Forex Today: Trump’s impeachment caps dollar gains, Aussie jobs boost AUD; focus on BOE, Brexit drama


Here is what you need to know on Thursday, December 19:

US dollar‘s two-day rally across its main competitors was capped after the US House of Representatives voted to impeach President Trump on two accounts. Trump’s impeachment stoked US political uncertainty and lifted the demand for safe-havens such as Gold and yen.   

Meanwhile, looming Hard Brexit and trade deal concerns continued to weigh on the market mood. Treasury yields dropped nearly 1% across the curve while Asian equities traded on the back foot alongside the US equity futures.  

Across the G10 fx space, the Aussie outperformed and rallied nearly 30-pips following upbeat Australian jobs data while NZD/USD failed to benefit from better NZ growth numbers.

Cable traded modestly flat below 1.3100 ahead of the key event risks – BOE, Queen’s speech and UK Retail Sales. UK Press reported that PM Johnson plans to slash rates for small businesses in Queen's Speech. EUR/USD consolidated in a familiar range below 200-DMA.

Gold advanced towards $ 1480 while Crude oil held the upside near three-month highs.  

Cryptocurrencies stalled recovery and turned south, with Bitcoin testing $ 7,100 again.

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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD breaks above 1.1100 amid EU hopes, US-Sino tensiosn

EUR/USD has hit a new two-month high above 1.11, amid hopes for a fiscal boost in Europe, and as growing Sino-American tensions seem to weigh on the dollar for a change. EZ inflation, US data, Trump's China speech, and end-of-month flows are in play.

EUR/USD News

GBP/USD advances amid US dollar weakness, shrugging off concerns

GBP/USD is trading above 1.23, edging higher amid US dollar weakness and Britain's gradual reopening. Intensifying Sino-American tensions and the Brexit impasse are ignored. 

GBP/USD News

Forex Today: Dollar dives, decoupling from stumbling stocks ahead of Trump's Chinese announcement

The US dollar remains on the back foot, with EUR/USD topping 1.11, despite a worsening market mood related to Sno-American relations. President Donald Trump will announce actions against China following Beijing's tightening of its grip on Hong Kong. 

Read more

Gold pokes $1,721/23 resistance area

Gold prices extend the latest recovery from $1,711 as DXY refreshes two-month low. A confluence of 10-day EMA, nine-day-old falling trend line probes immediate upside. An ascending trend line from April 21 favors the bulls.

Gold News

WTI struggles to cheer USD weakness, drops 1.40% in Asia

WTI probes gradual declines from $34.34, still eyes record monthly advances. DXY bears the burden of risk aversion wave before US President Trump’s China conference. Fears of US-China restrict the black gold’s near-term upside.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures