GBP hits 3 months high as Bexit deal is likely

GBP hits 3 months high as Bexit deal is likely

2020-11-23 • Updated

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Ichimoku Kinko Hyo

GBP/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.

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Fibonacci Levels

XAU/USD: Gold fails to move higher and still trading below 23.6% retracement area.

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EU Market View

Asian equity markets began the week on the front boot amid virus treatment hopes after reports the FDA granted EUA for Regeneron’s REGN-COV2 antibody cocktail. Looking ahead, highlights from macroeconomic calendar include Eurozone, UK and US PMIs (flash), BoE's Haldane, Bailey, Fed's Evans, Daly, ECB's Schnabel speeches. Investors' fresh optimism comes after a top official of the U.S. government's vaccine development effort said Sunday that the first vaccines could be given to U.S. healthcare workers and others recommended by mid-December. U.S. Treasury Secretary Steven Mnuchin said on Thursday that key pandemic lending programs at the Federal Reserve would expire on Dec. 31, putting the outgoing Trump administration at odds with the central bank and potentially adding stress to the economy.

EU Key Point

  • China warns that relations with the US will not automatically get better under Biden
  • Germany reports 10,864 new coronavirus cases in latest update today
  • US President-elect Biden to name Tony Blinken as secretary of state
  • New Zealand dollar on approach to its highs of last week
  • EU 'thinks Brexit deal 95% agreed' but anxiety remains
  • US to add four more Chinese firms to Pentagon blacklist

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