Global Equities Rally, U.S. Dollar Weakens
Global equities were on course for the best month on record amid a usually quiet Thanksgiving holiday week.
The U.S. dollar held its decline while speculation that Coronavirus vaccines and a possibly peaceful presidential transition are steps toward normalization in the economy drove U.S. shares higher and the Dow Jones to a record high.
Elsewhere, the euro benefited from the dollar’s weakness and rose back above 1.19 this morning. Also, the DAX was spurred by the market’s rally and touched an early September-high at 13383.
The only currency pair that treated water Tuesday was the GBP/USD remaining within an 80-pips trading range.
Today we have some key events coming up:
USD: Minutes of the most recent Federal Open Market Committee meeting are due in the evening (19:00 UTC)
USD: U.S. jobless claims, GDP and personal spending data (13:30 & 15:00 UTC)
GBP: U.K. expected today to deliver the government’s spending plans for next year.
We wish you good trades!
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