UK politicians have finally agreed to a Brexit deal, but incredibly it looks like the UK will remain in the EU beyond the October 31 deadline.

The EURUSD opened the day at $1.11486 and traded steady early, edging up to a high of $1.11561 a few hours after the open. Mid-session trading saw the euro slide, where it reached near-session-lows of $1.11223. It bounced off that point as it climbed to a near-session-high of $1.11536. However, it suffered a sharp drop, hitting lows of $1.11170 late in the day. It has come off those lows and is now trading at $1.11294. The GBPUSD fell sharply on the back of goings-on surrounding Brexit after beginning the day at $1.29581. The pair edged up early before falling mid-session to $1.28894. The lead up to the Brexit vote saw the pound rally to a high of $1.30000 but then sunk to lows of $1.28611. It has come off those lows and is now trading at $1.28825.

The Dow continued its stuttering start to the week after opening the day at 26,852.30. The index traded in a tight range for most of the day, where it eventually peaked at 26,957.69 late in the day. Poor earnings data sent the Dow south, falling to lows of 26,767.85 late in the day. It is struggling at the moment and is currently trading at 26,755.82. The Dax gave up some of the gains made recently, weighed down by a falling Dow. The German index began the day at 12,756.33 and shot up to a high of 12,796.02 in early trading. It remained near those levels for most of the day before selling-off late, bottoming-out at 12,691.70 and then closing at 12,700.10.

When is Brexit not Brexit? When the UK parliament gets involved. After three years of talking, votes, arguments and a change of Prime Ministers, the UK parliament finally agreed to pass Boris Johnson’s deal to leave the EU. However, Johnson is adamant that the UK should leave by October 31, leaving politicians three days to extensively review the deal. This time frame was put to a vote and it was this vote that was rejected, leaving the agreed Brexit deal in limbo. It will now likely mean that the UK will have to ask the EU for another deadline extension. This is seen by same as another delaying tactic used by a pro-EU parliament to halt the Brexit process. Johnson is still pushing to leave the EU by the end of October and has flagged the possibility of going to a general election if there is a long extension granted. The turmoil in the UK is set to continue.

Data published today includes:

Japan – BoJ Core CPI

Europe – European Consumer Confidence

Australia – Flash Manufacturing & Services PMIs

US – HPI, Crude Oil Inventories, Federal Budget Balance

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