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On May 18, Israeli Prime Minister Benjamin Netanyahu said that the content of the negotiations between Israel and the Palestinian Islamic Resistance Movement (Hamas) in Doha included a "framework to end the war". On the 17th, the Palestinian Islamic Resistance Movement (Hamas) said that it was holding a new round of negotiations with Israel in Doha, the capital of Qatar, on a ceasefire in the Gaza Strip and the exchange of detained persons. Mahmoud Maldawi, a senior Hamas official, said on the 17th that the negotiations were held under the mediation of Qatar and the United States, and that they were open to all issues without preconditions.Russias Defense Ministry says Russian troops have taken control of the Bahatyr region of Donetsk, Ukraine.On May 18, according to a report by TASS on the 17th local time, Russian Presidents Press Secretary Peskov said on the same day that Russia would not comment on media reports about the so-called conditions put forward by Russia and Ukraine during the talks in Istanbul, nor would it disclose any details about the negotiation process. Peskov said that the negotiations "are being conducted behind closed doors" to ensure that they are fruitful.On May 18, Hong Kong SAR Government Financial Secretary Paul Chan said in his latest blog that looking around the worlds major markets, funds are gradually gathering towards leading innovation and technology companies, as well as future industries with strategic value. Paul Chan said that the flow of international funds, on the one hand, reveals investors judgment and layout of future development trends, and on the other hand, is also a thermometer of market sentiment, reflecting the markets assessment of the political and economic situation. In addition to worrying about the impact of the United States unilateral policies on the global economy and affecting future growth prospects, the market is also worried about the long-term interest rate risk caused by the US government debt. "Since the flow of funds and interest rate trends are subject to multiple internal and external factors and are subject to variables, the Hong Kong SAR government and regulatory authorities will continue to closely monitor market changes and maintain financial stability," Paul Chan said.Russian military: In the past 24 hours, a total of 45 Ukrainian drone control stations were destroyed in the special military operations zone.

Prior to UK/US PMI, GBP/USD Justifies Monday's Bearish Doji to Drop to 1.2000

Alina Haynes

Feb 21, 2023 15:18

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In the early hours of Tuesday morning, GBP/USD retests intraday lows at 1.2020 as traders celebrate the return of Western traders after a lengthy weekend owing to American holidays. In addition to the return of the entire market, the traders of the Cable pair express concern over the Brexit deal negotiations and worries regarding the trust of small industries.

 

Late on Monday, the UK Times claimed that British Ministers are willing to resign over (Prime Minister) Rishi Sunak's Brexit proposal if it undermines Northern Ireland's position inside the United Kingdom. The Times said that "the hostility of euroskeptic Tory lawmakers to the accord is rising."

 

In another article, The Times quotes a Barclay's industrial poll to show that small business owners are becoming more hopeful about the future. The same adds to evidence that the United Kingdom's economic outlook may not be as grim as feared and stated in the press.

 

Concerns of a monetary policy divergence between the Federal Reserve and the Bank of England (BoE) appear to be weighing on the GBP/USD exchange rate, as seen by the week's mixed British results and the robust American data.

 

Notwithstanding this, yields on 10-year U.S. Treasury notes are near their highest levels since early November 2022, with bids hanging around 3.86 percent.

 

Meanwhile, geopolitical concerns emanating from China and Russia appear to enhance the safe-haven demand for the US Dollar and weigh on the GBP/USD exchange rate.

 

The initial figures of the S&P Global PMIs for February will be crucial for GBP/USD traders. To stabilize prices, however, favorable news from the United Kingdom is essential, since recent US Treasury bond yield movements have favored the US Dollar ahead of the most critical US PMIs.


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