Expectations rise over BrexitOctober 2, 2019
UK administration to announce its Brexit strategy
The UK Administration developed an updated Brexit agreement, according to BBC.
It is anticipated that the government will reveal its plan to the public shortly according to a senior government person. The administration has proposed building “customs clearance zones” in the Irish Republic and Northern Ireland as a piece of the plans. The propositions for striking a Brexit agreement had been anticipated before a critical EU summit on 17 October.
The United Kingdom is expected to depart from the EU on 31 this month, and Boris Johnson UK Prime Minister says that his country will depart EU whether or not there is a new agreement with Brussels.
Dow advanced more than 100 points
On Monday U.S Stocks rose due to confidence about US-China trade discussions while markets ended an unstable third quarter. The S&P 500 went higher and ended with 0.5% more at 2,976.70 while the Dow Jones Industrial Average rose more than 96 points and finished at 26,916.82. Nasdaq Composite advanced 0.8% to 7,999.33. The Technology sector was one of the most solid sectors in the S&P 500, rising more than 1%. Apple shares climbed 2.4% and reached its price-target while also supported by an analyst viewpoint at J.P. Morgan.
Gold down to its 14-day low
On Tuesday Gold dropped to a near 14-day low, pulled down by a more powerful greenback. Gold’s decline came while optimism of development in the US-China trade discussions boosted equity markets in an additional blow gold.
US gold futures fell 0.1% to $1,471.79 per ounce.
Spot gold dropped 0.4% to $1,465.79 per ounce, following a decline to its weakest level since Aug. 6 at $1,462.43.
Dollar index reached its 2-year top
On Tuesday the popular Greenback surged to its most powerful level in more than two years against a measure of rival currencies. The surge came before the numbers that are forecast to give the US manufacturing sector a boost. That boost will probably calm the anxiety regarding the consequences of the trade conflict with China. The dollar index versus a basket of six important currencies increased by 0.10% to 99.478, after quickly reaching the most powerful level since 2017.