FX MARKET REPORT 13.11.2020

FX MARKET REPORT 13.11.2020

FX MARKET REPORT 13.11.2020

Daily Commentary
FX MARKET REPORT 13.11.2020
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FX MARKET REPORT 13.11.2020

Cable is likely to trade between 1.3000 and 1.3250 in the next weeks, noted FX Strategists at UOB Group. GBP/USD awaits fresh clues while taking rounds to the weekly low, off intraday bottom recently. Coronavirus cases in the UK, the US refresh record high, British economy losses more momentum in September. Brexit signals keep being mixed, UK’s finance ministry can extend tax break to manufacturers. Downbeat statements from Fed’s Powell, RBNZ’s Orr emphasize Bailey speech. EUR/USD challenges 3-day peaks in the 1.1820/30 band. The dollar keeps correcting lower and supports the pair’s upside. EMU’s flash Q3 GDP, Balance of Trade figures next of note in the docket. The dollar edged marginally lower in early European trade Friday, but the continuing rise of new Covid-19 cases throughout Europe and the U.S. is making traders nervous of buying riskier currencies despite the positive news of a potential vaccine. The dollar index was down 0.1% at 92.898. GBP/USD rose 0.3% to 1.3155, USD/JPY fell 0.1% to 105.00, while the risk sensitive AUD/USD rose 0.1% to 0.7233.

Cable is likely to trade between 1.3000 and 1.3250 in the next weeks, noted FX Strategists at UOB Group. GBP/USD awaits fresh clues while taking rounds to the weekly low, off intraday bottom recently. Coronavirus cases in the UK, the US refresh record high, British economy losses more momentum in September. Brexit signals keep being…

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