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Euro remains resilient despite Brexit uncertainty
2020-12-07 • Updated
Ichimoku Kinko Hyo
AUD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver after a remarkable buying moves lower today below the key retracement area of 61.6%.
US Market View
World shares and other risk assets fell on Monday as growing risks of a no-deal Brexit that hit the pound hard and fresh Sino-U.S. tensions offset bets over more fiscal and central bank stimulus in Europe and the United States. In currencies, the pound was under heavy pressure and risk currencies fell as the lack of progress in Brexit talks dented hopes that UK and EU negotiators will be able to strike a trade deal before a transition period ends later this month. Oil prices weakened Monday on concerns the surge in coronavirus cases, mainly in Europe and the U.S., will result in more lockdowns, hitting demand for the product.
USA Key Point
- China halts beef imports from Australian firm
- Dollar keeps firmer on the softer risk mood today
- Brexit talks likely to conclude today if there is no further progress
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