The dollar traded lower versus majors Friday and looks lower opening the trading this morning versus the Sterling and Euro. With no news on the agenda investors will focus on any US – China trade news as well as any Brexit outcome that’s now backed by UK Prime Minister Johnson confidence for the Dec 12 Parliament vote. All other FX markets traded mostly sideways while EU and US equity markets traded in positive territory despite tight trading ranges and lower volumes and closed at 2019 highs and all-time highs respectively. Gold traded lower to a negative close at $1,467 per ounce and Silver traded lower as well, closing at $16.91 per ounce, both negative on a move from “safety” despite the weaker dollar. Oil traded sharply higher Friday, closing the week with stellar gains of 1.8% following optimism for a US – China trade deal, but worries about US increasing crude supplies capped prices. Oil closed at $57.8 per barrel, up nearly $2 for the week.
There is no important news on the agenda Monday. (all times GMT).
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Oil looks higher this morning, after climbing 1.8% Friday on US China trade optimism.
Sterling looking at 2019 highs following UK Prime Minister Johnson statements on Friday.
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