Market news – 17 Dec 2019

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By: Stuart Cowell

Good Morning – GBP slips No Brexit option to be enshrined in law to ensure Trade deal within 12 months? USD recovers – Asian equities play catch up. RBA suggest a cut in February


USD index – got some ju-ju back after mixed US data and no clarity on Trade deal – trade 96.70 top of yesterdays range at R1.
EUR – up but again capped by 1.1150
JPY – rotating around pp 10950
GBP – dived on Johnson suggesting will implement the law to ensure UK leaves Trade talks with EU bu Dec. 2020. NO DEAL Brexit possibility back. From highs over 1.3400 yesterday – down to S2 at 1.3255. 200MA 1.3215 – S3 1.3200.
AUD – gave up attempts at 0.6900 yesterday – fell again following RBA mins with raised expectations of action in Feb if fundamentals do not improve. Under 6870 support at 200MA 6860. Below S2 6855 s3 0.6840

Equities – Record high close (+22 @ 3191) FUTS up again 3196

Gold – continues consolidating – 1477 r1 1478, pp 1476, S1 1473
USOil – holds break of $60.00 – trades at $60.25

TODAY – Wages & Earnings from the UK, USD Building Permits, JOLTS & TIPP data, with speeches from Rosengren & Carney

Biggest mover overnight at 07:30 GMT – EURGBP up +0.62%


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