Here's what you should know on Wednesday, October 23: Prime Minister Boris Johnson's Brexit deal handed the primary hurdle
Here’s what you should know on Wednesday, October 23:
- Prime Minister Boris Johnson’s Brexit deal handed the primary hurdle in parliament, however his expedited schedule for passing laws in three days. The federal government introduced it’s pausing the following phases. The vote makes leaving the EU by October not possible, and Johnson will now seek the advice of the bloc’s leaders, that are more likely to approve an extension till January 31, 2020, which is able to permit time for elections, maybe in early December. An alternative choice is to set a brand new timetable and attempt to push by way of the Brexit accord and depart earlier.
- The rising uncertainty has despatched GBP/USD under 1.29. EUR/USD was additionally dragged decrease. Extra Parliament approves Brexit, hedges on departure date
- The broader market temper “risk-off” resulting from Brexit and uncertainty about US-Sino commerce talks. The world’s largest economies might fail to finish writing Part One of many commerce deal by the APEC Summit in Chile in a number of weeks. The Japanse yen is strengthening, and commodity currencies are on the again foot.
- Oil costs are holding onto their beneficial properties after reviews advised OPEC is contemplating “deep cuts” to grease manufacturing in its upcoming assembly. WTI Crude Oil is hovering round $54. However, non-public stock information has proven rising stockpiles, limiting the advance. Official…