MARKET UPDATE 13-Mar-19

This morning, the British Parliament rejected Theresa May’s deal to quit the European Union for a second time. This further deepens the country’s political crisis just days before the planned departure from the bloc on March 29.

Following this, the pound stabilized but the investors are bracing for more volatility ahead of additional Brexit proceedings.

In the U-S, a key measure of underlying inflation unexpectedly eased in February. This means the Federal Reserve now has more room to stick to its plan for being patient on raising interest rates.

And…. the Aussie los a bit of steam, after a gauge of their local consumer confidence fell to its lowest in over a year in March.

FX Rates – 13.03.19

 

 

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