Trade Idea (2020-12-08) GBP fluctuated before ending trade deal

Trade Idea

Good morning.

Yesterday’s US stocks were mixed, the Dow Jones Industrial Average was -0.49%, the S & P 500 was -0.19%, and the Nasdaq Composite was + 0.45%. The Dow Jones Industrial Average fell for the first time in five days, and it was reported that the US government would impose sanctions on Chinese Communist Party officials over the disqualification of Hong Kong pro-democracy members, which also invited profit-taking sales. IT and tech stocks were relatively solid.

In the foreign exchange market, GBP has been swayed by the headlines of trade negotiations in the UK and EU, which have reached a close. EURUSD surged to 1.2167, ending near 1.2110, after being temporarily sold to 1.2077 following the GBP.

EURUSD H1 (Please click the chart to enlarge.)

Market Environment

Yesterday’s currency strength

US market yesterday (last Friday)

DJIA: 30,069.79 (-148.47, -0.49%)
S&P 500: 3,691.96 (-7.16, -0.19%)
NASDAQ Composite: 12,519.95 (+55.71, +0.45%)
NASDAQ 100: 12,596.47 (+67.99, +0.54%)
GOLD: 1,867.7 (+1.7)
OIL: 45.59 (-0.17)
US 10-YR: 0.929 (+0.001)
VIX: 21.3 (+0.51)

Asian market today

Nikkei: 26,493 (-54)
CME Dow future: 29,982~(-87 Dow)

Economic indicators in this week

10:00 (GE) ZEW index