EncoreFX’s daily market updates are written by our experienced and professional dealing team.
• UK Parliament voted in favour of taking control of the Brexit process yesterday, of which will allow lawmakers to hold a series of policy votes to determine the path forward. The range of possible outcomes include everything from leaving with no deal to holding another referendum.
• The US housing market is set to pick up this morning as investors will get a pulse on the market when the Commerce Department releases February’s housing data. The data comes after positive housing data reported for January with a 18.6% jump to a seasonally adjusted annual rate of 1.2 million units during the month.
• EURUSD has continued to slide this week, with the pair currently trading at 1.130. On the data release front, German GfK Consumer Climate fell to 10.4, alongside US CB consumer confidence expected to improve to 132.1 points later this morning.
• West Texas Intermediate prices rose this morning after pullbacks from 2019 highs at $59.80. Positive sentiment was impacted by broadly weaker data in the past few sessions, as market participants have an eye on OPEC actions in reduction and US sanctions on Iran and Venezuela.
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