Stocks resurged Thursday afternoon after Bloomberg reported that U.S. negotiators had reached terms of a phase one trade deal that now awaits approval from President Donald Trump
Boris Johnson is heading for the biggest win since Margaret Thatcher in the U.K. Election according to the exit poll revealed at 5pm E.T time. The first prediction of UK voting has sent the pound sharply up and is likely to see markets rise in the morning.
After chairing the central bank’s governing council, she signalled continuity with the loose monetary policies designed by her predecessor Mario Draghi. But she also indicated that she would stick to her own style of communicating with market
Investing.com - The British pound jumped as the U.K. general election exit poll showed Thursday the ruling Conservative party running away with a big majority in parliament.
Investing.com - The major stock indexes surged to new intraday highs, and the S&P; 500 and Nasdaq Composite indices closed at new records on reports that the United States and China have "an agreement in principle" on a phase one trade deal.
Christine Lagarde, the new president of the ECB, presided over her first policy meeting on Thursday. Lagarde didn’t make any policy changes, but her promise to review ECB operations could lead to changes at the powerful central bank.
Gold markets initially tried to rally during the trading session on Thursday but ran into a lot of resistance in the form of a downtrend line. Beyond that, we also have the 50 day EMA starting to influence the market as well.
The US dollar has gone back and forth during the trading session on Thursday, as we await the tariff decision over the weekend. The December 15 headline is quickly approaching, and that of course is going to be paramount.
The British pound has gone back and forth during the session on Thursday as the election is going on in the United Kingdom. Quite frankly, most of the traders out there have priced and the idea of a Tory victory.
The British pound went back and forth during the trading session on Thursday against the Japanese yen as we await the election result in the United Kingdom. Simply put, we have rallied into the election with a specified result in mind.
The Euro has rallied a bit during the trading session on Thursday, breaking above the 200 day EMA. We have since pulled back a bit though, so it looks as if the market is probably going to fade in this general vicinity.
The Australian dollar rallied a bit again during the trading session on Thursday, as we continue to see bullish pressure. It perhaps was helped by poor US figures, but at the end of the day this looks like a market that is trying to form a longer-term bottom.
Investing.com - It took eight years, but palladium has finally done it, erasing gold’s all-time highs on Thursday on persistent worries about the auto-catalyst metal’s tight supplies.
New European Central Bank President Christine Lagarde on Thursday projected an optimistic tone after the central bank left interest rates unchanged.
* MSCI Latam stocks, currency indexes at 1-mth highs * Brazil stocks hit record high * Mexican peso subdued as industrial production dips By Ambar Warrick Dec 12 (Reuters) - Latin American assets firmed on Thursday, with Brazil stocks at a record high as the prospect of an accommodative U.S. Federal Reserve posited a risk-on sentiment that was reflected across global markets. Against this backdrop, global stocks rallied, with the MSCI's broadest world share index just a few points shy of a record high. Brazil's benchmark stock index touched a record high after the country's central bank cut interest rates to a record low on Wednesday, as expected.
LONDON MARKETS Sterling slumped on Thursday on uncertainty over the December 12 general election. The pound (GBPUSD) traded as low as $1.3118 from $1.3195 on Wednesday, as traders anticipate whether the Conservatives will secure a majority in Parliament or not.
Investing.com – The pound retreated further on Thursday on fears the ruling Conservative party is set to secure a narrower parliamentary majority than expected after the latest polls showed its lead had shrunk ahead of election results due later.
Gold traders are being cautious on Thursday, but not because of the outcome of the U.K. elections, but because of the uncertainty over whether the U.S. will impose new tariffs on Chinese imports on December 15.
The European Central Bank on Thursday kept its main deposit rate at negative 0.5%, a move that was anticipated by analysts. The ECB also kept its asset purchase program at 20 billion euros per month. "The Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, 2% within its projection horizon, and such convergence has been consistently reflected in underlying inflation dynamics," the central bank said. Attention now moves to the press conference to be held by new ECB President Christine Lagarde, with traders looking for clues as to the direction of the strategy review she says the central bank will undergo.
Based on the early price action and the current price at 1.1134, the direction of the EUR/USD the rest of the session on Thursday is likely to be determined by trader reaction to the downtrending Gann angle at 1.1139.
Yesterday evening we found out that we should not expect any interest rate rises in 2020, which of course was a rather negative information for the American Dollar.
This morning Britain started voting. The results of the General Elections are important not only in the United Kingdom but around the world.
GBP/USD is testing major resistance ahead of the elections that will pave the path for Brexit. The Tories still lead the polls but it could be a close one.