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FOREX SUMMARY

FOREX

FX respected this morning's ranges ahead of the US run-offs.

  • USD has recovered some of its losses, but is still trading in the red against all G10s, following the big beat for the US ISM manufacturing.
  • US equity bid, is keeping the lid on the Greenback.
  • SEK faded some of its gains and moves off its high. SEK was up 0.86% against the Dollar at some point, but now back at 0.53%.
  • Local desk only report thin domestic action, with most awaiting on the US election outcome.
  • Also, market participants are mostly on the sideline with SEK closed tomorrow Target support for USDSEK is still at the 31st Dec low 8.1494, which is the lowest level since February 2018.
  • Despite the UK lockdown, Cable trades in positive territory, but a function of the Dollar price action today.
  • GBPUSD is trading close to the figure at 1.3600,
  • Looking ahead, Fed Evans and Williams are still yet to speak, and of course US Georgia election
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