Forex Today: Markets doubt US-Sino progress, Powell sees glass filling, GBP/USD spooked by poll
Here is what you need to know on Tuesday, November 26:
Trade: China's Xinhua and Global Times have reported that Sino-American negotiators have reached a consensus about a deal that includes a rollback of tariffs, albeit both sides have differences in the duties. Both sides have spoken on the phone and agreed to remain in contact. While stock futures are higher, currencies are little-changed, with only a modest rise in 109.
Fed: Jerome Powell, Chairman of the Federal Reserve, has expressed optimism about the US and economy and satisfaction from the current monetary policy. The "glass is more than half full."
The Conference Board's Consumer Confidence gauge for November is set to show improvement as the shopping season kicks off. Housing prices and the US Goods Trade Balance are also of interest. See Consumer Confidence Preview: Rising confidence supports the economy
GBP/USD's advance stalled after one opinion poll showed a narrowing of the gap between the Conservatives and Labour to only 7%. Another survey published on the weekend printed a whopping 19% difference. The elections are held on December 12.
AUD/USD is awaiting a speech from Phillip Lowe, Governor of the Reserve Bank of Australia, on the topic of Quantitative Easing.
NZD/USD is holding onto gains made late on Monday third-quarter Retail Sales in New Zealand jumped by 1.6%, better than expected.
Gold is consolidating above $1,450 and oil prices are hovering around $58.
Prices of cryptocurrencies have recovered after the sell-off, with Bitcoin settling above $7,200.
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Author
Yohay Elam
FXStreet
Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.
