Forex Today: Dollar depressed amid trade skepticism, Bitcoin battered, Johnson-Corbyn debate eyed

Here is what you need to know on Tuesday, November 19:

  • Trade: Contradicting reports about US-Sino trade talks keeps investors nervous. While the administration has extended Huawei's license to do business with American companies, reporters in Beijing are suggesting that officials are skeptical about reaching a broad trade deal soon. The US dollar remains on the back foot while Gold is consolidating its gains. 
  • UK Elections: Prime Minister Boris Johnson and Labour leader Jeremy Corbyn will confront each other in a televised debate later today, as opinion polls continue showing a double-digit lead for the Conservatives. Both men disappointed businesses on Monday with their speeches to the Confederation of British Industry. GBP/USD is holding its ground closer to 1.30. 
  • Brexit: Markets are also worried about what happens when the transition period expires at the end of 2020. The EU's Sabine Weyand reportedly sees only a "bare-bones" trade deal or a hard exit on WTO terms.
  • Fed: Eric Rosengren, President of the Boston branch of the Federal Reserve, has expressed concern about cutting interest rates too much, thus exhausting valuable tools that would be missing in a recession. Rosengren's boss Jerome Powell, Chairman of the Federal Reserve, was summoned to the White House early on Monday. While President Donald Trump said the meeting was "cordial," he also protested against the Fed's policies. Trump would like to see lower rates. John Williams of the New York Fed will speak later today.
  • AUD/USD is on the back foot after the meeting minutes from the Reserve Bank of Australia have shown some concern about the global slowdown and readiness to cut interest rates once again.
  • Cryptocurrencies have been extending their falls, with Bitcoin trading around $8,100.

More Trump Impeachment: Markets will not like any replacement

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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD falls below 1.1850 as US consumer sentiment beats

EUR/USD is trading under1.1850, off the previous levels as US consumer sentiment beat estimates with 78.9 points. The Fed refrained from adding more stimulus, supporting the dollar earlier in the week. Investors are eyeing fiscal stimulus talks.


GBP/USD falls as the EU reportedly objects Johnson's bill

GBP/USD is trading around 1.2950, off the highs. According to reports, the EU remains opposed to UK PM Johnson's controversial bill, which violates the Brexit accord. 


XAU/USD struggles to move back above 100-hour SMA

Gold regained some positive traction on the last trading day of the week and recovered a part of the previous day's losses to over one-week lows. The commodity held on to its intraday gains and traded above the $1950 level through the mid-European session.

Gold News

Ethereum hits Bitcoin's bid to lead the market

Bitcoin risks dominance after the strong rise of Ethereum. Technical indicators show some significant discrepancies keeping the stress on the board. Sentiment levels are improving and bordering on optimism.

Read more

After yesterday's JMMC meeting WTI settles near $40 per barrel

WTI has been through a rollercoaster this week. The liquid gold has been in a downtrend leading into the OPEC+ JMMC meeting and then reversed the whole move. At the meeting the group agreed to extend the compensation period for overproduction till the end of December. 

Oil News