Cautious Trading Ahead of UK Data

 

The market was cautiously optimistic in Asia on Tuesday on upbeats news headlines and data. Across the forex boards, Kiwi and Aussie gained following upbeat Chinese data and stabilizing the AUB business survey. Meanwhile, the US dollar steadied allowing small gains on other majors.

On the trade front, traders are still waiting amid worries and negative US-China trade headlines. It seems that markets are having lesser trust on the Trump administration when it comes to Chinese tariffs, which will be activated on December 15. On the other hand, odds are rising for a trade deal between the US, Mexico, and Canada (USMCA). As a result, the Canadian dollar ticked higher against the greenback on USMCA optimism.

Heading into the European session, both the Euro and Pound traded better bid, with the possibility of another rally ahead of the UK GDP and Industrial output data. Eurozone and German ZEW surveys are also anticipated. Besides the economic news, the UK political headlines will continue to influence the market with the upcoming UK election on the 12th of December and results on the morning of 13th December.

NOTE: Traders are advised to be cautious and be updated on the major economic news causing high volatility to achieve better trading results.


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. The Bullfx (thebullfx), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Post categories

 

Symbol Bid Ask Spread
EURUSD 1.13349 1.13366 1.7
GBPUSD 1.26015 1.26035 2
USDCAD 1.34992 1.35012 2
USDJPY 108.950 108.970 2
USDCHF 0.95534 0.95554 2
AUDUSD 0.69330 0.69350 2
NZDUSD 0.64483 0.64505 2.2
EURGBP 0.89938 0.89958 2
EURCHF 1.08297 1.08317 2
EURJPY 123.505 123.524 1.9
AUDJPY 75.541 75.564 2.3
GBPJPY 137.307 137.330 2.3
USDSGD 1.39787 1.39815 2.8
XAUUSD 1720.92 1721.27 35
XAGUSD 17.808 17.843 3.5

The above live prices are provided solely for informational purposes, not for trading purposes, and may be delayed.

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