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Market Recap – Kick the can down the road

Monday, October 21, 2019 10:43 AM GMT

The UK Parliament did not inject momentum into the ratification process. Instead they voted for an extra delay, forcing Boris Johnson to ask for an extension until January 31 2020. Either way, there were many details at the Boris Johnson deal that needed to be finalized with the EU. Given the latest developments, and the balance of power in the current UK parliament, a referendum scenario with the question to leave under the agreed terms or stay in the EU, becomes likely.

Today’s Canadian general elections are likely result in a narrow win of Justin Trudeau’s Liberals that will not be enough to secure them the parliamentary majority.

The week ahead includes the earnings of Procter& Gamble, Lockheed Martin, and Harley Davidson on Tuesday, Boeing and Ford on Wednesday, Amazon on Thursday. On Thursday, the ECB and the Norges Bank are having their monetary meeting.

Macro releases: No market moving announcements expected today. Full economic calendar can be found here.

Disclaimer

The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

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