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Stocks Continue to Drift North, GBP Slides on Election Polls

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Most major indices continued sailing north yesterday, boosted once again by news and headlines that the US and China are getting closer into singing a “phase one” deal. In the FX world, a day ahead of the Thanksgiving Day, USD-traders are likely to pay some attention to the yoy core PCE rate, which is the Fed’s favorite inflation gauge. The pound slid yesterday, after opinion polls showed that the Conservative Party’s lead is narrowing.

US-China Optimism Keeps Sentiment Supported, Pound Slips on Polls

The dollar traded mixed against the other G10 currencies on Tuesday and during the Asian morning Wednesday. It gained versus GBP, CHF, AUD and JPY, while it underperformed versus SEK and CAD. The greenback was found virtually unchanged against EUR, NZD and NOK.

Once again, looking at the performance in the FX sphere, we don’t get a crystal-clear picture with regards to the broader market sentiment. However, the slight weakening of...

Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbank.com/en/research/stocks-continue-to-drift-north-gbp-slides-on-election-polls-20191127
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