UK PM May's spokesman: PM to set out details of new Brexit deal in a speech this afternoon at 15 GMT

Eren Sengezer FXStreet

British Prime Minister Theresa May's spokesman recently announced that the PM will be setting out the details of the new Brexit offer in a speech today at 1500 GMT.

Key quotes (via Reuters)

Cabinet discussed new deal on Brexit to be presented in parliament.
New deal includes alternative arrangements, workers rights, environmental protections and assurances on integrity of UK in event of backstop.
PM told ministers the WAB is the vehicle to get UK out of the EU and it is vital to find way to get it over the line.
Cabinet meeting was characterised by shared determination to pass the WAB.
There has been discussion about parliament having a role in determining future relationship with EU.
We haven’t set out a timetable for indicative votes so far.
Asked about whether a second referendum was raised in cabinet, says they discussed a whole range of issues.
No deal remains a plausible outcome and work is ongoing.
To get a new deal through parliament it is clear that it will have to contain significant new aspects.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.