Shifting trend in the United Kingdom!
The death of British MP Jo Cox may prove to be a determining point in the United Kingdom’s Brexit referendum campaign. The most recent surveys published Sunday show a significant shift in trend with the Remain camp now up by 3%. This news was well received by investors, and stock exchanges, crude oil, the pound sterling and the Canadian dollar are all up sharply.
The main European stock exchanges have gained more than 3% while the futures market is pointing to a positive day in North America as well. Since last Thursday’s polling, the pound sterling and CAD have respectively gained 4.5% and 2.2%. It appears that surveys in the coming days will dictate where the loonie is headed over the week. A potential vote in favour of Brexit could push the USD/CAD pair above 1.3000 while the status quo could bring the pair down below 1.2600. No significant economic news is scheduled for today.
