GBP/USD: gravitate downwards or keep up?
Since July, the movement of GBP/USD has been contained between 1.27 and 1.34.
Gold gains more than 1% against the US dollar
Information is not investment advice
Midday Market View
European equities gained along with US equity futures as earnings results from American tech names have changed the negative sentiment. Although there is a risk of a second wave of COVID-19 which likely will put downward pressure on rates, however, risky assets are supported by fiscal and monetary stimulus.
Amazon, Apple and Facebook are rising on pre-market after stellar quarterly results.
Treasury yields slightly lower, while the dollar is little changed against both the EUR and the Yen.
Midday Key Point
- Gold gains more than 1% against the US dollar and currently trading at 1976. Intraday it reached up to 1980 which is a new record for the precious metal.
- GDP data from Canada is due.
- Chicago PMI also out at 15:45 CET today.
Similar
GBP Gains Slightly Despite No Deal Uncertainty
UK officials are reportedly preparing to dilute PM Johnson’s Brexit legislation, in a move that could rekindle negotiations with the EU.
Sterling moves lower on political threats
EU's von der Leyen supports that EU team will go to London next week to 'intensify' negotiations
Popular
Gold’s rally may be limited
XAU/USD is edging higher, but may meet soon the strong resistance. What is the forecast?
EUR/USD skyrocketed ahead of ECB’s speech
The euro has started the week on a positive footing, surging to the key resistance of 1.1800.
GBP/USD: gravitate downwards or keep up?
Since July, the movement of GBP/USD has been contained between 1.27 and 1.34.
Choose your payment system
