Place your bets, nothing is going according to plan!
Caution is the watchword this morning, as investors’ attention remains focused on the situation in Europe. The most recent polling shows a tightening in the referendum vote in the United Kingdom and according to investment legend George Soros, Brexit could trigger a “Black Friday” on markets with a collapse in the GBP and a return to recession for the British economy.
Our clients should take advantage of this volatility to place orders with their trader. A Leave vote would be highly favourable for the U.S. dollar and the bond market, while a Remain vote would favour the pound sterling, the euro, the Canadian dollar, commodities and stock markets! T
oday, we’ll also be keeping an eye on Fed Chair Janet Yellen, who will be fielding questions from the Senate Banking Committee at 10 a.m., and Fed Governor Jerome Powell, who will be speaking later on this afternoon. No major economic indicators are on the agenda today.
