A quiet Asian affair, with some selling seen in the EUR across the board following the outcome of the Catalan election. As a result, the US dollar sharply against its main competitors, while the reports that the US Congress voted to avert a government shutdown also lifted the sentiment around the buck. The Aussie emerged the top gainer, while the Kiwi and USD/JPY traded modestly flat among the Asia-pac currencies.
Among other related markets, the Asian stocks were mostly higher, while commodities’ prices were broadly sold-off into notable USD demand, with copper prices losing the most.
Main topics in Asia
Majority of U.S. House supports temporary funding to avoid govt shutdown - Reuters
Reuters recently reported that the majority of the U.S. House of Representatives supports the temporary funding to operate the government through January 19. Voting continues.
Japan's Cabinet approves FY 2018/19 budget, biggest amount on record
Japan's Cabinet approves annual general-account budget spending worth 97.7128 trln yen in FY 2018/19, the biggest amount on record, Reuters reports.
Three reasons why Catalan secessionists won
Are you surprised by the Catalan election results? You must have been blind before the elections then.
Goldman Sachs considering setting up a cryptocurrency trading desk
Bloomberg quoted to the people with the knowledge of the strategy, citing that the US banking giant, Goldman Sachs is mulling over a plan to build a cryptocurrency trading desk.
N. Korea's leader Kim: Capable of posing a "substantial" nuclear threat to the US
Reuters reports the latest comments cited by the Korean Central News Agency (KCNA), the state media, from the North Korean leader Kim Jong-un.
UN mulls banning 90% of oil product exports to North Korea
The Nikkei Asian Review is out with the latest headlines, citing the United Nations (UN) Security Council is considering additional sanctions on North Korea over its continued development of proscribed nuclear weapons and ballistic missiles.
Key Focus ahead
The economic calendar is quite eventful on the final trading day before the Christmas week, with the EUR, GBP traders eagerly awaiting the UK final GDP and current account releases for fresh trading impetus. Meanwhile, there is absolutely no macro news to be reported from the EUR docket.
In the NA session, traders will watch out for the key Canadian GDP report that will be released alongside the US durable goods, core PCE price index, personal spending, and revised consumer sentiment data.
EUR/USD under pressure on Catalan election results
The risk of further political turmoil between the Spanish and the Catalan governments, coupled with worries over a minority government in Germany, are the main drivers pushing the European shared currency…
GBP/USD stuck in 20-pips range ahead of UK GDP
The GBP/USD pair managed to reverse a brief dip to 1.3369 lows reached in early Asia and now makes another attempts to regain 1.34 handle, as we progress towards late-Asian/ early European trading.
GBP: To buy or not to buy? - Rabobank
The morning headlines in the UK press are dominated by yet another tale of misfortune for PM Theresa May as her closest ally Damian Green was ordered to resign last night on the findings of a Cabinet Office investigation, points out Jane Foley, Senior FX Strategist at Rabobank.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD extends recovery beyond 1.0400 amid Wall Street's turnaround
EUR/USD extends its recovery beyond 1.0400, helped by the better performance of Wall Street and softer-than-anticipated United States PCE inflation. Profit-taking ahead of the winter holidays also takes its toll.
GBP/USD nears 1.2600 on renewed USD weakness
GBP/USD extends its rebound from multi-month lows and approaches 1.2600. The US Dollar stays on the back foot after softer-than-expected PCE inflation data, helping the pair edge higher. Nevertheless, GBP/USD remains on track to end the week in negative territory.
Gold rises above $2,620 as US yields edge lower
Gold extends its daily rebound and trades above $2,620 on Friday. The benchmark 10-year US Treasury bond yield declines toward 4.5% following the PCE inflation data for November, helping XAU/USD stretch higher in the American session.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.