Into FOMC & Brexit Vote
GBP ends another week as the strongest currency (see chart below of USD against 6 top currencies) and the USD as the weakest performer-- except against gold and silver. Now that British Parliament has voted against a no-deal and in favour of extending Brexit to another 3 months, Brexiters face the possibility of staying in the EU for another year in the event that they reject next week's vote on PM May's withdrawal deal. Global indices are pushing higher across the board and a key factor in deciding to not open a new short in indices was the relentless rally in oil prices. Brexit vote is on Tuesday and FOMC announcement/press conference and dot plot forecasts. The Fed stmt and Powell's press conference should shed more light on when it's likely to stop the process of selling resereves in its $4 trillion balance sheet later this year. From a trading perspective, 7 out of our 8 Premium trades are currently in the money, with silver being the exception. The 8 trades arein: EURUSD, GBPUSD, USDCHF, GOLD, SILVER, USOIL, BITCOIN and RIPPLE.
Where to now for GBP?
by Ashraf Laidi | May 20, 2019 12:19
Lame Duck May?
by Adam Button | May 17, 2019 11:56
بين الذهب والداو جونز
by Ashraf Laidi | May 17, 2019 11:28
Risk on as No War on Two Fronts
by Adam Button | May 16, 2019 12:55
Risk Can't Stay on, Bass Gives up
by Adam Button | May 15, 2019 13:09