British Prime Minister said that she will submit a draft revision of the Brexit agreement to the British Parliament on Tuesday again, and he hopes that Congress will support her proposal for a Brexit agreement and implement the orderly Brexit before the deadline. If Congress passes the draft, the Brexit deadline is expected to be extended to May 22, otherwise, the UK may have to leave Europe in advance without an agreement on April 12, UK time. At that time, all issues come up and expected that the problem will drag down the UK domestic economy step by step. Assuming most of the UK’s assets and funds will flow to other European regions, leading to a possible recession in the UK economy. The Brexit discussion and voting will become a trend of the pound, and it is more likely to increase the fluctuation of the pound.
In addition, the market is waiting for the US ADP employment change and Friday’s the US non-farm payrolls. In the short-term the market expected, the number of non-farm payrolls has rebounded from last month, the unemployment rate has remained at 3.8%, and average wages have continued to grow a bullish dollar. On Wednesday, we will observe changes in ADP data, and assess the number of non-farm payrolls. Of course, if the number of non-farm payrolls still below the number of 180,000, reflecting that the US economy is slowing down, and the economic recession is expected, the Fed may consider cutting interest rates, which is negative for the US dollar. Other currencies will have an opportunity to rise against the dollar and gold prices.
[Important data and events today]:
1 16:00 Eurozone March Manufacturing PMI
2 16:30 UK March manufacturing PMI
3 17:00 Eurozone February unemployment rate and Eurozone March CPI annual rate initial value
4 20:30 US 2 retail sales monthly rate
5 22:00 US March lSM manufacturing PMI
6 Tomorrow, 03:10 Bank of Canada governor gave a speech
EURUSD by 4 Hourly chart
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AUDUSD (4 Hourly charts)
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XAUUSD (4 Hourly charts)
US crude oil futures (4 Hourly charts)
US Dow Jones Industrial Index Futures US30 (4 Hourly charts)
ATFX Chief Analyst of Asia Pacific, Martin Lam
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
https://www.atfx.com/gmo/wp-content/uploads/2018/06/logo.png00Martin Lamhttps://www.atfx.com/gmo/wp-content/uploads/2018/06/logo.pngMartin Lam2019-04-01 04:29:322019-04-01 04:29:32Focusing on Brexit and NFP this week.
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