21.02 seems to be quite stable for the traders as no signifanct changes are ongoing right now on the markets. But there is still a lot of useful information inside the article.
Brexit is splitting people even inside UK.
Just at the end of last week, Theresa May’s office said that the Prime Minister is finally ready to issue her official view of English life after Brexit. But today there is a bulletin, that says that this view of May’s doesn’t fit everyone.
Of course, the Prime Minister, as the head of the government should be supported no matter what, no one denies the opposition their right to have a voice in the matter. And, in this case, opposition is not happy with May’s plan to leave some ties with EU open and ready for work after the split has been finished.
According to Bloomberg, the official letter that was sent to May’s office had three points of what is supposed to happen according to them, after Brexit:
Dropping the EU’s vision of Britain’s transition phase, so the U.K. can “change British laws and rules once we leave, rather than being a ‘rule taker’ without any substantive say in whatever Brussels decides;”
Being free to start trade negotiations immediately after Brexit;
Having a transition period, or implementation phase, that is based on the principles of the World Trade Organization, implying that the transition should be accepted only if a free-trade agreement with the EU is guaranteed.
As can be seen, the MPs demand quick divorce with the EU with no ties to the Union left.
US oil drama is taking off.
Oil prices around the globe are dipping today. The reason for the price being lost is the greenback that is getting stronger these days. Another reason is the anticipated rise in the US oil output.
WTI crude futures are down 1.2 percent, or 72 cents and are traded at the point of $61.07 per barrel today. Brent futures fell 60 cents – 64.65 USD per barrel. According to the recent moves of Brent, specialists say that Brent futures can easily fall to 63.92 USD per barrel.
The dollar index that measures greenback against the basket of six major currencies is rising since the trading week opened, and other assets don’t react well to the strong dollar, as market proves.
And as the output of the US crude can rise with all the plans of American government, the oil prices are. Possibly, going to dip even lower.
Banking crisis in Latvia may be an indicator of a bigger problem.
Knot a lot of people know that a small European country of Latvia is experiencind banking crisis right now. But now, this seemingly unnoticed crisis has the potential to turn into a real international scandal.
“There is a high probability that an externally organized widespread information operation is being carried out that, by its structure and execution, is identical to those observed in pre-election periods in the U.S., France and Germany,” Latvia’s Defense Ministry stated in an emailed statement on yesterday.
As always, the fingers are being pointed at Russia. Latvian officials didn’t exactly issue the official statement about Russia’s role in the problem, but they sat that the recently published photo of the central bank Governor Ilmars Rimsevics, who was arrested on corruption charges recently is aimed to undermine Latvian’s image in the world. (photo was allegedly taken in Russia, when the whole world knows that Latvians and Russians don’t mix).
Stocks, currencies and crude overview.
Japan’s Topix is extending the decline today – 0.1 percent loss.
Hong Kong’s Hang Seng is looking very strong with 1.9 percent gain – very good performance.
MSCI Asia Pacific rose 0.2 percent.
Australia’s S&P/200 Index was unchanged when the markets wrapped.
Yen was at the highest positions just five days ago, but today greenback was stronger, as the gains are ongoing – 107.81 yen per dollar is the exchange rate this day.
Euro lost just a little bit if the price - $1.2318.
WTI crude fell 1 percent and erased yesterday’s gains - $61.20 per barrel.
Gold fell today to the point of $1.326.39 and silver costs 16.441 – both metals are losing.
