday Stocks advanced while strong profits in tech shares like Apple and Facebook that offset a steep drop in Boeing. The popular S&P 500 advanced more than 1.4 % to close the trading day at 2,783.29, driven by an about 2% percent increase in the tech area.

The Dow Jones Industrial Average finished its trading day by more than 200 points above at 25,650.87 following a drop of more than 200 points. The Nasdaq Composite gained 2.0% to 7,558.06.


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