Market Blast 16 April 2019

USDCHF - Par for the Course?

Gold, XAUUSD

The most significant issue this month has been Brexit and the ongoing concerns over the departure of Great Britain from the European Union.  Significantly, embattled British Prime Minister Theresa May already under growing pressure to her leadership and scrambling to win over opponents to her Brexit withdrawal plan, has had the process removed from her control.  United Kingdom lawmakers voted to take control of the Brexit process away from the PM's ailing government.  Lingering trade talks between the United States and China which have been having a flow on effect into many markets around the world, seems to have taken a back seat to Brexit and broader concerns about global growth. 

Several significant issues have continued into the New Year including Brexit which is quickly approaching the key date in March, as well as the lingering trade talks between the United States and China which are having a flow on effect into many markets around the world.  To add to the concerns, the International Monetary Fund (IMF) has recently warned governments to prepare for a possible economic storm as growth undershoots expectations.

Several significant issues have lingered into the New Year including Brexit, in which U.K. Prime Minister Theresa May was crushed in the crucial vote on her Brexit plans in the House of Commons.  The U.S. Federal Reserve have also recently been hinting at changing their policy stance which have now been made official in their latest two-day Federal Open Market Committee (FOMC) meeting.  "The case for raising rates has weakened somewhat," Powell said during a news conference following this week's FOMC meeting. 

Today 15th January 2019 at approximately 19:00 UK time voting will begin on Prime Minister Theresa May's much maligned Brexit deal.