EncoreFX’s daily market updates are written by our experienced and professional dealing team.
AUDUSD was capped overnight near 0.7130 for the 6th day in a row (cue handclap).
Oil prices hit 5-month high
Oil prices struck a 5-month high overnight as a consequence of the escalation of unrest in Libya, along with US sanctions against Iran and Venezuela and have markets concerned of a supply shortage. Crude oil was up 2% and provided a lift for commodity currencies. Stoking further tension will be the news that Iran has just announced the launching of direct flights to Venezuela!
May Considers Offering Lawmakers A Vote on Second Brexit Referendum
The Telegraph reported that UK PM Theresa May is considering giving MPs a vote on a second Brexit referendum in an attempt to break the deadlock in talks with the opposition Labour Party. May is desperate to find a compromise deal that she can present to the EU ahead of a crisis EU summit held on Wednesday where she plans to try to delay the 12th April deadline.
Today, locally Feb housing data is due… keep an eye on AUDJPY for sentiment direction…
AUDJPY grinding higher – Reuters
© Copyright - EncoreFX, 2018.EncoreFX (Australia) Pty Ltd ABN 42 607 244 879 AFSL 479 870 is the issuer of the financial products in Australia. The information on this website has been prepared without taking into account your objectives, financial situation or needs and so before acquiring any financial services or products from EncoreFX, you should consider the appropriateness of the information having regard to your own objectives, financial situation or needs. You should obtain the product disclosure statement (PDS) for the relevant product and consider the PDS before making any decision to acquire the product. The information on this website is not directed at residents of any country other than Australia and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. It is the responsibility of visitors to this website to ascertain the terms of, and comply with, any local law or regulation to which they are subject.