Trade Idea (2020-12-15) GBP fell after soaring

Trade Idea

Good morning.

US stocks were mixed yesterday, with the Dow Jones Industrial Average closing at -0.62%, the S & P 500 closing at -0.44% and the Nasdaq Composite closing at + 0.5%. Expectations for additional economic measures in the US and trade negotiations between the UK and EU in the early stages, and vaccinations in the US have been started and buying was dominant, but in the latter half, return sales are dominant, and all major indexes have come and gone. It was. The Nasdaq was relatively strong and finished in a positive sphere.

In the foreign exchange market, expectations for an agreement on the UK-EU trade negotiations increased, and GBP rose until European time, but then returned sales strengthened in New York time, ending in the low range of 1.33 zone. EURUSD temporarily rose to nearly 1.218 and ended at 1.214.

EURUSD H1 (Please click the chart to enlarge.)

Market Environment

Yesterday’s currency strength


currency-strength.com

US market yesterday (last Friday)

DJIA: 29,861.55 (-184.82, -0.62%)
S&P 500: 3,647.49 (-15.97, -0.44%)
NASDAQ Composite: 12,440.04 (+62.17, +0.5%)
NASAQ 100: 12,462.21 (+86.8, +0.7%)
Russel 2000:1,913.86 (+2.16, +0.11%)
GOLD: 1,829.4 (-2.7)
OIL: 46.93 (-0.06)
US 10-YR: 0.896 (+0.005)
VIX: 24.72 (+1.41)

Asian market today

Nikkei: 26,709 (-22)
CME Dow future: 29,865~(+3 Dow)

Economic indicators in this week

GMT
00:30 (AU) RBA minutes (for 1st of Dec)
02:00 (CH) Retail sales etc.