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FOREX SUMMARY

FOREX

Most FX pairs have remained stable this afternoon, beside of course the old British Pound as the street awaited the EU Summit and the state of play on Brexit.

  • Cable plummeted 90 pips to 1.2865, when UK Johnson said that UK should be ready for an Australian style deal.
  • But GBP recovered, now at 1.2922 at the time of typing, after Boris confirmed that the UK is not Walking Away, But There Must Be Change Of EU Approach.
  • The EU are now ready to engage in further trade talks in London next week.
  • US Data were mixed this afternoon, with US Retail sales beating expectation, while US IP missed the survey.
  • Finally US Michigan came above expectations, but most of the price action was mainly seen in US Bonds and Equities,
  • Equities are trending higher this afternoon, keeping the USD heavy, but yet mixed against the majors.
  • The Rand is the best performing currency, up 0.66% versus the Greenback.
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