Another day, another twist in the ongoing Brexit drama.

The EURUSD increased in value overnight, thanks to a weakening USD. The pair opened at $1.12030 and dipped to an opening-hour low of $1.11989. The euro took off after that, climbing throughout early and mid-session trading, peaking at $1.12540. It came off those highs in the back end of the trading session, but it still trading strongly, currently sitting at $1.12397. The GBPUSD continues to impress, shrugging off the political instability plaguing the country. The pair opened at $1.31311 and dipped to a low of $1.31191 in the first hour of trade. The pound then climbed throughout early trading, hitting highs of $1.31950 mid-session. It declined after that peak, but seems entrenched in the $1.31 range, currently trading at $1.31746.

The Dow piled on more points as hopes were raised that a trade deal will be struck between the US and China. The index opened at 26,143.72 and fell to lows of 26,126.85 early in the day. The Dow then surged through a large chunk of the session, hitting highs of 26,297.20 late in the day. It came off those highs, falling briefly to near-lows of 26,135.08 before rebounding and erasing most of those losses. It has opened higher this morning and is currently trading at 26,261.00. The only way is up for the Dax at the moment as it continues its remarkable run. The German index opened 11,849.34 and dipped to a low of 11,839.52 shortly after the open. It then spent the majority of the session adding value, as it topped 11,983.00 late in the day. It came off those highs slightly and closed at 11,958.37.

The day ahead is a relatively quiet one for a Thursday, but there is plenty of activity away from economic data that could move markets. The US & China trade talks continue, with prospects of a positive outcome increasing. The other significant geopolitical event that continues to throw up surprises is Brexit. UK PM Theresa May has recently sounded out the opposition leader Jeremy Corbyn for talks on a possible compromise deal. This has earned May the ire of many in her own party as Corbyn wishes the UK to remain in the EU and wants another general election. However, with UK lawmakers unable to agree on anything Brexit-related, desperate times call for desperate measures.

Data released today includes:

Canada – Ivey PMI

UK – Housing Equity Withdrawal

US – Challenger Job Cuts, Unemployment Claims

Europe – German Factory Orders, ECB Monetary Policy Meeting Accounts

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