The Australian Dollar looks teed up for another turbulent week. At its November monetary policy meeting on Tuesday, the Reserve Bank of Australia (RBA) board members slashed the official cash rate (OCR) to a record low of 0.10% from 0.25% previous, as widely expected. The RBA set its three-year bond yield target at 0.10%. The [...]
GBP/USD traders bear the burden of the UK’s second national lockdown while ignoring upbeat news favoring odds of a soft Brexit. Also weighing the quote could be the US dollar gains amid the cautious sentiment ahead of tomorrow’s American election. In order to avoid the 20% GDP contraction, as it happened during the first lockdown [...]
Fundamental view: The yellow metal had been rocking on the scope for more greenbacks, fiscal stimulus talks seemed to be making progress, but after Congress adjourned, the final nail hit the coffin of talks. The breakdown in talks weighed on the precious metal. Democrats and Republicans were hovering around a $2 trillion deal that could have helped gold prices. [...]
Fundamental view: The British pound has fallen a bit during the course of the week but recovered nicely to reach towards the 1.30 level. United Kingdom may have to slow its economy down, if not market down. We also have the Brexit situation, which is not getting any better, so that is something to pay attention to. [...]
