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FOREX SUMMARY

FOREX

A light turnovers session in FX as we near year end.USD is once again trading on the back foot.

  • NOK is the best performer in G10 versus the Dollar on the higher Oil, after another drop in US stockpile.
  • Some early small EUR was noted as the currency tested lows GBP, CAD, SEK, AUD, JPY, and in EM the TRY
  • EURGBP tested initial support at 0.9032, printed a 0.90292 low.
  • Today, the House of Commons is holding debate on the Brexit trade deal between the EU and U.K, which will last all day and votes expected later tonight.
  • On the Covid front, Matt Hancock is set to give out new tier details around 14.30GMT.
  • The most notable move today was seen in EM and the Turkish Lira, which was up 1% at some point of the morning session.
  • USDTRY tested the big 200d MA support situated today at 7.3058 ), which has held (traded 7.3089 low.
  • USDTRY is now just down 0.66%, and trading at 7.34 at the time of typing. Looking ahead, US Wholesale Inventories and MNI Chicago PMI are the data of note.
  • Focus for the UK will be on the new lockdown measures.
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