Daily Update – 31st December 2019
The EUR/USD pair peaked at 1.1210 early on Monday, a level that was last seen mid-August, as the broad dollar’s weakness was again the main theme across the FX board. Volumes remained thin amid winter holidays, while the calendar was quite scarce Equities were down despite some encouraging news in the trade war front, as the Chinese trade negotiator, Liu He, will reportedly visit Washington this Saturday, most likely to sign phase one of the trade agreement. The GBP/USD pair benefited once again from the dollar’s weakness, with buyers putting aside Brexit concerns. The pair surged to 1.3150, its highest in two weeks. Market players are still concerned that PM Johnson’s decision to limit the transition period to December 2020 would end up in a hard-Brexit. Even EU authorities are worried about the short time spam left to arrange the future relationship between the UK and the EU. The UK Parliament will resume debating the Withdrawal Agreement Bill next Tuesday. USD Housing Price Index The macroeconomic calendar has nothing relevant to offer this Tuesday, in the meantime, most markets will be closed until next Thursday, with no data scheduled for release in the UK. Yesterday's Focus
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