Archives of “September 5, 2019” day

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China Daily say’s HK’s Lam withdrawal of extradition bill leaves no excuse for further violence

  
  Analysis
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State-run China Daily says Lam has offered “a sincere and earnest response to the voice of the community … (that) could be interpreted as an olive branch extended to those who have opposed the bill over the past few months”.

  • “protesters now have no excuse to continue violence”
Comes via Reuters 
State-run China Daily says Lam has offered "a sincere and earnest response to the voice of the community ... (that) could be interpreted as an olive branch extended to those who have opposed the bill over the past few months".

A couple of Brexit scenarios to ponder (and what they mean for EUR/GBP)

  
Analysis, Forex
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An overnight bank note (Rabo) on Brexit and euro / sterling

(in brief, and note this prior to Wednesday’s UK voting)
If legislation to rule out a no deal Brexit is rushed through parliament, the pound can be expected to rise. If it were decided that the Brexit deadline were to be extended but that the legal default position of the UK remains that a no deal Brexit could still take place at a future date, GBP may also rise, but by a lesser amount – since kicking the can down the road is not a solution.
  • In this scenario we would expect EUR/GBP to be trading in the 0.90 area on a 1 to 3 month horizon.
If a no deal Brexit is ruled out will would expect EUR/GBP to clamber back towards the 0.86 area in 3 months. 
If fresh legislation is not passed and the UK remains on course for a no deal Brexit in October we would expect EUR/GBP to rise firstly back towards the recent high in the 0.9325 area. 
How high EUR/GBP can go may then depend on whether the EU summit in mid-October brings any compromises.” “On a no deal Brexit on October 31, we expect EUR/GBP to rise towards parity.

US stocks close near session highs for the day

  
Analysis, US Market
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Nasdaq up 1.30%.  S&P up 1.08%

The US stocks are closing not far off the highs for the day, with the Nasdaq leading the way higher. Ever sector in the S&P was higher.  Dow closes higher for the 4th time in 5 sesssions.
The final numbers are showing:
  • The S&P index closed up 31.51 points or 1.08% at 2937.78
  • The Nasdaq index closed up 102.72 points or 1.30% at 7976.87
  • The Dow index closed up 237.45 points or 0.91% at 26355.42
The % changes and ranges are outlined below. Yesterday, the indexes in US and Europe traded below the 0% line for all of the day. Today, the major indices all traded above the 0.0% line alll day.   All indices opened higher and traded higher.
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