Market updates on November 21
The news concerning the US-China phase one trade deal may determine the moves of the market.
Will the situation change for the British pound?
The reports that the UK and the EU reached a deal pushed the GBP up immediately. However, the optimism turned out to be short-lived, as Northern Ireland's DUP party did not approve the agreement. In addition, the leader of the Labour party Jeremy Corbyn said that the current deal was worse than the deal by Theresa May. The Parliament is expected to make a significant vote on a new Brexit deal on Saturday. If the deal is rejected, the chances of a no-deal Brexit or a further delay of the key Brexit deadline (October 31) will increase. It will pull the GBP lower. The GBP/USD pair has tested the highs above the 1.2970 level on the news but has fallen towards the support at 1.2745 after negative comments by the DUP members. The next support level will be placed at 1.2686. If Mr. Johnson manages to reassure the market with some positive updates, the pair will retest the 1.2876 level. After that, the next resistance levels will be placed at 1.2920-1.2943.
Similar
Will the ECB monetary policy accounts affect the euro?
The ECB monetary policy accounts will be published at 14:30 MT time on November 21.
Will the RBA meeting minutes pull the AUD down?
The RBA meeting minutes will be released at 02:30 MT time on November 19.
Latest news
Market updates on November 21
The news concerning the US-China phase one trade deal may determine the moves of the market.
Market updates on November 20
The US dollar is under pressure down, the Canadian dollar is in the correction.
Market updates on November 19
Updates on the US-China trade deal are in focus
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