Reserve Bank of India Gov. Urjit Patel unexpectedly resigns on Monday, leading investors to worry about who could replace him and what that could mean for the central bank’s independence.
Brexit watchers got a surprise on Monday, as the government reportedly pulls a highly anticipated vote on the deal Prime Minister Theresa May’s Brexit deal with the European Union. While May reportedly seeks to reschedule the vote, investors ask, “what now?”
Currency markets were shaken by more Brexit drama on Monday, as Tuesday’s highly anticipated vote on Prime Minister Theresa May’s Brexit deal is now reportedly shelved.
Bitcoin prices rallied as much as 10% over the weekend, giving virtual currency owners some respite after another tumultuous week.
Moody's de Mexico S.A. de C.V. ("Moody's") affirmed the Municipality of Tuxpan's issuer rating of B2 (Global Scale, local currency) and changed the outlook to positive from stable. At the same time Moody's upgraded to Ba1.mx from Ba2.mx the Mexican National Scale issuer rating of the municipality. Moody's de Mexico also affirmed the debt ratings of the municipality's MXN 220 million loan (original face value) with Banorte-Interacciones at Ba3/A3.mx (Global Scale, local currency/Mexico National Scale).
U.K. Prime Minister Theresa May confirmed the parliamentary vote on the Brexit deal she agreed with the European Union would be delayed during a speech in the British House of Commons on Monday. The primer minister further said there was "no deal available that doesn't include the backstop," referencing the agreed solution to dealing with the border between Northern Ireland and the Republic of Ireland. Members of parliament critical of May's deal have said the backstop could become permanent and thus infringe upon the U.K.'s sovereignty. May added that she would do anything she could to get further assurances on the backstop from the EU. The British pound extended its sharp losses following May's speech, touching a fresh 20-month low. Sterling last bought $1.2531, down 1.6%, according to Factset. The euro was up 1.6% versus the pound, buying £0.9086.
Investing.com - Gold prices fell on Monday, turning lower after reaching their best level in five months on the back of expectations that the Federal Reserve will need to slow its pace of rate hikes next year.
Matt Trudeau, who has overseen some 10 global market launches, has joined crypto trading firm ErisX as chief strategy officer.
Investing.com - The pound sank on Monday following reports that British Prime Minister Theresa May would cancel Tuesday’s planned vote on whether to approve her Brexit withdrawal deal in order to avoid a defeat that could potentially bring down her government.
Chinese officials summoned the U.S. ambassador to Beijing on Sunday to protest the arrest of chief financial officer of Chinese electronics giant Huawei, Meng Wanzhou in Canada. U.S. officials are investigating her role in the companies operations in Iran.
The turnaround in U.S. stock futures set in motion a number of events that helped drive the USD/JPY up from its lows, while putting it in a positon to turn higher for the session. Therefore, the stock market is likely to be the main influence on the Dollar/Yen on Monday.