• Pound volatile as Parliament takes control of Brexit

    blogMarket Info Update

    Last night, MPs voted in favour of taking control over Brexit, forcing Prime Minister Theresa May to hold back on a third meaningful vote. The voting was split 329 to 302 in favour of finding an alternative strategy which includes a second referendum, a no-deal Brexit, the U.K. staying within the customs union or cancelling Brexit altogether. GBPUSD rallied on the back of the vote, reaching a level of 1.3223 at 22:16 GMT. The Pound has been very turbulent on any Brexit related news with GBPUSD falling to 1.3166 at 09:42 GMT before recovering to 1.3211 at 09:57 GMT.

    European markets edged slightly higher this morning as concerns over a possible recession quieted. The CAC 40, DAX 30, EU Stoxx and FTSE 100 were all slightly higher.

    Looking at individual stocks, Ocado’s (LON:OCDO) share price rose over 4% after it signed an e-commerce partnership with Australia’s Cole Supermarkets.

    The U.S. Index futures were also higher this morning as market participants focus on the bond market. Markets were also bolstered after the Meuller report findings in which no evidence was found that President Trump colluded with Russia.

    On the data front, we have U.S. CB Consumer Confidence at 14:00 GMT.

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