This US dollar is gaining sharply across the FX market this week and this is especially apparent on the GBPUSD. The pound faces a series of risks from Brexit negotiations through covid restrictions through rate cuts. Andrew Bailey from Bank of England reiterated today that the Bank was looking hard at cutting rates and negative rates should be a part of the toolbox in UK. GBPUSD plunged below the key 1.2775 support as a result, sending a negative technical signal.
The pair is at the lowest level since late July and technically no longer in upwards trend.
Market Wrap: Clear rebound in Europe against falling oil price. Assets related to Brazil in retreat
Chart of the day: European gas ever closer to 100 EURMWh
Economic Calendar - German Ifo index, Middle East escalation, and Wall Street giants' earnings
Elections in Brazil: Lula returns to power, markets react with panic. Brazilian ETF loses nearly 15% in Tokyo. What about USDBRL, soybeans, sugar, BRAComp, and ETFs?
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.