
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
On Wednesday, the UK currency managed to strengthen after a dive overnight when the British main legislative body overwhelmingly voted down the country’s Prime Minister Theresa May's Brexit agreement, thus contributing to uncertainties surrounding Great Britain’s withdrawal from the EU.
As a matter of fact, the currency pair GBP/USD hit 1.2862 having tumbled to 1.2667 late on Tuesday.
On Tuesday, the UK parliament voted 432-202 against her deal, which appears to be the worst parliamentary defeat for the country’s cabinet in recent UK history.
The UK pound had gone down over 1% versus the evergreen buck in the wake of the vote, before bouncing off because the sizable defeat for the country’s Prime Minister was making the United Kingdom pursue different options.
However, there’re also fears that the given result may provoke political upheaval, which could result in a disorderly Brexit.
As some financial analysts explained, while the margin of Prime Minister’s loss appeared to be a surprise, but the defeat itself was something financial markets had been pricing in for a long time. As a result, traders covered their short positions in the UK currency following the vote.
March 29 turns out to be the deadline for Brexit, although with the clock rapidly ticking down an extension of the deadline currently seems more probable.
The UK pound was nearly intact versus the common currency. The currency pair EUR/GBP demonstrated a reading of 0.8874.
The euro stood still versus the greenback. The currency pair EUR/USD showed 1.1419.
As for the Japanese yen, it surged a bit versus the evergreen buck. The currency pair USD/JPY went down by nearly 0.12% being worth 108.53.
Gauging the evergreen buck’s actual purchasing power against its main peers the USD index tumbled by about 0.18% being worth 95.50.
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.
Last week was super intense! Geopolitical turbulence made the Russian ruble the most volatile currency. Gold rose and fell by more than 8000 points each time.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
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.