Category: Featured

Cable traded firmer Tuesday amid hotter-than-expected UK Markit Construction PMI, and latest election polls displaying a widening lead in favour of Conservatives.

Europe’s single currency strongly advanced against its US counterpart Monday, adding more than 60 points, or 0.58%. The buck turned lower following US President Trump’s announcement of steel and aluminium tariffs on Brazil and Argentina.

Friday had Europe’s shared currency a shade higher against the buck, recording a session low at 1.0981 and highs of 1.1028. On the data front, annual Eurozone inflation rose 1.0% in November 2019, up from 0.7% in October.

The US Thanksgiving holiday witnessed thin trade Thursday. On the data front, however, headline German CPI for November missed expectations for a pick-up to 1.3%, and the pace remained unchanged at 1.1%, missing estimates for a rise to 1.3% y/y. The m/m release fell deeper than expected, falling 0.8% vs. 0.6% expectations.

British Prime Minister Boris Johnson is on course to win a majority of 68 in parliament at the Dec. 12 election, according to a model from pollsters YouGov that accurately predicted the 2017 election (Reuters).