Forex Today: Fireworks coming mid-week and onwards
|Here is what you need to know Tuesday, December 10th:
- Major pairs held within well-limited levels this Monday with volatility limited amid the absence of relevant macroeconomic releases, first-tier events coming later this week, and persistent tensions between the US and China.
- The US Federal Reserve is having a monetary policy meeting on Wednesday, while the ECB will unveil its latest decision on Thursday. The UK is heading into the polls also on Thursday.
- The GBP/USD pair hit 1.3180, surpassing May’s high by a couple of pips, underpinned by hopes PM Johnson will stand victorious in the upcoming election. A poll released later in the day showed an eight points’ advantage of Conservatives, leading to a small retracement in the pair.
- Germany Trade Balance came in better than expected but failed to boost the EUR. The EUR/USD pair closed the day unchanged in the 1.1065 price zone.
- The Japanese yen edged higher, helped by an upbeat Japanese Q3 GDP and a sour sentiment that helped safe-haven assets.
- Most world indexes closed in the red, although losses were limited.
- Cryptocurrencies were quite volatile. BTC/USD ended the day in the red around 7,300 after peaking at 7,650.
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