Technical Analysis

GBP is the strongest now, while the USD is the weakest

Snapshot of the changes.

The NY morning (and into the early afternoon) has boosted the GBP and weakened the USD.

The GBP moved from being weaker to surging to the top of the table with help from hopes that there may be some give and take with the EU on a solution for the Irish border. That has helped to squeeze the pound higher. 

For the USD, the GBPs move, dragged up the EUR (weakening the USD). Yields in the US are also falling and helping to weaken the greenback. 

US yields are lower on the day.

Dollar weakness is helping to support gold. It is up $9.50 or 0.63% at $1505.40.

WTI crude oil futures are down $0.17 or -0.30% of $56.04.

US stocks rallied from lower levels to turn positive (well the S&P just got to unchanged and turned around), but are back in the red.  The German DAX. France CAC, UK FTSE all snatched defeat from the jaws of victory after giving up gains and closing lower.

US stocks have moved back in the red

ForexLive

Articles You May Like

USDCNH firmly rejecting 7.00 handle on trade tariff news from China
Australia September home loans +3.6% vs +1.0% m/m expected
ANYONE CAN TRADE FOREX – STEP BY STEP LIVE TRADING
Option expiries for the New York cut on Nov 7: A big one in cable today
EUR/USD GBP/JPY trade Best Forex Trading System 08 NOV 2019 Review -forex trading systems that work

Leave a Reply

Your email address will not be published. Required fields are marked *