Trade, UK Election, Oil, Gold, Bitcoin

US stocks are rising for a second consecutive day as investor optimism grows for President Trump to abandon his December 15th tariff threat. This tariff would end up punishing the US consumer and Trump wants to see a strong stock market with a happy consumer as we near the 2020 election. Safe-havens fell alongside Treasuries, but the moves are limited this morning. Read more…

GBP/USD confronts 200-week SMA amid upbeat polls, UK political plays

GBP/USD seesaws near 1.3115 ahead of the London open on Thursday. The pair nears the multi-month peak marked Wednesday amid optimism surrounding the United Kingdom’s (UK) political plays.

Be it expecting a soft Brexit or no rate change till 2022, versus the previous forecast of 2021, Reuters seems to be optimistic about the UK’s catalysts and the same might have lured the buyers. Also increasing the pair’s strength is The Telegraph’s news that Prime Minister (PM) Boris Johnson pledges £200 tax cut for millions within weeks of Tories being elected. Read more...