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.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
