12.12 - USD keeps us with the slide for today. Further outlook is positive.
Yesterday the talk of the town was USD. And rightfully so. American dollar attracted our attention because yesterday the fate of interest rates was being decided. And, of course, we were very interested in seeing what the decision would bring for us and for the markets. And, even though interest rates remain unaltered for now, the greenback is still sliding lower and lower giving the possibility to other currencies to grow against itself. Of course, growth of EUR/USD is a very good thing, but we are scared of what can happen when the greenback starts to recover after all.
It seems that American law makers and market watcher are trying to stay calm on account of the prognosis for American economy for 2020. The prognosis is more than favorable and that is why today’s downtrend of the market doesn’t call for any panic among the officials. Should we panic? Well, not If you are earning right now.
Today British elections are going to take place. General elections are going to put a lot of thing in their place. For example, Brexit depends on which party is going to finish the race first. If Boris Johnson and his party are the ones to win, then we are going to face the opportunity of no-deal Brexit at all. If their opponents are ahead today, then we will be able to start talking about second Brexit referendum and reversal of the decision altogether.
So, USD and GBP are going through turbulent times, especially today. Despite of all of the anticipation GBP is still winning the fight from USD. By a lot. The currency went to the highest point in weeks with the biggest surge in months. It is pleasant to see pound demonstrating it power like that.
Gold and precious metals are mixed, with no need for safe havens for the time-being. Oil is adding price once again.
Here are the main surges and falls for today:
Topix wasn’t changed much.
Kospi added 1.4 percent.
Shanghai Composite lost 0.2 percent.
Hang Seng from Hong Kong added 1.4 percent
S&P 500 futures advanced 0.1 percent.
Euro grew 0.45 percent - $1.1138.
Pound grew 0.6 percent - $1.3213.
Yen recovered 0.1 percent – 108.59 per dollar.
Canadian dollar surged 0.5 percent - $1.3169.
Tesla increased 1.1 percent - $352.7.
Apple recovered 0.85 percent - $270.77.
Facebook grew 0.7 percent – $202.26.
Amazon grew 0.55 percent - $1748.72 per share.
Google added 0.1 percent - $1344.25.
WTI recovered 0.1 percent - $58.85 per barrel.
Brent added 0.2 percent - $63.97 per barrel.
Gold wasn’t moved much - $1474.03 per ounce.
Silver grew 0.1 percent - $16.86 per ounce.
Platinum grew 0.1 percent – $938.73.