ONLINE FOREX BROKER
2020-09-07 • Updated
The UK Prime Minister Boris Johnson claimed that the Brexit agreement may come to a dead end as both sides decline to meet it halfway. He mentioned: “if no deal reached by October 15 with the EU, both sides should accept that and move.” Moreover, the Financial Times stated that the UK Government is going to impose new laws that can nullify some significant issues of the Brexit deal. That in turn makes the failure of the Brexit agreement quite possible.
EU-UK negotiations are scheduled for this week. Both sides have to reach an agreement by mid-October to prepare the ground for the soft Brexit at the end of this year. The delay will weigh on the British economy and add more obstacles for the soon recovery.
JPMorgan strategists claimed: “our economist’s assessment remains that the chance of no-deal is about a third, but with brinksmanship part of the process it may appear higher than that in coming weeks before agreement is reached”.
Long story short, there are strong factors for the further GBP’s falling such as the stronger USD and risks over no-deal Brexit. Moreover, there are no significant events on the economic calendar to change the current sentiment.
According to Credit Agricole SA, the British pound is going to plummet to 1.20 in case of the impasse over the Brexit deal. Keep that in mind, but for now let’s focus on the short term. If GBP/USD falls below the low of August 27 at 1.3180, the doors towards the next support of 1.3125 will be open. In the opposite scenario, the move above the resistance of 1.3250, which the pair has touched a few times already, will push the pound to the next resistance of 1.3350. Watch out levels and follow further news!
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Last Friday’s NFP was disappointing. The reaction of the markets was astonishing. Will it last longer? Let's find out the main trade opportunities for the upcoming week.
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?
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
