United Kingdom PM lost the opportunity to hold snap elections again
Yesterday the U.K. Prime Minister Boris Johnson failed to secure an opportunity to carry out a snap election. This fact now is creating more pressure on the PM and probably he will have to request from the EU for an extension to the popular Brexit deadline.
Boris Johnson got supported from only 293 out of 650 legislators in the lower house of parliament for the election proposal. This vote was the second in a week that legislators rejected regarding an early election. Now the parliament has been postponed for five weeks and lawmakers will come back on October 14.
Following the completion of the voting and after the result, Johnson Addressed the parliament and said: “This government will not delay Brexit any further.” He vowed that the government will “press on with negotiating a deal while preparing to leave without one.”
“I will go to that crucial summit on October the 17th and no matter how many devices this parliament invents to tie my hands, I will strive to get an agreement in the national interest,” Johnson continued.
Drops in CHF and JPY confirms safe haven’s low demand
On Thursday the two popular safe-haven currencies CHF and JPY dropped to almost a month lows while traders appetite shifted for more riskier assets, encouraged by a summary of German incentive policies, decreasing the possibilities of a no-deal Brexit and expectations that a trade war resolution will be achieved soon. That fact drove the JPY down to 107.48 per dollar, and the CHF to $0.9921.Both currencies also weakened versus the euro.
Oil hit an almost 2-month top
On Tuesday, Oil futures scored a six-week top. That confirms five-days of confidence that OPEC and other nations may consent to increase production cuts in an effort to support prices. U.S. crude went up 27 cents to $58.10 a barrel while Brent gained 26 cents, reaching $62.84 a barrel.
U.S. oil gained more than 2%. Yesterday Brent ended the day with profits around 1.7%.
Gold falls to 14-day low as investors look for riskier assets
On Monday the popular yellow metal Gold briefly dropped to a 14-day low, breaking under the important $1,500 support level. The drop came while fresh risk appetite diminished the support for the popular safe-haven metal. U.S. gold futures dropped 0.3% to $1,510.69 while Spot gold dropped 0.3% to $1,502.46 per ounce. Gold reached $1,497.29, its lowest since last month.