- Pound falls lower after Foreign Secretary Johnson resigns
- Sterling had earlier gained after Brexit Sec. Davis stepped down
- Equities start the new week higher
- Does CAD have a chance to gain post BOC?
- USD near key levels vs EUR, NOK and TRY
- Will digital asset be listed on Swiss stock exchange?
There’s been some swift downside seen in the pound in recent trade with the currency coming under pressure after another key politician has resigned. Foreign secretary Boris Johnson has followed in the footsteps of Brexit secretary David Davis in stepping down from his role in a move that could well pave the way for a leadership challenge to PM May.
Sunday night saw the resignation of Davis, and the pound was trading higher for most of the day after the prominent Brexiteer stepped down. A move towards a softer Brexit becomes more unlikely now Johnson has followed suit however and the coming days could well provide further twists and turns.
It’s been a pretty solid start to the week for stocks with indices in general moving higher. The UK100 has benefited from the GBP weakness, but also the DE30 and US500 are in the green as the markets look to build on Friday’s gains.
Looking at the OIS-implied likelihood one may notice that a rate hike from the Bank of Canada this week seems to be a foregone conclusion. Nonetheless, even as the move has been already priced in roughly 85% there are some more reasons to expect the CAD could outperform its counterpart from the United States over the oncoming months. In this analysis we are showing our reasoning behind this conviction.
3 USD crosses have reached or are near some very interesting levels today. Here, we look more closely at the EURUSD, USDNOK and USDTRY as all these markets trade close to potentially pivotal levels.
Over the weekend we saw a rise in the valuation of the most famous cryptocurrencies. The capitalization of the whole market sits a notch above the $270 billion while the capitalization excluding Bitcoin stands below $160 billion. An interesting news comes from Switzerland as principal stock exchange announced that is working on a new solution for digital assets.
This article is provided for general information purposes only. Any opinions, analyses, prices or other content is provided for educational purposes and does not constitute investment advice or a recommendation. Any research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Any information provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.
Past performance is not necessarily indicative of future results, and any person acting on this information does so entirely at their own risk, we do not accept liability for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.