 Canadian and US Dollars ended last week as the strongest ones. It now appears that US and China are on track to complete the easier phase 1 trade deal in November. Optimism lifted stocks as well as oil prices, which indirectly helped the Loonie too. Also, recent developments in Canada support the neutral stance of BoC. USD/CAD is sitting close to 1.3 key handle while both Fed and BoC will meet this week. We'd probably see who's the real stronger one afterwards. Meanwhile, Sterling ended and dragged down other European majors. Brexit developments were positive as the Commons finally voted to support UK Prime Minister Boris Johnson's Brexit deal in principle. Yet, MPs couldn't agree to a fast track path to ratify the deal to meet the October 31 Brexit deadline. EU is said to agree to another Brexit extension, but hold back to the announcement, awaiting UK's vote on a December election, which Johnson called for. But opposition Labour was clear that they won't support an election unless no-deal Brexit is clearly ruled out. French President Emmanuel Macron was said to push for a short extension, at most month, to complete Brexit as soon as possible. The developments in the upcoming days remain fluid. |
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