FX MARKET REPORT 01.12.2020

FX MARKET REPORT 01.12.2020

FX MARKET REPORT 01.12.2020

Daily Commentary
Daily Commentary
FX MARKET REPORT 01.12.2020
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FX MARKET REPORT 01.12.2020

GBP/USD eases from the intraday high of 1.3366 while trading near 1.3360 during the pre-London open session on Tuesday. The Cable prints 0.25% intraday gains by press time as the bulls prefer following US dollar (USD) declines over Brexit headlines ahead of the UK Manufacturing PMI for November. US dollar index (DXY) fades bounce off the lowest since April 2018, marked the previous day, as US officials highlight concerns over the economic recovery while pushing for the coronavirus (COVID-19) aid package. Be it Fed Chair Jerome Powell or US Treasury Secretary Steve Mnuchin, not to forget Dallas Federal Reserve Bank President Robert Kaplan, all of them showed discretion about the likeliness of the world’s largest economy to lost recovery moves if the much-awaited stimulus stays far. EUR/USD re-targets the 1.2000 mark on Tuesday. German jobless rate ticked lower to 6.1% in November. EMU’s advanced inflation figures next of note in the docket. Dollar Index was down 0.1% at 91.748, after suffering its worst month in November since July. USD/JPY rose 0.1% to 104.33, while the risk-sensitive AUD/USD climbed 0.3% to 0.7366 after the Reserve Bank of Australia kept its key interest rate and three-year yield target at 0.10%, as expected.

GBP/USD eases from the intraday high of 1.3366 while trading near 1.3360 during the pre-London open session on Tuesday. The Cable prints 0.25% intraday gains by press time as the bulls prefer following US dollar (USD) declines over Brexit headlines ahead of the UK Manufacturing PMI for November. US dollar index (DXY) fades bounce off…

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