Forex Today: Trump's trade pessimism pressures markets, Spain stuck again, UK GDP set to rise


Here is what you need to know on Monday, November 11:
- Trade: The market mood is somewhat downbeat amid pessimism related to trade talks. President Donald Trump has yet to make a decision on a rollback of tariffs that China has demanded. He said that reports about progress to reach a deal have been incorrect, especially the level of tariffs removal. The Japanese yen and Gold are trying to recover. 
- Fed speak: Eric Rosengren, President of the Federal Reserve branch in Boston, will speak in Oslo later in the day. He kicks off a busy week of speeches from Fed officials, culminating in Chair Jerome Powell's testimony. 
- UK elections: Weekend opinion polls have been mixed, but the broad picture is of a solid lead for Prime Minister Boris Johnson's Conservatives. The parties criticized each others' economic promises. See UK GDP Preview: GBP/USD may rise with Boris' hopes if upbeat forecasts are realized
- UK GDP: The UK publishes the first estimate of third-quarter Gross Domestic Product, which is expected to show a return to growth after contracting in the second quarter. Manufacturing Production figures for September are also published.
- Spain: Elections in the fourth-largest economy in the euro-zone have resulted in a hung parliament for the second time this year. Acting Prime Minister Pedro Sanchez has fewer options to cobble a government. The far-right Vox party has enjoyed substantial gains.
- Oil prices are off the highs as Saudi Aramco is set to begin its Initial Public Offering (IPO). Iran announced that it discovered a massive oilfield with reserves of 53 billion barrels, yet sanctions may prevent the field's development.
- Cryptocurrencies are extending their losses seen on Friday, with Bitcoin falling further away from $9,000.
- Bank holidays: France, the US, and Canada are off for Remembrance Day. 

More US recession fears retreat as markets, jobs rally

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