Home > XE Currency Blog > XE Market Analysis: Is "No Brexit" Still an Option?

AD

XE Currency Blog

Topics6593 Posts6638
By xemarketanalysis January 14, 2019 2:31 pm
    xemarketanalysis's picture
    xemarketanalysis Posts: 735
    XE Market Analysis: Is "No Brexit" Still an Option?

    OVERVIEW

    • The pound is stronger on 'soft or no Brexit'
    • The Aussie Dollar is weaker on 'risk off' sentiment 
    • Turkish Lira dips after Trump comments

    HIGHLIGHT

    The pound is stronger today and continues to trade around a 7-week high against the US Dollar. Reports have surfaced this afternoon that many Tory lawmakers may look to back Theresa May's Brexit deal rather than see no Brexit deal at all. Tomorrow will undoubtedly be a big day for the pound. 

    GBP USD 2019-01-14

    US DOLLAR

    The US dollar is weaker against the pound this afternoon, and simultaneously struggling against the euro. The dollar remains vulnerable to the ongoing shutdown in the US government and continued trade tariff war with the Chinese. 

    BRITISH POUND

    The pound is stronger today, trading around a 7-week high against the Dollar as reports surface of the chance of 'No Brexit' or many Tories now potentially going to back Theresa May's Brexit deal in the 'meaningful vote' that goes before parliament tomorrow. PM May reportedly feels there is a better chance of "No Brexit" than a "No Deal Brexit" or hard Brexit. Yet pro-Brexit parliamentarians are expected to vote in favour of the separation agreement tomorrow. 

    EURO

    The Euro held firm today as the most volatile price action is concentrated around the pound and riskier currencies being sold. The single currency remains quite vulnerable to tomorrow's Brexit decision and any further slowing in inflation numbers 

    CANADIAN DOLLAR

    The loonie is weaker as pervasive 'risk off' sentiment hampered the commodity currency. Concerns of a global slowdown were magnified today as weaker data continues to come out of China.

     

    AUSTRALIAN DOLLAR

    The Aussie dollar is weaker today after global risk sentiment went negative after poor economic data being released from China fuelled concerns of a worldwide recession. This sentiment may hound the Aussie and kiwi dollars in the months ahead. 

    FEATURED CURRENCY

    Paste link in email or IM