Starting with the pound lower window open! ~Key points and schedule for November 12~
◎ Today's Highlights
1)Brexit negotiations and the May administration
Last week, when I explained the Brexit proposal to UK MPs, it was met with opposition and rejection. Yesterday, rumors circulated that Prime Minister May would resign. Concern over these rumors caused the pound to open with a wide gap. Focus on the movements of the pound and the May administration.
GBP/USD Hourly Chart
2)Dollar/Yen and the Dollar Index
As the week begins, the Dollar Index is starting higher. Watch whether USD/JPY can rise to the 114 handle.
↓↓↓ The Dollar Index summary is below ↓↓↓
Pay attention to the “Dollar Index”! Can USD/JPY break above the 114 ceiling?
3)Italy's Budget
The European Commission rejected Italy’s budget proposal and requested revisions. Italy is opposed to the revisions. The revision deadline is tomorrow the 13th, and I will be watching the responses from Italy and Europe.
Additionally, after the request for budget revisions, projections for GDP emerged. There are differing views between Italy and Europe on this as well. On the budget, Italian government bond yields rose and the euro fell.
What to watch are the 4% level in the Italy-Germany long-term yield spread and the euro-dollar “1.1300” threshold. I will focus on these two points.
◎ Today’s Events Schedule
11/12 (Monday)
18:00 EUR Deginto ECB Vice President Lael Brainard
11/13 (Tuesday)
Italy Budget Revision Deadline
04:30 USD Daily San Francisco Fed President Speaking
09:30 AUD NAB Business Confidence Index
◎ Weekly Schedule
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