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There are talks that the EU Commission president Mr. Juncker is to say that the UK shouldn’t hope that the EU will soften its demand. However, he will reaffirm its willingness for a close partnership after the Brexit deal is solved.
Mixed news has affected the pound a lot. Yesterday the GBP/USD pair formed a doji candlestick that signals doubts of investors. Up to now, the pair has been trying to rebound from the support at 1.30 (50-day MA) and break above the resistance at 1.3033. No important economic data will be released today. As a result, only positive news on the Brexit deal will be able to support the British currency. As a result, risks of the fall are high. The first support is at 1.30. The next one is at 1.29.
Yesterday USD/CAD plunged below the support at 1.31. Up to now, the pair has been moving down. And the further weakness of the USD will pull it to the support at 1.3015. If the USD recovers, the pair will be able to turn around. The resistance is at 1.31.
Brent surged to $79.50 from $77.38. Up to now, the oil benchmark has been moving down because $79.50 is the strong resistance. And the oil prices need stronger support to break above it. The support is at $78.35.
WTI surged yesterday as well. The oil benchmark reached the highs near $70. Up to now, WTI prices have been moving down. The support is far, at $68.25. In case of positive news, the benchmark will be able to return to the resistance at $70.50.
That’s all for today! Follow market news with FBS!
The Canadian dollar has chances to keep trading at good levels. According to the recent statement of the Bank of Canada, the country’s economic data are in line with the forecasts.
The main focus today is on the UK retail sales, which are expected to fall by 0…
In August, UK consumer prices jumped by 2…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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