Morning News – 21.10.2019

By 21/10/2019News
Morning Stock News

Gold   1491,65
(+0,10%)

EURUSD   1,1158
(-0,05%)

DJIA   26796,50
(+ 0,24%)

OIL.WTI  53,78
(– 0,07%)

DAX   12668,71
(+ 0,11%)

USD has been falling for the 7th day in a row, while euro keeps going up. The UK Parliament is playing one game, while the PM is playing another. Now we just have to wait for the Brexit vote, postponed till Monday.

DAX30 Daily-Chart

On Saturday, the events followed an unexpected scenario. The UK Parliament was supposed to vote for the deal with the EU or against it. Instead, the MPs voted to ask the EU for another 3-month delay – the time needed to pass all the necessary legislation. And while Boris Johnson initially stated that he wouldn’t send a delay request, he did send one in the end – though unsigned.

EURUSD

Euro kept growing regardless of what was happening in the UK. The falling USD sends investors looking for a safe haven – and in Europe, this means euro. The pound is too volatile, while the Swiss franc looks oversold. The week closed at the exact peak of the daily and weekly candlestick, indicating that growth can continue.

GOLD

The price of gold remained virtually unchanged on Friday. Volatility was low – it seems that speculators are simply selling the asset, seeing that it won’t budge in either direction.

INDICES

The main global stock indices remain stuck and waiting. Small movements inside the corridor point to a local positioning game. Nobody was willing to bet big and move the market before the weekend. Since the expected Saturday vote in the UK Parliament didn’t happen, all attention will be focused on it on Monday.

What’s next?

08:00 Germany: Industrial producer price index (PPI) for September
17.00 Statement by Andy Haldane, Executive Director of Monetary Analysis and Statistics at the Bank of England

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