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Theresa May suffered a landslide Brexit defeat. Opposition leader Jeremy Corbyn tabled a vote of no confidence tomorrow. The pound rebounded from initial losses as traders are seeing the defeat as paving the way for an extension to Article 50 rather than the start of a no deal Brexit.

One of the first things that new traders to the FX markets learn is that many currencies are correlated with other markets. For instance, the close relationship between oil and the Canadian dollar or certain metals and the Australian dollar are intuitive given the importance of exporting those commodities for the Canadian and Australian economies.

There are two major currencies heavily underperforming the rest of G10 today. Any guesses, which two?

Traders’ risk appetites are actually holding up relatively well today, despite abysmal trade Chinese trade figures overnight (exports -4.4%, imports -7.6%), the likelihood of a failed vote on UK PM May’s Brexit deal tomorrow, an inauspicious start to Q4 earnings season, and the ongoing US government shutdown.

The much-anticipated delayed Commons vote is about 24 hours away now. Ahead of the vote, UK Prime Minister Theresa May has made a last-ditch attempt to persuade MPs to save her version of Brexit with a (dare I say, meaningless) speech in Stock-on-Trent earlier today

We’ve already written extensively about the high stakes for Tuesday’s vote on Theresa May’s Brexit bill (see here, here, and here for more), but with EUR/GBP clocking in as the weakest currency pair on the day, we also wanted to highlight key levels to watch on the second most-traded pound cross.

As we approach the end of the week, gold is trading slightly off its best levels thanks in part to a rebound for the US dollar and the recent recovery in stock prices reducing the appeal of the safe-haven commodity.

Next week’s major market risk event is most likely to be the UK parliament’s so-called “meaningful vote” on the withdrawal agreement Prime Minister Theresa May negotiated with the European Union at the back end of last year.

Crude oil has staged a vicious kick-back rally since the turn of the year, now on its eighth consecutive day. But now WTI has reached a critical technical area around $52.50-52.80 and what it does here could determine the direction of prices over the next several days.

The debate over Theresa May’s Brexit deal is careening toward a dramatic conclusion ahead of the scheduled Parliamentary vote on Tuesday.

Equity markets have wobbled a little after initially extending their gains in reaction to the dovish FOMC meeting minutes last night. Stock markets participants have been left a bit disappointed with the lack of a clear breakthrough in trade talks between the US and China, after a three-day meeting merely laid the foundation for a potential deal in ...

The minutes from each Federal Reserve meeting are released three weeks after the meeting itself, meaning that they’re generally stale under the best of circumstances...