GBP/USD loses strenght because of an extented Brexit uncertainty

GBP/USD loses strenght because of an extented Brexit uncertainty

2020-12-07 • Updated

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Ichimoku Kinko Hyo

EUR/JPY: The pair is trading below the cloud. Further bearish pressure will lead the currency pair to retest the previous lows.

EURJPYM30 ich (2).png

Fibonacci Levels

XAU/USD: Gold consolidates above the key 50% retracement area since Thursday.

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European Market View

Asian equity markets were mixed despite the region initially taking its cue from the fresh record levels last Friday on Wall Street in which all major indices posted all-time highs. Asian shares retreated from a record peak on Monday after a Reuters report the United States was preparing to impose sanctions on some Chinese officials highlighted geopolitical tensions, while oil prices fell on surging virus cases.

Looking ahead, highlights from macroeconomic calendar include Eurozone Sentiment Index, German Industrial Production and Riksbank Minutes.

EU Key Point

  • UK reportedly reaffirms that there is no progress on fisheries, says EU is 'literally making it up'
  • Barnier reportedly told EU envoys that there is no deal yet
  • German factories less optimistic about production in the coming months
  • Germany reports 12,332 new coronavirus cases in latest update today

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