Forex

Budding optimism over a global growth rebound post-pandemic is helping fuel demand for the Australian, Canadian, and New Zealand Dollars.

The rebound in the price of gold appears to have stalled ahead of the Federal Reserve’s last meeting for 2020 amid the failed attempt to test the 50-Day SMA ($1875).

The New Zealand Dollar has performed well recently against the USD as Covid vaccine rollouts cause shift towards riskier assets.�

USD/CAD is below a couple of degrees of large support, but a bounce may develop before resuming lower to test more support levels from 2018.

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Germany 30-bearish contrarian trading bias.

The Federal Reserve’s last meeting for 2020 may shake up the near-term outlook for the US Dollar with the bank slated to update the Summary of Economic Projections (SEP).

There is a likelihood that the EU and UK will fail to agree on post-Brexit trade terms, which may in turn boost the US dollar

European equities head lower towards year-end as caution creeps in

GBP/USD Falls to Session Lows as EU’s Von Der Leyen says No-Deal Brexit is the Most Likely Option

Germany’s benchmark DAX 30 index may slide lower in the near term as the nation’s ‘partial’ lockdown fails to suppress coronavirus infections.