Equities Trade Mixed And UK PM Man Assures The EU27 She Will Get Brexit Done

Published date: 20/09/2018

It was a mixed close in the indices over in the US yesterday as the Nasdaq fell 0.08% while the Dow gained 0.61%. Over in the Asia Pacific area, it was a subdued session, the Nikkei closed flat, Shanghai Comp finished 0.13% down and the ASX lost 0.33% of its value. There were two main Brexit headlines to be aware of this morning, Taoiseach stated there has been no progress in the Irish backstop and UK PM May tells the EU27 she won't delay Brexit despite a lack of a deal.

The major commodities look in good shape this morning, WTI is the outperformer this morning despite the smaller than expected draw in DoE's. Another thing to keep an eye on in oil markets is Brent-WTI also enticed the highest level of US exports since July at 2.37m bbl/day.

Gold trades marginally higher this morning still above the $1204/oz level. There is a resistance level that the yellow metal looks reluctant to attack at the $1214/0z consolidation high.

Copper has been mixed in the past two sessions despite the mammoth near 3% moved two days ago. The industrial metal now trades 0.10% higher at the $2.70/lb level stalling just before the $2.73/lb consolidation high resistance area.



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