GBP Reached 1.28 USD. The Investors Are Evaluating The Brexit Conundrum

Yesterday the major currencies were showing some active trading. The USD Index (#DX) closed the trading day in the greed (+0.13%). The situation around Brexit remains in the spotlight. The pound is weakened against the American currency by 200 points and reached the 1.28 USD mark. The government of the UK does not approve the current Brexit project. Dominic Raab, the Secretary of State for Exiting from the EU, announced his resignation. He states, that he cannot accept the current conditions of the London and Brussels treaty. Political pressure in Great Britain keeps pushing the pound down.

The USA published a series of ambiguous reports. In October the volume of the retail sales grew by 0.8%, which is higher than the 0.6% expectations. In November the Purchasing Managers' Index by Philadelphia Federal Reserve dropped from 22.2 to 12.9. The financial market participants are waiting for the EU inflation report.

The quotes on oil started to recover. The WTI futures are testing the mark of 57.30 USD/barrel. We recommend you keep an eye on the U.S. Baker Hughes Oil Rig Count – 20:00 (GMT+2:00).

Market Indicators

The major US stock indices closed in the green: #SPY (+1,04%), #DIA (+0,92%), #QQQ (+1,75%).

The 10-year US government bonds yield is 3,10-3,11%.

The Economic News Feed for 16.11.2018:
  • - Customer Price Index (EU) – 12:00 (GMT+2:00);
  • - Manufacturing Sales (CA) – 15:30 (GMT+2:00);
  • - Industrial Prodaction (US) – 16:15 (GMT+2:00).

by JustForex, 2018.11.16

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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