Skip to content Skip to footer
Sterling rallies as Brexit talks set to resume

Sterling rallies as Brexit talks set to resume – 21st October

Europe’s chief negotiator Michel Barnier agreed that more could be done to match compromises made by the UK.

The statement sent GBPUSD to an intraday high of 1.3178, which is the highest rates have quoted since September 7th.

In his speech, which he delivered to the European Parliament, Barnier stated that, “Despite the difficulties we’ve faced, an agreement is within reach if both sides are willing to work constructively, if they’re willing to compromise and if we’re able to make progress in the next few days”.

The FTSE 100 was down 1.91% due to a stronger Pound.

NASDAQ flat ahead of Tesla earnings

The NASDAQ was down 0.06% as of writing after disappointing data yesterday from Netflix. However,  Tesla is set to release its third quarter earnings report, which many hope will boost the index on tomorrow’s open.

The earnings call which will come after the closing bell, will allow investors to peak under the hood of the car maker and see if its performance will keep up with its 2020 stock market performance.

Shares in the Elon Musk company are up 430% YTD, and may be set to continue upward depending on this evening’s report.

HSBC to cut 300 commercial banking jobs  

HSBC have announced that it will be restructuring its UK commercial banking division, as a result of lower margins due to the COVID-19 outbreak.

The move comes as the bank hopes to cut costs and it is expected that close to 300 jobs will be affected. In a statement regarding the news, a spokesperson for the bank stated, “In line with the Group strategy announced in February, we continue to restructure and review the roles required to transform the bank”.

Lockdown restrictions have meant more customers have switched to online banking and rendered some physical branches obsolete.

Shares in HSBC fell 2% on the news.

Quote of the day – “The hardest thing in trading is to get it right and sit tight

Jesse Livermore

To stay up to date with the markets we encourage traders to view our Trade Gate Hub for more real time insights into Crude, Gold and many other markets.

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.

Tradeview Asia Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.

Tradeview Financial Markets S.A.C Global

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.