Irish PM Martin: Hope to have clarity on a Brexit deal by the weekend

Anil Panchal FXStreet

Ireland's new Taoiseach (Irish Prime Minister) Micheál Martin recently crossed wires, via Reuters, while suggesting that further clarity over the Brexit deal is expected by the weekend.

Earlier in the day, rumors spread that the UK is nearing a deal with the European Union. However, nothing could be confirmed but the GBP/USD cheered the chatters while refreshing a one-week high above 1.3450.

Read: GBP/USD pushed beyond 1.3450 after day of Brexit deal speculation

Following the latest news, the Cable remains mostly unchanged while waiting for the key inflation and activity data from the UK, not to forget the extra Brexit hints and the Fed.

The reason for the recent lack of reaction could be traced from the market player’s attention to the US stimulus headlines as the Congress member inch closer to the much-awaited deal.

Read: Progress was made on stimulus talks

Additional comments...

I would like hopefully by the weekend that we would have clarity around this and certainly it's important that we do get some clarity so that we can then get any deal that might come over the line ratified.

I think it's very important that we get a deal.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD slumps below 1.1750 as USD benefits from risk-aversion

EUR/USD comes under renewed bearish pressure in the European session and trades below 1.1750 following a recovery attempt earlier in the day. The US Dollar gathers strength and weighs on the pair as investors seek refuge in the wake of Israel and the United States' joint attack on Iran.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold surges on safe-haven demand, rises above $5,400

Gold benefits from intense risk-aversion on Monday and climbs above $5,400, setting a fresh monthly-high in the process. Tensions in the Middle East remain high as Israel and Hezbollah continue to exchange strikes following the US-Israel joint attack on Iran over the weekend.

Bitcoin, Ethereum and Ripple under pressure as key supports face breakdown risk

Bitcoin, Ethereum, and Ripple prices trade on the back foot at the start of this week on Monday, after extending losses in the previous week. BTC is on the brink of a breakdown, ETH is capped below key resistance, and XRP risks a crack of the trendline.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.