|Day's Range||1.288 - 1.289|
|52 Week Range||1.1959 - 1.3349|
A tentative agreement that would see the U.K. finally leave the European Union after more than three years of acrimonious wrangling gave U.S. stock-index futures a modest pop early Thursday. As Mohamed El-Erian, chief economic adviser to Allianz, put it on Twitter, the initial move higher by U.S. stock-index futures is “consistent with the view that investors are looking for policy progress to offset weakening global fundamentals, and growing central bank ineffectiveness” to be offset by progress on trade and fiscal policy.
The pound continued its upward surge on Thursday after a Brexit deal was agreed between the U.K. and the EU, but the currency could soar even higher.
The British pound has gone back and forth during the trading session on Thursday as we continue to see a lot of volatility in this market based upon the idea of a Brexit deal. With that being the case, the market looks likely to be erratic going forward. One thing you can say though, it’s definitely overbought.
Recent rotation in multiple foreign currencies hints at the fact that a new stage of the “Capital Shift” process is taking place and that skilled technical investors need to pay very close attention to how these currencies continue to react over the next 3 to 6+ months. In the recent past, most of the world’s foreign currencies were declining in value while the US Dollar continued to strengthen. In fact, we authored many research articles about these trends and how weakness in foreign currencies will drive new foreign investment into the US stock markets for two simple reasons; strength and security.
Boris Johnson has signed a deal he said he didn’t need, creating a border he didn’t want, under the authority of a Court he didn’t accept, to be submitted to a Parliament he doesn’t control.
European Union and British negotiators have agreed on an outline Brexit deal which still needs to be backed by EU member states and by the respective parliaments.
The Brexit pact reached between the European Union and Britain will struggle to get through the U.K. Parliament. And for Boris Johnson, the U.K. prime minister, that might not be a terrible outcome.
The British pound surged on Thursday while equities registered moderate gains in the wake of an agreed deal between negotiators for Britain to leave the European Union.
Equities rallied on the news as well as the British Pound, which jumped more than 1%. At the same time, investors dumped their hedge protection, leading to weakness in the Japanese Yen, Gold and U.S. Treasury bonds. The U.S. Dollar is also getting crushed against a basket of currencies.
Investing.com - The U.S. dollar remained tepid on Thursday, while sterling tried to hold onto earlier gains after reports that the U.K. and European Union had reached a Brexit deal.
The British pound spiked as Prime Minister Boris Johnson tweeted about a "great new deal" while Bloomberg quoted Jean-Claude Juncker, the president of the European Commission, as saying a deal has been reached. The Stoxx Europe 600 , the U.K. FTSE 100 and U.S. stock futures all moved higher on the news.
Investing.com - Sterling reversed gains on Thursday as hopes for a Brexit deal were dealt a serious blow after Northern Ireland's Democratic Unionist Party said it will vote against a Brexit deal.
Wild gyrations seen this week for the British pound continued Thursday, with the currency falling anew after a key group of Northern Ireland politicians said they can’t support U.K. Prime Minister Boris Johnson’s current Brexit plan. The pound has gained around 0.8% this week, but with plenty of ups and downs, while the FTSE 100 index (UK:UKX) has fallen 1%. As things stand, we could not support what is being suggested on customs and consent issues and there is a lack of clarity on VAT,” said DUP leader Arlene Foster and MP Nigel Dodds in a statement.
Investing.com -- The British pound fell in early trading in Europe on Thursday after Northern Ireland's Democratic Unionist Party said it couldn't accept U.K. Prime Minister Boris Johnson's latest proposals on Brexit. The DUP's resistance effectively rules out any chance of an agreement between the EU and U.K. on the latter's withdrawal at a summit that starts in Brussels later on Thursday.
The British pound initially tried to rally during the trading session on Wednesday but found enough resistance at the 1.2850 level to roll over. That being said though, the market ran down to the 1.27 level only to bounce again.
The British pound continues to impress, and has climbed to 5-month highs. The Canadian dollar and Mexican peso are showing limited movement.
Investing.com - The U.K. and EU will not announce a deal on Brexit Wednesday, according to several published reports. But a deal could still be announced later in the week as it was unclear at what juncture negotiations were at.
One newsletter writer says if the 3020 level on the S&P 500 (TICKER:SPX) is broken to the upside — “one decent day of gains” — the index would confirm the ‘breakout’.
The pound was on a rollercoaster ride Wednesday, while U.K. stocks fell as investors rode a wave of headlines updating on the Brexit-deal front. The U.K. FTSE 100 (UK:UKX) was down 0.3% to 7,184.21, while the British pound struggled as the possibly of the U.K. reaching an exit-deal with the bloc ahead of the start of a two-day EU summit that begins Thursday hung in the balance. EU and U.K. negotiators failed to reach a breakthrough in all-night Brussels talks which will continue on Wednesday.
The British pound was sent on a rollercoaster ride Wednesday, spiking briefly against the U.S. dollar on a report that a big obstacle to a Brexit deal has been removed. The pound briefly jumped to a session high of $1.2839, which would make for its best level since June, after RTE reported that Northern Ireland's Democratic Unionist Party was accepting the so-called consent element of the revised Brexit agreement, seen as the last big obstacle to a deal. The U.K. has said it's open to some flexibility on the mechanism that would allow Northern Ireland politicians to decide whether it remains in regulatory alignment with the European Union as set out in Britain's latest Brexit deal proposals. The pound has since fallen back after the DUP's leader Arlene Foster reportedly denied the report and said talks will continue. Markets have been on a knife-edge in the runup to a two-day European Union meeting that starts Thursday, seen as a deadline for a deal to get done. The pound has since drifted back to $1.2783.