www.varchev.com

European markets awaiting a breakthrough around Brexit

For now, a strong day for the dollar, which is making good movements against other major currencies. But I expect the session ahead to revolve mainly around the pound as the UK Parliament returns from its summer break and will vote to remove the no-deal Brexit from the table. This will force Boris Johnson to replace Clause 50 again, most likely by January 2020.

In general, this will probably lead to new elections, so expect BoJo’s majority to evaporate in such a turn of events. In addition, we remain focused on sentiment risk, as the US and China continue to have difficulty setting a date for trade talks in Washington this month.

For the moment, US stock futures are pointing up, and I expect Europe to start trading the same way. For the reasons outlined above, the session will maintain its cautious tone in anticipation of a catalyst to give direction to cash flows. The economic calendar does not provide much to market participants, so risk-sentiment remains the main actor.


 Trader Aleksandar Kumanov


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance