EURUSD 1.1169 |
USDJPY 108.41 |
GBPUSD 1.2953 |
AUDUSD 0.6856 |
USDCAD 1.3123 |
GBPJPY 140.45 |
EURJPY 121.11 |
AUDJPY 74.33 |
CADJPY 82.60 |
Silver 17.53 |
ECB Action Sheds Doubts on Yield Differentials
Can the euro gain despite the latest rate cut. Before we cover the aftermath of Thursday's drama-fillled ECB decision, let's backtrack for a bit.
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Obtaining the required 320 votes to back Saturday's passing of the Brexit deal will be tough but not impossible. If the deal passes, we expect gaps in cable to as high as 1.3180s. How about if Parliament rejects the deal? Will it depend on the margin of defeat? Will a rejection by a 2-vote margin have a different GBP impact than 15-vote margin? We saw how GBP retreated on Thursday when the DUP said it will vote against the deal in parliament, making unlikely the deal will pass in its current form. More on the necessary numbers in here. As I write this, GBPUSD has spiked 0.3% to 1.2932 on reports that the Brexit deal will be passed tomorrow.
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GBP-USD Yield Spreads
As GBP becomes the 2nd highest performing currency in the G10 since the start of the year, posting daily gains not seen in 10 years, here is a look at the current yields situation, with GBP...
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Ashraf
As just one example today the US stocks are up huge, and the Pound down. This strong correlation that was develping with the Pound and US stocks for awhile has had to deal with various UK domestic headlines that can pull it in all kinds of directions.
Where do you think the bears return?