The EURGBP rate was 1.55% higher after further drama over the virus saw London and the rest of the U.K. move into strict lockdown. The situation worsened as European countries banned travel between Britain and a Brexit deal is still not agreed.
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JoinedAug 21, 2020, 10:11 BST
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Kevin George has over twelve years' experience in financial markets trading, which included stints in London and New York, trading equities and currencies. He has also traded in commodities, equities, futures and options. He has extensive technical-experience and combines this with a fundamental overview.
He has published for SeekingAlpha, where he runs his own subscriber newsletter and graduated with an MSc in finance in 2017.
The Dax index is 0.34% higher on the day as stock indices see continued momentum. The German blue-chip index is trading at 13,712 with the February pre-virus highs at 13,800.
GBPAUD was pointing lower for a second day as the pair's rally on hopes of a Brexit deal starts to fade once more. U.K. negotiators have criticized the EU for making unreasonable demands over fishing rights in British waters.
Crude oil was trading higher at $48.40 and is heading for the $50.00 level. Prices were boosted by the latest EIA inventories which showed a stockpile draw.
GBPJPY was trading higher on Thursday as Brexit talks come down to fishing rights. The pair is also benefiting from a continued rise in stock markets which is lowering the desire for safe havens like the Yen.
Gold prices are rallying again to the key $1863 level, which has been a very important level in the second half of 2020. It is interesting that the precious metal is testing this level as the FED announces interest rates today.
The EURGBP was trading lower on Wednesday after traders remained hopeful of a positive Brexit outcome. The pound shook off a higher unemployment rate and a Tier 3 strict lockdown in London to gain on the euro.
GBPAUD was trading higher on Tuesday after the Reserve Bank of Australia signalled further economic stimulus. The pair was trading near 1.7690 but was unchanged after giving up some of the earlier gains.
The Dax index was higher by around 0.25% on Tuesday as traders keep an optimistic frame of mind but the risks are piling up for the stock indices... For now, the risks outweigh the rewards of going long.
EURGBP was higher after the UK and the European Union decided to continue trade talks beyond Sunday’s deadline. There was a potential of a No Deal Brexit occurring this weekend, but many traders have seen these deadlines come and go before...
USDZAR was lower on the day by 0.8% as the pair struggles to see follow-through above the 15.00 support level. A two-day rally saw the US Dollar trading near 15.20 but the bears are back in control as the week gets underway.
The FTSE 100 is 0.57% lower on Friday as the Brexit saga moves to another deadline on Sunday. Prime Minister Boris Johnson has said there is a "strong possibility" of this outcome but markets are not moving much on this assessment.