ActivTrades’ Market Analysts have prepared for LeapRate their daily commentary on traditional markets for October 2, 2019. See details below:
FOREX
Despite general Dollar weakness, driven by the worst US industrial output data of the last 10 years, the Pound is still losing ground to the Greenback. The Irish border issue continues to stand in the way of the any possible agreement between the UK and the EU.
According to reports leaked to the media, Boris Johnson’s plan to deal with the issue has already been turned down by the European Union, meaning there will be no agreement between the 2 sides and, unless there is another postponement, the UK is set to leave the Union on the 31st of October without a deal. This explains why the Pound is once again under pressure, as the markets see a no deal scenario as the worst possible outcome for the process.
Ricardo Evangelista – Senior Analyst, ActivTrades