FX News Today
- Brexit: A crushing defeat of May’s Brexit deal yesterday brings new uncertainty about Europe’s political future. The odds for a delay and/or new referendum are now higher.
- GBP bounced: Cable has advanced to the 1.2889 level, up from just under 1.2700 ahead of the vote.
- China injected $51.6 bln via reverse repo operations – The biggest daily net cash injection from China’s central bank on record.
- Japanese markets underperformed and Nikkei was down -0.55%.
- Yen weaker amid risk-back-on sentiment.
- Oil prices are also up and the front end WTI future is trading at $52.26 per barrel.
- German Dec HICP inflation confirmed at 1.7% y/y, leaving 2018 HICP at 1.9%.
Charts of the Day
Main Macro Events Today
- BoE’s Governor Carney speech – Draghi will probably strike a cautious tone and acknowledge that the balance of risks is starting to shift to the downside.
- UK Retail Price Index and Inflation – Expectations –The headline CPI is expected to come in unchanged at 1.8% y/y and December Retail Price Index is expected, to rise by 0.5% after falling in November.
- UK PPI and Core – Expectations –December headline PPI is forecast dipping 2.1% y/y, while the core is expected to be unchanged at 0.2%.
- PM May’s Leadership Challenge – Conservative Party lawmakers will hold a vote to express confidence in PM May’s government.
Support and Resistance Levels
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Andria Pichidi
Market Analyst
HotForex
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