U.S. President Donald Trump has declared that the United States will lift sanctions on Turkey as a result of a “permanent” cease-fire agreement with Kurdish militant groups. The Turkish lira, ETFs and government bonds rose after the word. On Brexit, British Prime Minister Boris Johnson spoke with European Council President Donald Tusk this morning to inform him that he opposes a Brexit extension and still desires to leave the EU on 31 October. EU officials have said in a new meeting that the bloc will not get a decision today on a Brexit extension, possibly on Friday. GBP/USD edged up today after yesterday’s decline.
The DXY rebounded below 97.65 on Wednesday, with a correction above 97.40 and closing at 97.49, with the USD’s short-term pullback likely to stay at a rally. If the DXY pullback is supported above 97.35 today, the quarry of the post-market rally will point to 97.65-97.75. Today, DXY short-term resistance at 97.60-97.65, short-term important resistance 97.70-97.75. DXY short-term support at 97.35-97.40, short-term important support at 97.25-97.30. Continue reading
Britain’s parliament voted on Tuesday to reject a limited time frame for reviewing Brexit-related legislation. This means that the UK will almost sure not to leave on 31 October, while the EU will extend Brexit to prevent a non-deal. This sent THE GBP/EUR and GBP/USD down, but the decline was limited, as the markets saw little chance of a no-deal Brexit.
British MPs voted 329 to 299 in a crucial second reading vote to extend the prime minister’s Brexit deal, which would open the debate and possible amendments to the deal, a rare victory for Prime Minister Boris Johnson. It is also the first time the British Parliament has shown support for a deal on how Britain will leave the European Union, although it is still in the early stages of the legislative process. Only a few minutes later, MPs voted 322 to 308 to reject a motion that sets out a three-day schedule to speed up the passage of the Brexit deal bill in the House of Commons. The government reads this is necessary to achieve Brexit on time. The vote came after Mr. Johnson warned Parliament that he would abandon his efforts to ratify the deal in January if it rejected the timetable and forced him to delay Brexit in January to push for an early election with the slogan “Get it done.” Continue reading
Mr Bercow, the Speaker of the House of Commons, has refused to take a second vote on Prime Minister Boris Johnson’s Brexit deal, adding hurdles to the deal being approved by the October 31 deadline. As a outcome, the dollar reversed against the euro and the pound during the session. GBP/USD reaches $1.30 above.In addition, Brexit optimism has boosted the euro by 2.26% per cent this month.
The DXY rebounded below 97.40 on Monday, falling above 97.10 and closing at 97.33, meaning the USD is likely to remain on the rebound after a short-term decline. If DXY falls above 97.15 today, the goal of the post-market rally will be 97.45-97.55. DXY short-term resistance at 97.40-97.45, short-term important resistance 97.50-97.55.DXY short-term support at 97.15-97.20, short-term important support at 97.00-97.05. Continue reading