Forex Today: Markets on pause
|Here is what you need to know Friday, November 29th:
- Trading was dull across the FX board amid a holiday in the US and the lack of fresh clues about the political issues that dominate markets.
- The Sterling was the best performer, rallying against the greenback following the release of the YouGov MRP poll, which projects that Tories would get an advantage 68 seats in the upcoming December election. The same survey shows that Labours are on track for 211 seats. However, Conservative’s advantage has been shrinking these last couple of weeks, and if the trend continues, it could lead to a hung Parliament.
- US President Trump signed the Hong Kong human rights act, supporting the protest movement and angering Beijing. Trade talks continue, although speculative interest adopted a cautious stance.
- Speculations that the OPEC+ could extend the ongoing output cut agreement further into 2020, although nothing has been confirmed, kept oil underpinned.
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