Risk buoyed by trade deal hopes; all eyes on US data
Amid holiday-thinned quiet trading, the market mood was buoyed by fresh hopes of a US-China trade deal after the US President Trump hinted overnight that he would prefer to get a whole deal done with China rather than an interim deal. The Asian stocks rallied while the US equity futures traded with mild gains.
However, the Treasury yields were on the defensive amid increased dovish Fed expectations and ahead of the key US macro releases due later on Friday. Meanwhile, the safe-haven Gold remained depressed below $ 1500 mark
GBP/USD: Brexit headlines counter doji ahead of US consumer-centric data
GBP/USD remains in the range despite challenging Brexit headlines. DUP refrains from support altering Irish backstop. US Retail Sales, Michigan Consumer Sentiment Index, trade/political headlines will be the key to watch.
Trading Central – GBP/USD
AUD/USD bid around 0.6870, bulls need progress soon
AUD/USD is bid around 0.6870 but remains below key Fibonacci level of 0.6880.
Charts show signs of bullish exhaustion above 0.6880.
AUD/USD is currently trading at 0.6870, representing moderate gains on the day, having hit a low of 0.6859 earlier today.
The Australian currency has recovered sharply from lows below 0.67 in the last few days as China’s rate cut eased pressure on the Reserve Bank of Australia to do more and the fading US-China trade tensions boosted risk sentiment.
Trading Central – AUD/USD
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