{"id":141796,"date":"2019-02-13T09:30:25","date_gmt":"2019-02-13T14:30:25","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=141796"},"modified":"2019-02-13T08:22:31","modified_gmt":"2019-02-13T13:22:31","slug":"carney-warns-of-economic-shock-from-no-deal","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/02\/carney-warns-of-economic-shock-from-no-deal\/","title":{"rendered":"Carney Warns Of \u201cEconomic Shock\u201d From No Deal"},"content":{"rendered":"
February 13, 2019<\/div>
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By Orbex<\/a><\/strong><\/p>\n

While on the one hand, the governor reaffirmed the risks around a no-deal Brexit, this time Carney tempered his warnings with some positive perspectives around the potential for free trade deals in the aftermath of Brexit.<\/p>\n

Commenting on the progress of Brexit negotiations, Carney said that \u201cit is in the interests of everyone, arguably everywhere\u201d to find a Brexit solution.<\/p>\n

He added that the \u201ceconomic shock\u201d from a no deal Brexit would be crippling given the current context of falling world trade and a slowing down of the\u00a0Chinese economy.<\/a><\/p>\n

\u201cHigh Levels of Uncertainty\u201d<\/strong><\/h2>\n

In terms of the\u00a0negative impact from Brexit<\/a>, Carney said that it had fuelled \u201chigh levels of uncertainty\u201d with companies \u201cholding back on making big decisions\u201d. He added:<\/p>\n

\u201cA no-deal would be an economic shock for this country, and this would send a signal globally about re-founding globalization.\u201d<\/p><\/blockquote>\n

Carney feels that sending this signal \u201cwould be unfortunate.\u201d<\/p>

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However, he also stated that Brexit could deliver some positives too saying:<\/p>\n

\u201cIt is possible that new rules of the road will be developed for a more inclusive and resilient global economy,\u201d<\/p><\/blockquote>\n

Adding that Brexit is an \u201cacid test\u201d for the future of global trade.<\/p>\n

Technical Perspective<\/strong><\/h2>\n

\"forex<\/a><\/p>\n

GBPJPY Remains within the bearish channel that has framed price action since early 2018. After piercing below the structure briefly at the start of the year, price has since traded back up into the middle of the channel and, for now, is trading between support at the 139.90 level and resistance at the 144.85 level. A break of this upper level will bring a test of the channel top into focus.<\/p>\n

By Orbex<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex While on the one hand, the governor reaffirmed the risks around a no-deal Brexit, this time Carney tempered his warnings with some positive perspectives around the potential for free trade deals in the aftermath of Brexit. Commenting on the progress of Brexit negotiations, Carney said that \u201cit is in the interests of everyone, […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-141796","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/141796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=141796"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/141796\/revisions"}],"predecessor-version":[{"id":141799,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/141796\/revisions\/141799"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=141796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=141796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=141796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}