US-China Trade war, Brexit Deal again in focus

Weekly Report - 19/11/2018

China Trade War

trade-war-and-brexit


The ongoing popular China Trade War will be in the most important topics for this week, the United States of America President Donald Trump's mentions of a potential trade deal that possibly will be for the best, discussions of a deal expected to increase the risk appetite and reduce the interest for the popular USD (Greenback). The latest development implying that the January 2019 taxes may be on hold for the time.

The other important matter that will have a great attention this week will be the Brexit deal. The popular English currency GBP remains in a range while Brexit chatter moves up and down on beliefs that a deal or a no deal, will end the British pain. Parliament now appears to be the greatest threat over England on remaining strong to leave the EU with some kind of a deal. We can anticipate major progress in the Pound in the week.

The Week that was


Last week the draft Brexit Withdrawal deal agreed by the Cabinet locked out the preliminary terms of the UK's departure from the EU in 585 pages. More to that, the UK and the EU announced a common political declaration on their future association, placing large areas for future cooperation. The popular pair GBPUSD lost more than 300 pips in one day. Another great move was noted on the GBPJPY that also lost more than 350 pips in the same day.

popup_close
gbpusd-h1-35

Main Focus This Week


The United States of America will announce building permits and housing starts, durable goods orders, existing home sales and flash Markit PMI following this week.  Other significant announcements hold ECB and RBA meeting minutes, Eurozone flash Markit PMI, UK CBI factory orders, and consumer morale, Japan inflation, and trade balance and Germany final Q3 GDP growth figures. In extension to the economic drivers, the political progress in Rome will probably be carefully observed while the European Commission has a deadline up to November 21st. They need to choose whether to take the next action to penalize the country. In the Meantime the European Union leaders will assemble on November 25th to end the draft Brexit deal.

popup_close
eurusd-h1-27

This website uses cookies to ensure best possible user experience. Read more

Accept