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Risk Sentiment Improves, BoC Turns Back Neutral, OPEC+ Gathers in Vienna

JFD

Following Monday’s and Tuesday’s slide, equity indices rebounded on Wednesday, after a report said that US and China are close to a “phase one” deal, and after US President Donald Trump said that talks are going “very well”. The Loonie traded higher after the BOC said that the current level of rates is appropriate. As for today, the OPEC+ group meets in Vienna to decide on oil output.

Equities Rebound, GBP and CAD the Main G10 Winners, OPEC+ Meets

The dollar traded lower against all but two of the other G10 currencies on Wednesday and during the Asian morning Thursday. It underperformed the most versus GBP, CAD and SEK, while the currencies against which it didn’t lose any ground were JPY and CHF. Specifically, it was found unchanged against CHF, and slightly lower against JPY.

The weakening of the safe-havens suggests that risk sentiment took an 180-degree turn yesterday. Indeed, major EU and US indices rebounded and closed Wednesday’s session in the...

Read the full financial markets daily report on JFD Research.

JFD Review

Source: https://www.jfdbank.com/en/research/risk-sentiment-improves-boc-turns-back-neutral-opec-gathers-in-vienna-20191205
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