News background & trading ideas for 13/03/2019
The financial market's attention has been captured by the UK Parliament. So, the GBP was highly volatile, seemed like nervously dancing, moving of 100-200 steps up and down. The result is: the British Parliament rejected Brexit deal (391 deputies voted against the agreement, 242 voted in favor).
Today the parliament is going to vote on whether or not to pursue a no-deal Brexit. Chance of no-deal Brexit is almost nil. The Labour leader Jeremy Corbyn claimed that no-deal Brexit, which is a threat to the country, should be removed from the today's agenda.
Thus, the outcome of tonight's vote is “against” deal of leaving the EU. So, that what happens next. There is another parliament votes on delaying Brexit. We believe that a large margin will support it.
This scenario was considered by us as the most likely, so our position on the pound is unchanged - we are looking for points for its buying. The big game continues. We voiced the outcome of this game in September 2018. Now, we are just watching its progress. Earning by buying the pound on descents within the day.
Another news is that did not leave the headlines of financial publications and provoked increased volatility in trading is Boeing. Following China, the use of the Boeing 737 Max 8 model aircraft was suspended by a number of countries. We have already noted that you should not panic, but you should use the current panic as an opportunity to earn money. Two planes that fell in half a year are no more than an accident but a series of failures for one of the most popular passenger aircraft models in the world. The company has already issued a statement about updating the software, which potentially could cause an error in flying the plane. We believe that in the near future the situation will be settled entirely and fully, and shares of Boeing will return to their original positions.
About the macroeconomic statistics of the previous day we, first of all, note the US weak inflation data. Consumer price index (CPI) in February + 1.5% y / y, with the forecast + 1.6% y / y. That confirms our recommendations for selling the dollar in the foreign exchange market.
The UK data came out surprisingly positive: industrial production and GDP were significantly higher than analysts' forecast.
In relation to the news the following day in interesting because of macroeconomic statistics. It is primarily interesting with data on orders for durable goods in the USA, as well as industrial production in the Eurozone.
Our trading preferences, besides those already cited above, are the following: we buy oil and gold on the intraday basis, we sell USDCAD, but we buy USDJPY. And do not forget to sell the Russian ruble. Yesterday’s resolution of the European Parliament on excluding Russia from the strategic partners list and recommendations to halt the building of the Nord Stream-2 gas pipeline (contraries to strategic interests of the EU) provides an excellent reason for this.
Today the parliament is going to vote on whether or not to pursue a no-deal Brexit. Chance of no-deal Brexit is almost nil. The Labour leader Jeremy Corbyn claimed that no-deal Brexit, which is a threat to the country, should be removed from the today's agenda.
Thus, the outcome of tonight's vote is “against” deal of leaving the EU. So, that what happens next. There is another parliament votes on delaying Brexit. We believe that a large margin will support it.
This scenario was considered by us as the most likely, so our position on the pound is unchanged - we are looking for points for its buying. The big game continues. We voiced the outcome of this game in September 2018. Now, we are just watching its progress. Earning by buying the pound on descents within the day.
Another news is that did not leave the headlines of financial publications and provoked increased volatility in trading is Boeing. Following China, the use of the Boeing 737 Max 8 model aircraft was suspended by a number of countries. We have already noted that you should not panic, but you should use the current panic as an opportunity to earn money. Two planes that fell in half a year are no more than an accident but a series of failures for one of the most popular passenger aircraft models in the world. The company has already issued a statement about updating the software, which potentially could cause an error in flying the plane. We believe that in the near future the situation will be settled entirely and fully, and shares of Boeing will return to their original positions.
About the macroeconomic statistics of the previous day we, first of all, note the US weak inflation data. Consumer price index (CPI) in February + 1.5% y / y, with the forecast + 1.6% y / y. That confirms our recommendations for selling the dollar in the foreign exchange market.
The UK data came out surprisingly positive: industrial production and GDP were significantly higher than analysts' forecast.
In relation to the news the following day in interesting because of macroeconomic statistics. It is primarily interesting with data on orders for durable goods in the USA, as well as industrial production in the Eurozone.
Our trading preferences, besides those already cited above, are the following: we buy oil and gold on the intraday basis, we sell USDCAD, but we buy USDJPY. And do not forget to sell the Russian ruble. Yesterday’s resolution of the European Parliament on excluding Russia from the strategic partners list and recommendations to halt the building of the Nord Stream-2 gas pipeline (contraries to strategic interests of the EU) provides an excellent reason for this.
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