GBP minimize losses as Brexit pessimism under question

GBP minimize losses as Brexit pessimism under question

2020-12-18 • Updated

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Ichimoku Kinko Hyo

EUR/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.

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Fibonacci Levels

XAU/USD: Gold after important gains consolidates below a full retracement.

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European Market View

Asian equity markets traded cautiously despite fresh record levels on Wall Street. European stock markets are seen opening lower Friday, with doubts again growing that a post-Brexit trade deal between the UK and the European Union can be agreed upon. A spokesman for UK Prime Minister Boris Johnson also warned it was “very likely” there would be no agreement unless the bloc changed its position “substantially”.

The US FDA has reportedly decided to approve Moderna's COVID-19 vaccine on an emergency basis following the panel recommendation. Looking ahead, highlights from the macroeconomic calendar include UK retail sales, German IFO, Canadian retail sales, will be watched. 

EU Key Point

  • BOJ's Kuroda claims that It is too early to taper ETF purchases
  • Eurostoxx futures -0.2% in early European trading
  • UK November retail sales -3.8% vs -4.2% m/m expected
  • BOJ's Kuroda supports that will ease monetary policy further without hesitation as needed

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