According to analysts at Westpac, the past week has been high on drama for the UK economy, with three Brexit votes in Parliament.

Key Quotes        

“First, Prime Minister May’s deal was voted down for a second time. Then a ‘no deal’ Brexit was precluded by the second vote. And finally via the third vote, scope for an extension of the Article 50 negotiation period was approved.”

“While the second and third votes are positive steps, they do not narrow the divide between the various political factions. Indeed, the potential length of the extension is particularly divisive. If PM May’s agreement is successful, Parliament have agreed on an extension to 30 June.”

“But, if unsuccessful, uncertainty is set to remain rife as the extension date for this scenario was not made absolute by the third vote. It is likely that the EU will push for as lengthy a negotiation period as possible. In our view, this is the best that can be hoped for, in order to allow perspective and time for fruitful discussions.”

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.

Feed news

Latest Forex News

Editors’ Picks

AUD/USD slips below 0.6700 as RBA minutes keep a bearish bias

AUD/USD declines to 0.6700, with the recent low of 0.6697, following the release of RBA minutes during Tuesday’s Asian session. The minutes statement reiterated the policymakers’ readiness to ease the policy if needed.

AUD/USD News

USD/JPY bulls seeking higher-highs on 110 handle

USD/JPY idles at the top of the day's range in holiday thin markets, oscillating around 109.93 having travelled from a low of 109.71 to a high of 109.96.

USD/JPY News

Coronavirus peaking? How will it impact the Chinese & wider economies and FX?

Coronavirus third straight day of a drop in new cases; Financial and commodity markets are in recovery. Markets have been encouraged by the Chinese authorities early response to the outbreak. Disruptions outside China are likely to be limited to parts of Asia.

Read more

WTI: Teases bears below 100-bar EMA

WTI declines to $52.20 during the Asian session on Tuesday. The energy benchmark recently dropped below the short-term ascending support line while extending its weakness below 100-bar EMA.

Oil News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures