EUR/USD eyes stronger gains, having confirmed a bullish breakout above 1.20 on Tuesday. The dollar loses ground on hopes for a swift global economic recovery on the back of potential coronavirus vaccines. Renewed optimism over the US fiscal stimulus adds to bearish pressures around the dollar.
GBP/USD looks to extend its bullish consolidative mode above 1.3400 into European trading, having hit three-month highs at 1.3440 amid renewed Brexit optimism and broad US dollar weakness. Brexit deal, UK vaccine rollout likely this weekend.
Gold turned south in Wednesday’s Asian trading, having failed to find acceptance above the $1815 barrier. The XAU bulls take a breather, as markets pause after the overnight risk rally, offering some temporary reprieve to the US dollar.
Economists seem to have gotten used to disappointing figures from ADP's jobs report and now expect a modest increase. The calendar is pointing to an increase of 420,000 private sector positions in November.
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