Forex Today: Currencies still waiting for a catalyst, gold eases
|Here is what you need to know on Friday, November 20:
Choppy price action continued across the FX board. Rising coronavirus contagions alongside restrictive measures on one hand and vaccine hopes on the other left majors confined to familiar levels.
The US reported over 170Knew covid contagions this Wednesday, as the death toll surpassed 250,000. Hospitalizations reached fresh records, with 79,410 people hospitalized because of the disease in the last 24 hours. New York City Mayor Bill de Blasio closed the district schools for at least two weeks.
Reports on the Oxford/AstraZeneca Covid-19 vaccine showed that it produced strong immune responses in an early study. Phase three results will be published in the next weeks. Investors, however, continue to focus on a possible economic downturn in Q4.
At the beginning of the day market talks hinted that some EU leaders are pushing the European Commission to publish Brexit no-deal plans. Sources suggested that a deal must be clinched this weekend at the latest. Later in the day, news indicated that EU’s chief negotiator Michel Barnier canceled next week´s briefings to EU leaders, somehow suggesting that a trade deal may be closer.
Gold edged lower, falling to a daily low of 1,864.89 to finish the day around $1,865 a troy ounce.
European indexes closed in the red, but Wall Street managed to post some modest gains ahead of the close. The NASDAQ outperformed.
Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Chainlink – American Wrap 19 November
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