Forex Today: sentiment driven by Brexit headlines

Here is what you need to know Tuesday, October 23rd:

  • The Brexit drama continues stealing the show. The UK Parliament voted in favor of UK PM’s Johnson deal, but against the proposed time-frame to discuss the bill, in order to complete Brexit next October 31st. The Sterling collapsed with this last, as PM Johnson insisted on his stance of pulling the UK out of the EU by that date.  A PM  spokesman later said that Johnson’s next step would be having talks with EU leaders and ask them not to extend the date, although hinting his open to a short extension.
  • The EUR/USD pair fell for a second consecutive day, dragged lower by Brexit-related headlines. The absence of relevant data coming from the US and the Union kept the pair in a limited intraday range.
  • Save-haven assets appreciated ahead of the daily close, Wall Street closed in the red as mounting Brexit uncertainty triggered risk-off.
  • Crude oil prices edged higher, on reports that OPEC and its allies were considering whether to deepen crude oil production cuts at their next meeting in December due to worries about the dismal energy demand outlook in 2020.
  • Cryptocurrencies were generally up, but turned south at the end of the day, plummeting to fresh daily lows. BTC/USD challenging 8,000. 

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