Brexit Developments Becoming Intriguing, Pound Reverses on Northern Irish News

U.K politics were thrown into turmoil as Northern Ireland politicians said they will not agree to the Brexit deal unless they get concessions. Global equities have been mixed. The U.S and U.K will see Services PMI data today.

Wall Street Deals Complicated Results, Traders Prove Cautious

Wall Street was able to gain early on Monday but then saw pressure develop. Even as President Trump gets ready to sign his tax reform package, investors did show they are rather cautious at these heights for the major Indexes. While the Dow Jones Industrials did manage to gain, the S&P stayed in neutral and the NASDAQ lost a large amount of ground. A Non-Manufacturing PMI reading will be seen in the U.S today.

Pound Reverses on Northern Irish News, Prime Minister May in Spotlight

While the E.U and U.K were able to say they are closing in on a preliminary Brexit compromise, Northern Ireland politicians have made it known they will not agree to the deal unless they receive concessions. The Pound which had tested important resistance yesterday promptly began to lose value. Services PMI data will come from the U.K today, but most investors will continue to monitor Prime Minister Theresa May as she deals with Brexit political storms.

Services Data Improves in China, Japanese Inflation Hits Target

The Caixin Services Purchasing Managers Index for China came in better than expected today as a result of 51.9. Japan’s Core Consumer Price Index data met expectations also today. However, Asian equity markets have proven cautious as they mirror their counterparts on Wall Street. The Yen has been stronger in early trading.

Support Holding in the Short Term, Gold Consolidation as Equities Mixed

Gold continues to see consolidation as it trades near 1275.00 U.S Dollars an ounce as global equity markets continue to see mixed results. Support levels remain in sight for the precious metal but appear to be held in the short term.

Services Data from States and U.K Coming, Crude Oil Inventories Tomorrow

A Non-Manufacturing Purchasing Managers Index reading will come from the States at 15:00 GMT and get plenty of looks from investors.

• 9:30 AM GMT U.K., Services PMI
• 15:00 PM GMT U.S., ISM Non-Manufacturing PMI

Yaron Mazor is a senior analyst at SuperTraderTV.

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