Today’s attention on the Brexit bill deliberation as well! ~ Highlights and schedule for December 10 ~

The pound is trending weaker with an opening gap. In Parliament, the likelihood of the Brexit bill passing continues to decline as days go by. Today as well, the pound is expected to swing wildly on comments and headlines regarding the Brexit bill discussion.

◎ Today's Points of Attention

1)Brexit bill debate and vote in the UK

The Brexit bill debate has been proving difficult. At present, a rejection seems highly likely. Some are premised on a rejection and are watching how far a approval vote can be extended. It remains to be seen how much Prime Minister May can push forward... While I was writing this article, media reports suggested Prime Minister May (British papers) might announce the postponement of the Brexit plan vote scheduled for the 11th. Could it be a postponement!? All eyes are on whether the vote will take place.

The pound's fate may hinge on this week!! An emergency video has been prepared.

2)Risk-off market

There are many risk factors including US-China relations, the Italian budget, and the UK Brexit bill discussion. At the White House, personnel issues have resurfaced. Stock prices are again under pressure, with limited upside. Long-term yields in Japan and Germany are falling. In the currency market, the yen and Swiss franc are being bought and commodity currencies are being sold. Although an OPEC production cut was agreed last weekend, WTI crude initially rose on the announcement but soon fell again. Today too, keep an eye on risk-related indices such as stock prices, oil prices, and interest rates.

3)Fifty-day factor

Today is the first business day of the week and it's the fifty-day (moving average) period. Market opens, closes, the call rate, and movements around the London FIX should be watched closely.

◎ Today's Economic Calendar

Monday the 10th

06:30 AUD Reserve Bank of Australia Assistant Governor speech
06:45 NZD New Zealand Manufacturing Sales
09:30 AUD Australia Home Loans
15:45 CHF Swiss Unemployment Rate
16:00 NOK Norway CPI
16:00 TRYTurkey GDP
16:00 EUR Germany Trade Balance
17:00 CZK Czech CPI
18:30 GBPUK GDP・Industrial Production Index・Trade Balance
22:15 CAD Canada Housing Starts
22:30 CAD Canada Building Permits

Tuesday the 11th

09:30 AUD Housing Price Index and NAB Business Confidence

In the UK Parliament, the Brexit agreement vote

◎ Weekly Schedule

Will the UK exit or not!? ～ Key data and events for the week starting December 10 ～