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Gold Price Analysis: XAU/USD bears keep reins below $1,900 amid US dollar strength

Dec 22, 2020 22:42 GMTFXStreet News Gold prices remain depressed after marking the heaviest losses in two weeks. Market sentiment worsens amid virus, Brexit concerns, Wall Street can’t cheer US stimulus. US dollar index surged the most since August 19. Gold prices hold lower ground near $1,860 amid the early Wednesday morning in Asia. The yellow metal dropped the most since December 09 amid broad US dollar strength. While the greenback benefited from the passage of the US coronavirus (COVID-19) aid package and broad risk-off mood, sentiment remains downbeat as Brexit deadlock prevails while markets worry from the fresh covid variant. King Dollar has reasons to celebrate…

GBP/USD: Corrective pullback eyes 1 3400 despite Brexit deadlock, virus woes in UK

12/22/2020 11:23:41 PM GMT | By Anil Panchal GBP/USD keeps bounces off 1.3300 despite Brexit, virus concerns. Bloc shows mild acceptance to the UK’s fishing terms, EU Chief Von der Leyen, UK PM Johnson eyed for resolution. Fears of more British areas to be put under Tier 4 lockdown from December 26 gain momentum. No major data from the UK but the US calendar remains populated, risk headlines remain as the key. GBP/USD ticks up to 1.3375 while consolidating the previous three days’ downside during Wednesday s Asian session. In doing so, the Cable pays a little heed to The Telegraph headlines suggesting more lockdowns in Britain are on the way. Also challenging the corrective pullback is the Brexit deadlock that’s far from over.

European Equities: Brexit News to Deliver Early Support

Advertisement The Majors It was a bearish end to the week for the European majors on Friday, with the DAX30 sliding by 1.36% to lead the way down. The CAC40 and the EuroStoxx600 saw more modest losses of 0.76% and 0.77% respectively. A lack of progress towards a Brexit deal spooked the European majors at the end of the week. EU President Ursula von der Leyen announced that it was likely that Britain would leave the EU without a deal on Friday. Boris Johnson made a similar concession on Friday, with French President Macron stating that there would be no compromise to fisheries and more.

Currencies Struggle as Brexit and US Stimulus Hopes Fade

December 11, 2020 Daily FX Market Roundup December 11, 2020 Currencies were driven lower on Friday on fading hopes for Brexit and US stimulus deals. For most of this year, investors believed that the UK would eventually cave and agree to an orderly exit out of the European Union. However with only a few weeks before their deadline, the final round of Brexit talks are failing quickly with both sides preparing contingencies. In the US, lawmakers are expected to pass a one week spending bill to fund the government but the House has indicated that anything beyond that would require agreement to a broader fiscal stimulus plan. Unfortunately very little progress has been made and Senate Republicans say they do not have majority support for the current bill. If agreements cannot be reached in the next week or two, we could see sharp year end losses in currencies and equities.

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