Risk On! News helping Sentiment
Tory rebels defy Boris Johnson in historic vote– Boris Johnson tonight lost control of Brexit after MPs paved the way to force an extension to the October 31 deadline. The prime minister also faced being unable to deliver his threat of calling a snap election after suffering a humiliating defeat in his first Commons vote….The vote means that legislation forcing Mr Johnson to secure another Brexit delay is likely to pass tomorrow as opposition parties and Tory rebels combine to stop a no-deal exit on October 31.https://www.thetimes.co.uk/edition/news/tory-rebels-defy-boris-johnson-in-historic-vote-hbnhhpzh7 GBP +1%,Gilts -126 ticks a drop of .9%
Stocks in the Asia-Pacific region rose on Wednesday, after latest services PMI data for China came in at its highest level in three months. Also, reports from the South China Morning Post that Hong Kong’s leader Lam would announce a formal withdrawal of the extradition bill lifted investors’ mood. The Shanghai Composite went up 25 points, or 0.8% to 2955; the Nikkei 225 increased 24 points, or 0.1% to 206649; the Hang Seng jumped 995 points, or 3.9% to 26523; and the Kospi advanced 23 points, or 1.2% to 1989(Trading economics)
News from Twitter “CHINA’S CABINET: WILL IMPLEMENT BROAD RRR( reserve requirement ) CUT AND TARGETED RRR CUT IN TIME – STATE MEDIA” Zero hedge commenting about Trump will not be a fan of this
More positive news regarding Italian politics lifting the Mib +1.67% the European leader Dax and Cac both higher by 1%, Spoos and Nasdaq ~+1% Crude +1.75% and Copper +1.5% Gold -.6% but silver playing both side of the game today it is a base metal and higher on the risk on sentiment +.7%
Economic Calendar:
- 7:30 trade balance
- 9:00 bank of Canada Rate decision
Fed speak
- Ultra-dove Bullard said yesterday in an Interview Fed should Cut 50 bps at upcoming meeting
- Slightly hawkish Boston Fed president Rosengren said no need for immediate policy reaction
5 Fed bank presidents will speak today 8:25 Williams will be highlight of the day
