Yahoo Finance UK Parliament Puts Brexit on Pause and the Pound in Limbo…
Earlier in the Day:
It was another quiet day on the economic calendar through the Asian session this morning.
The Kiwi Dollar was in action early in the session, with September trade data providing direction.
For the Kiwi Dollar
According to NZ Stats, New Zealand’s monthly goods trade deficit narrowed from NZ$1,628m to NZ$1,242m in September.
Goods exports increased by 5.1% (NZ$216m) to NZ$4.5bn.
Milk powder led the rise, surging by 51% in value (NZ$160m).
Exports to China rose by 23% (NZ$227m) to NZ$1.2bn, with exports to the U.S rising by 6.3% (NZ$22m) to NZ$364m.
Exports to Australia, the EU and Japan fell in September.
Goods imports fell by 2.1% (NZ$122m) to $5.7bn.
Petroleum and products fell by 34% (NZ$252m) to NZ$492m in September.
Aircraft and parts fell by 48% (NZ$155m) to NZ$170m.
Year-on-year, the trade deficit narrowed from NZ$5,550m to NZ$5,210m.
The Kiwi Dollar moved from $0.64037 to $0.64042 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.28% to $0.6387.
Elsewhere
At the time of writing, the Japanese Yen was up by 0.18% to ¥108.30 against the U.S Dollar, while the Aussie Dollar was down by 0.28% to $0.6836.
The Day Ahead:
For the EUR
It’s another quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone to provide the EUR with direction.
The lack of stats continues to leave the EUR exposed to Brexit chatter throughout the day.
At the time of writing, the EUR was down by 0.04% to $1.1120.
For the Pound
It’s also a quiet day ahead on the data front. There are no material stats due out of the UK to provide the Pound with direction.
A lack of stats leaves the Pound in the hands of the UK Parliament through the latter part of the day. The Pound continued to suffer in the early hours as Brexit hit pause. On Tuesday, MPs voted down the British PM’s schedule to deliver Brexit by Halloween. The good news for the Pound, however, was a Parliamentary vote in favor of Boris Johnson’s Withdrawal Agreement Bill, his first Parliamentary victory since taking office.
The loss of control over the timetable, however, could lead to continued debates on the Agreement Bill that may end up being voted down in the weeks ahead…
At the time of writing, the Pound was down by 0.18% to $1.2849, with Brexit limbo weighing.
Across the Pond
It’s a quiet day ahead on the economic calendar, with no material stats due out of the U.S to provide the Dollar with direction.
The lack of stats leaves geopolitics to provide direction throughout the day. Earnings will also influence risk sentiment and demand for the Greenback.
The Dollar Spot Index was up 0.04% to 97.564 at the time of writing.
For the Loonie
It’s also a quiet day on the economic calendar. Economic data is limited to August wholesale sales figures.
Barring particularly dire numbers, the stats will likely have a muted impact on the Loonie.
The weekly EIA inventory numbers due out later today will likely garner the greatest interest.
The Loonie was down by 0.10% at C$1.3108, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
