Here is what you need to know on Wednesday, December 18:
The US dollar has emerged the outright winner across its main peers so far this Wednesday, as revived no-deal Brexit fears continued to hurt the sterling while persistent concerns over the lack of details in the US-China trade deal weighed on the higher-yielding Antipodeans.
Meanwhile, the sentiment around safe-havens such as the Japanese yen and gold remained underpinned amid cautious market mood, as the Asian equities were a mixed mag and Treasury yields reported minor losses. S&P 500 futures flipped to the negative territory heading into Europe.
Across the G10 fx space, GBP/USD was the main laggard and breached the 1.31 handle after seeing the worst daily decline in over a year on Tuesday. EUR/USD failed repeated attempts to sustain above the 200-day SMA and kept its range trade intact above 1.1100.
USD/JPY eased slightly below 109.50, in light of a potential Japan-Russia geopolitical conflict. Russia seized 5 Japanese fishing vessels on Dec, 17th. Meanwhile, the Antipodeans ignored China’s intent to ease monetary policy conditions, as dovish RBA expectations pressured the Aussie. The Kiwi saw some profit-taking slide ahead of New Zealand’s Q3 GDP report.
Gold hovered below $ 1480, Crude oil corrected from three-month highs following an unexpected climb in the weekly US Crude Stocks.
Cryptocurrencies paused the sell-off, with Bitcoin attempting a tepid bounce on $ 6,600.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.