Forex Today: Critical vote on Brexit, mixed messages on trade talks, Trudeau returned as Canadian PM

Here is what you need to know on Tuesday, October 22: Brexit: Parliament will have its first say on Prime Minister Boris Johnson's deal today after 18  |  22/10/2019 05:36

Here is what you need to know on Tuesday, October 22:

  • Brexit: Parliament will have its first say on Prime Minister Boris Johnson's deal today after 18:00 GMT. After Speaker John Bercow denied the government another "Meaningful Vote", Johnson has opted for the full legislation, known as the Withdrawal Act Bill (WAB). The House of Commons will then vote on the voting program which aims to conclude the process within three days, to get Brexit done by October 31. The opposition is set to push for amendments, including a customs union and a second referendum, which may derail the process. The EU is watching the process and ready to grant an extension. Another volatile day is likely for GBP/USD, which hovers around 1.30.
  • Trade talks: US officials have been sending mixed signals about the state of negotiations. White House adviser Larry Kudlow suggested that the US may drop its intention to slap new tariffs on December 15 if talks go well. President Donald Trump was also optimistic, while others suggested it may take move time. The broad market mood is positive. USD/JPY is below 109 and Gold under $1,500. 
  • Canada: Incumbent Prime Minister Justin Trudeau won a minority government and lost the popular vote. He is set to be returned as PM but will need support to pass major legislation. The Canadian dollar held up its gains, with USD/CAD trading below 1.31. The Bank of Canada's Business Outlook Survey and Canadian Retail Sales are on the agenda today.
  • US Existing Home Sales and the Federal Budget Balance are of interest, but trade and Brexit will likely set the tone. 
  • Cryptocurrencies have stabilized with Bitcoin around $8,200, 

 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on finance
and other asset classes for Market Insight viewers

Back

Login to Market Insight Account

Your Market Insight account gives you access to the tools that we offer our customers including our
Technical Studies & Sentiment for your accounts.

Forgot Password?

Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

Create a Market Insight's Account

Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

register_ty

Thank you!

Welcome to Market Insight family!

You have succesfully completed the registration.
We will send you an e-mail to give you some
instructions and our Terms and Conditions!
Our account representatives will be contacting you as
soon as possible. If you have any further questions
please do not hesitate to mail us via info@marketinsight.com