Daily Update - 17th October 2018
On Tuesday, the British pound gained against USD as it was supported by stronger than expected labor data, investors are still doubtful that the European Union Summit will yield much progress on the Northern Island border issue. Since the ZEW economy survey came negative the common currency Euro kept losing its grip over dollar on major markets due to stagnancy levels shown from the results released yesterday. Geo-Political tension between Saudi and the West kept mounting and the investors laid back cautiously on this while Stock market bounces back after a brief fall out. Today will be the highlight of the week, while we can expect some focus on the FOMC minutes, it’s all about the GBP and the EUR today, the EU Summit putting Brexit and Italy in focus. This will give us a clear indication on the progress of Brexit Negotiations between United Kingdom & European Union & their final blue print for their Trade Arrangements. GBP & Euro both will release their Consumer Price Index which will be a key indicator on the outlook of Brexit on both economies and its inflationary levels. Finally, the day concludes with US FOMC Minutes released from US Fed by the End of the day this will have the impact only by Thursday morning session globally.Yesterday’s Markets
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