Trump talks Brexit

Daily Analysis - 13/07/2018

Sterling moves lower on Trump comments

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In an overall quiet session for FX markets, the pound moves lower on comments from US President Donald Trump during an interview with British tabloid The Sun. The paper reported that UK Prime Minister Theresa May’s soft Brexit will kill any future trade deal with the US.

GBP heavy


GBPUSD is down half a percent and fell below 1.3130 in early London trading and will likely remain sensitive to any Brexit related headlines.

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Oil under pressure


WTI oil is testing the key $70 a barrel level as the commodity remains under pressure due to concerns of slowing global growth that will consequently affect demand.

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Earnings announcements today


Markets are more focused on US equities as earnings season gets underway. The Nasdaq11 hit a new record high on Thursday. Citigroup and JP Morgan announce Q2 earnings later today.

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