The dollar stronger against some currencies; UK parliament takes reins on Brexit
Laurence Hayward | March 26, 2019
The dollar is stronger against the yen but is tracking sideways against the euro. The Brexit picture has changed again with parliament taking the reins. Asian stocks jump higher. US Secretary of state said the US will not “stand idly by” if Russia sends troops to Venezuela.
“Nobility is being superior to your former self.”Ernest Miller Hemingway
March 26, 2019
EUR/USD 1.1290 GBP/USD 1.3234 USD/CAD 1.3379 AUD/USD 0.7137 USD/JPY 110.58 USD/CNH 6.7214 USD/ILS 3.6221 USD/MXN 19.0266 USD/CHF 0.9945 USD/INR 68.8600
The dollar is mixed against the other currencies. Eric Rosengren of the Fed wants more quantitative easing by shortening the length of asset buying on the Fed’s balance sheet. With the Mueller probe completed, President Trump has called for the investigators to be investigated themselves. House Democrats want the whole report to be made available to them. US stocks are unstable as the inverted yield curve brings concerns of slowing growth.GBP
The UK parliament voted to take over control of Brexit by a vote of 329 to 302. On Wednesday they will allow indicative votes on Brexit alternatives. These could include cancelling Brexit or having another referendum. A British newspaper said that the PM would consider resigning if parliament would pass her Brexit bill.EUR
The euro is tracking sideways in the same range as yesterday. German GfK Consumer Confidence slid to 10.4 from 10.7 heading into April. French GDP rose to 1.0% y/y from 0.9%.CAD
The Canadian dollar strengthened as oil rose on concerns that Venezuela production could be interrupted due to unrest in the country. No data out of Canada today.ASIA/PACIFIC
The Japanese Nikkei stock index rose over 2% as the yen weakened. The Shanghai Composite stock index slid a little lower.
The Australian dollar continues to slowly strengthen.
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