Nothing is far off Friday’s closings this 14 january 2018
Only the kiwi seems to show signs of weakness .
There have been quite a few Brexit pro, contra interviews and opinions about who’s losing what in case of a “no deal” on the trade talks over the weekend , here are the links
- Nicola Sturgeon on BBC: BBC host Andrew Marr shut down First Minister Nicola Sturgeon after she suggested the Scottish Parliament could stop the Brexit Bill coming into effect.
Sturgeon:“I really do think it is shameful that the UK government, that is the government that is looking to take the UK out of the European Union, hasn’t even bothered to properly look at the impact on our economy.”
- On Bloomberg :”Corbyn, Sturgeon Set Up Barriers to Brexit Plans”
- Pro Brexit economists in the Sunday Express :”The pro-Brexit Economists for Free Trade group forecast that Britain will gain £651billion from walking away from talks, leaving the EU with a £507billion bill. “
- Furthermore on Bloomberg : There’s Still Hope for U.K. Financial Services in Brexit Deal
And the SPD wants to push their electorate to accept official governmental talks with Merkel’s CDU for the end of the week. In the meantime Reuters has some articles about the European Reform process and France and Germany are preparing a joint front against Donald Trump in Davos later this month.
As I mentioned on Friday’s closing rates post, tomorrow only sees EU trade balance come out and US is enjoying a long weekend for Martin Luther King’s Day. We could see pause in last week’s USD bashing but I don’t see any particular news nor reason that could reverse the move higher in EUR and maybe even GBP. We’ll have to monitor the flows going through once again. The steadiness of the moves suggested indeed major accounts on the move , such as Reserve Managers, longer term Investors.
We’ll be watching 1.2280 EURUSD , 110.80 USDJPY , 1.3800 on cable just to name a few .Retracements could be confined to 1.2120/30 , 111.60/70 and 1.3650/65 respectively .
Happpy Hunting, loads of pips and stay safe this week in our company