Brexit

The UK government was defeated in parliament on Tuesday will have to publish full Brexit legal advice at 11:30 GMT.  The UK parliament begins a debate about the Brexit agreement with the meaningful vote resuming on December 11. With the loss in the UK parliament, the market sentiment turned...

The European Court of Justice that the UK could unilaterally revoke Article 50 and eventually decide not to leave the European Union. The Bank of England Governor Mark Carney testified about the Brexit Withdrawal agreement before the Treasury Select Committee repeating that no-deal Brexit is not...

The GBP/USD is trading on the upside after the US and China signed temporary trade war truce agreement and Risk-on mood saw US Dollar retreating lower. The UK manufacturing PMI rose unexpectedly strongly to 53.1 in November, up from 51.1 in the previous month but had no market impact. The UK...

The GBP/USD reversed an initial gain and it is treading down at a 1-month low of 1.2710 after the UK Labor party said it will initiate no-confidence vote if Brexit deal fails to pass the parliamentary vote on December 11. The US and China signed a temporary trade war truce agreement promoting a...

The UK Chancellor of Exchequer Phillip Hammond joined the debate before the Brexit deal parliamentary vote saying this is the best plan available. The GBP/USD is stuck to mid 1.2700s, just of November 15 lows. The GBP/USD trades close to the lower boundary of the broader range ahead of December 11...

Brexit summit sealed the Brexit deal on Sunday but failed to support Sterling on a massive basis. The UK Brexit Secretary Stephen Barclay said it is going to be a tough task to get the Brexit deal past  UK parliament. The GBP/USD needs to break above 1.3000 to escape from the downward sloping...

The UK Prime Minister Theresa May is expected to hold a meeting with the European Commission President Jean-Claude Juncker later on Wednesday to discuss Brexit amendments. Spain said it will vote against the Brexit agreement asking for the text amendments to Gibraltar proposal on Tuesday. UK...

UK Prime Minister May insists that the UK will be leaving the EU in March with no obligation on free movement in the backstop.  Theresa May discussed with Michael Gove but will appoint new Brexit Secretary in coming days. Sterling stabilized above 1.2800 after the recent slump, remains...

The Brexit agreement is out with UK government standing behind Prime Minister May, but Brexit Secretary Raab steps down. The question is if Theresa May is able to get the Brexit agreement postponing the Irish border solution passed in parliament and survive a potential no-confidence vote. The...

EUR/USD's gains are limited by fears that the Brexit deal could be derailed. US retail sales, speeches by Fed officials, and Brexit are set to dominate.  The technical picture is improving for the pair. EUR/USD is trading above 1.1300 but off the highs. Brexit is dominating the headlines...

The UK labor market remains tight even with the unemployment rate ticking up from a four-decade low to 4.1 percet in October. The UK regular pay (excluding bonuses) accelerated to 3.2 percent over the year in three months to September, up from a decade high of 3.1 percent in the previous period....

The GBP/USD is trading up 0.4 percent at around 1.2900 ahead of the UK labor market data after slumping more than 1 percent on Monday on escalating Brexit uncertainty. The UK pay growth is expected to accelerate with total pay rising 3.0 percent y/y. The GBP/USD currency pair needs to close the...

Junior coalition Unionist party said it will not support a Brexit deal leaving Northern Ireland separated from the rest of the UK. Earlier this week the UK Cabinet was invited to study the Brexit agreement without the crucial part on the Irish border that is being negotiated in Brussels. The UK...

The EUR/USD drifts down as the dust settles from the US elections. The Federal Reserve will likely remind us of monetary policy divergence. The pair is trading within an uptrend channel but may challenge the lows. The EUR/USD is trading above 1.1400 but far from the highs of 1.1500 seen on...