The US dollar is heading towards its largest weekly increase since October amid the risk-off market sentiment. Whereas, global stocks are having their worst weekly drop in nearly three months.
Tag - aud - australian dollar
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Asian shares climbed to near all-time highs on Monday as concerns over rising COVID-19 cases and delays in vaccine supplies were eclipsed by the optimism of a $1.9 trillion fiscal stimulus plan to help revive the US economy.
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
Asian equity markets were mostly positive as the region partially sustained the momentum from the tech-led gains on Wall Street.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
Here is the technical analysis of GBP/USD, EUR/JPY, silver, and AUD/JPY!
Boris Johnson is holding emergency talks to avert Christmas food shortages after France banned freight and travel from the UK.
Société Générale predicts that the Austrian dollar will rally up in 2021 due to the Australian fast recovery.
Asian equity markets follow suit to the mixed performance in the US where sentiment was pressured and DJIA pulled back from record highs amid lockdown concerns.
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With Brexit being the last-minute breakthrough - or a failure - possibility, let's review the layout for the GBP against the EUR and the USD. We will review oil, gold, and other Forex assets too - and don't forget the US and the UK interest rates this week!