FX MARKET REPORT 16.11.2020

FX MARKET REPORT 16.11.2020

FX MARKET REPORT 16.11.2020

Daily Commentary
Daily Commentary
FX MARKET REPORT 16.11.2020
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FX MARKET REPORT 16.11.2020

GBP/USD at four-day tops, extending its bullish momentum above 1.3200, as US dollar loses further ground. Risk-on mood overshadows discouraging Brexit developments. Focus remains on the covid stats amid light economic docket.  EUR/USD prints gains as risk-on weighs over the safe-haven greenback, in the 1.1850 neighborhood. The rising coronavirus cases across the Eurozone could cap upside in the EUR. Meanwhile the agreement on the Regional Comprehensive Economic Partnership, or RCEP, free trade deal also adds to the upbeat market sentiment. The dollar weakened in early European trade Monday, with positive economic data out of Asia increasing optimism of a global recovery even given the continuing rise of new Covid-19 cases. The Dollar Index was down 0.2% at 92.597. USD/JPY fell 0.1% to 104.53, while the risk sensitive AUD/USD rose 0.3% to 0.7287.

GBP/USD at four-day tops, extending its bullish momentum above 1.3200, as US dollar loses further ground. Risk-on mood overshadows discouraging Brexit developments. Focus remains on the covid stats amid light economic docket.  EUR/USD prints gains as risk-on weighs over the safe-haven greenback, in the 1.1850 neighborhood. The rising coronavirus cases across the Eurozone could cap…

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