Commerzbank analysts have stated that the EUR/GBP rate is 0.8719. “It continues to probe the 0.8852 January high, and will need to close above here to confirm further upside potential to 0.8987/.9059, the 61.8% retracement and the highs from mid October. Technically we have little to suggest that the market will sustain a move above this high, which is reinforced by the 0.8858 50% retracement of the move down from the 0.9403 spike high, but the market will stay bid above the .8707 short term uptrend.”
U.S. STOCKS MARKET
The end of Monday for U.S. stocks resulted highly profitable for the ones invested in technologies, as the market closed at Amazon reaching its records high share rate. Amazon shares hit the high of $1,017 which may become a move forward for Amazon to acquire Wholefoods for $13.7 billion.
The NY Fed President William Dudle`s statement about how dangerous for the economy could be halting interest rate increases, influenced the JPMorgan shares being closed at 2.2% higher.
President Donald Trump`s meeting with several tech CEOs, including Amazon’s Jeff Bezos and Apple’s Tim Cook several hours before the market closure impacted greatly on the U.S. stock market outcome.The Dow Jones Industrial Average closed at 21,528.99. The S&P 500 at 0.83% while the Nasdaq Composite went up to 6239.01, 1.42% higher.
BRITAIN, EU LAUNCH BREXIT TALKS
The negotiations about the exit of Britain from the bloc are about to take place in Brussels, and thus starting the departure process which has March 2019 as a due date. Britain’s Brexit minister David Davis and the European Union’s chief negotiator Michel Barnier will take part.
The “divorce” discussion came not long as two weeks after Theresa May and her Conservative Party lost their overall majority in parliament. Struggling for her survival in the politics, May has tried to make a deal with a small Northern Irish Protestant party- the Democratic Unionist Party.
The GBP rate was 0.2% up against the US dollar and was at 1.2806 in New York morning trade.