Forex Today: Brexit drama on its final stages
|Here is what you need to know Friday, October 18th:
- The world revolved around Brexit once again. The Pound soared on news indicating that an agreement was reached between EU´s and UK’s representatives. The initial headlines suggested that the Northern Irish Democratic Unionist Party (DUP) supported the deal, but the party later formally stated that it would vote against it, pushing the Sterling lower. Still, the EU27 approved the withdrawal agreement and the political declaration. The UK Parliament will decide on it next Saturday in a special session.
- Most major pairs got carried away by Brexit optimism. The EUR/USD pair surged to 1.1140, holding on to gains, despite the positive mood faded.
- The AUD/USD pair surged to a one-month high after a mixed employment report which brought a tiny light of hope about the jobs’ sector.
- Crude oil prices edged higher, despite the EIA reporter a larger-than-anticipated build in US stockpiles of 9.281M.
- Wall Street rallied at the opening amid solid earnings reports, but gave up most of its intraday gains ahead of the close, as the positive mood faded.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.