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Monday, October 21, 2019

Daily Brief OCT 21-2k19

Oct 21 Daily Brief
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All last week the focus was without a doubt on the Brexit. While a deal was stuck we ran into the same situation whereby the UK Parliament just can’t agree on anything.
That has already seen the GBP/USD open the week lower and time will tell if that negativity spreads through Europe and the US.
Markets were upbeat on the back of the US-China min-deal and some positive economic data until the weekend Brexit vote. PM Johnson still believes he can get something done by month’s end, so that will be the new rolling target for all those in the UK and EU.

There are a few key data points that we will be looking for this week, with the main focus also coming out of Europe.
We have the monthly ECB meeting and that might be one to watch for further signs of monetary policy changes to attempt to stimulate the economy and clearly the EUR/USD will be in focus. While no change in rates is expected, it will again be what Draghi has to say that could be of most interest to markets.
Data is thin to start the week, so all of the focus today, will be on that Brexit fallout and whether or not the Pound can hold up throughout the Euro session. 
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