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NZD Hits 0.6400 As Risk Appetite Improves

Published October 22, 2019

The NZD breaks through the .6400 level against the USD as risk appetite improves on signs of positive trade talks and a no-deal Brexit fading.

GBP Holds Ground Despite Brexit Vote Delay 

The pound continues to hold firm, despite House of Commons Speaker John Bercow refusing to allow an immediate vote on the Brexit withdrawal deal.  The government will now try to push on and pass the full Withdrawal Agreement Bill in a very short time-frame.  The leader of the House of Commons, Jacob Rees-Mogg said the government wanted the lower house of parliament to finish voting on the bill on Thursday, before it heads to the upper house, which also have to approve it before the Brexit deadline.

Trump Praises US-China Trade Talks

President Donald Trump has said efforts to end a US trade war with China were going great, with expectations for a deal to be signed on the first phase middle of next month.

White House economic adviser Larry Kudlow told media that 15% U.S. tariffs on many consumer goods imported from China, including cellphones, laptop and tablet computers, could be withdrawn if negotiations continue to go well.

Canada’s Election in Focus

Canadians began voting today to determine if existing Canadian Prime Minister Justin Trudeau will retain power after two major scandals. If Trudeau succeeds, he will however likely lose his parliamentary majority. This would force the Liberals to rely on a left-leaning NDP party to survive a second term. The Liberals are still in a neck-and-neck race in the popular vote with the Conservatives and the outcome will be known later today.