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GBP weakens as politicians continue to insist on hard Brexit

Posted on: January 09, 2017

Friday was certainly an interesting session, with Canadian employment numbers surprising the market to the upside with the biggest gain since 2012, with the gains in full-time positions. This caused CAD to rally, with USDCAD breaking through 1.3200 briefly before fading. While the report in the US missed expectations, a strong revision to the previous month sent US yields higher and the USD stronger against most of the crosses.

Overnight WTI has sold off, dragging CAD down with it. GBP is lower as the market hammers Sterling as politicians insist on a hard Brexit. Fairly light week on the data front, although we are heavy on Central Bank speak. The focus now shifts to the Inauguration of President Trump on January 20th.

Happy Trading!

  • Friday’s NA Range 1.3178– 1.3263
  • Asia Overnight Range 1.3226 – 1.3269
  • London Overnight Range 1.3231– 1.3277

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