The G20 summit took place in Bali, Indonesia, on November 2022…
Brexit deadline is set on Halloween
Information is not investment advice
GBP/USD has bounced off the key support of 1.30 and turned to the upside. The pound is widely anticipated to rally further amid rising hopes for the end of Brexit talks this weekend on Halloween. Telegraph reported that the EU and the UK have already agreed on 90% of the deal. Chances are really high.
The only thing left is fisheries. And, here is the problem as France totally disagrees with the current position. The French president Emmanuel Macron tried to defend his fishermen from unbeneficial conditions and job losses. A fourth of France’s catch in the northeastern Atlantic was in British waters, and no access to British waters might be devastating for France. However, Reuters reported that he already told his fishermen to be ready for the impact, indicating that France is possibly ready to agree on this issue. “Macron holds the key,” said an EU diplomat following Brexit. “If France climbs down, we can get a deal.”
GBP/USD has reversed from the 50-day moving average of 1.3000, which was acting as strong resistance during August and then as support in September and October. The most probable scenario is that the pair will rise to the high of October 21 at 1.3150. If it breaks it, the doors towards the next resistance of 1.3250 will be open. In the opposite scenario, if it manages to drop below 1.3000, the way to October’s dips of 1.2870 will be open. Follow further news about Brexit and be ready for the increased volatility, when the deal is reached!
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.