30 Nov

Disagreements between the UK and EU persist

November 30, 2020

by JustForex

The EU chief negotiator Michel Barnier said that significant differences remain between the European Union and the UK regarding the fishing industry, government aid, and future dispute resolution procedures in the negotiations on a trade agreement. He tweeted that divergence of views persist and he is traveling to London for talks with chief Brexit negotiator David Frost. We recommend you to continue monitoring the progress of these negotiations, this can have a dramatic effect on the EUR, GBP currency pairs.

The governor of the Bank of Canada says that the rates in Canada will remain very low for a very long time.

The bank has pledged to stop buying government bonds when the recovery is in full swing, most likely before inflation hits the 2% target.

It was also noted that there is a lot of potential for expanding QE if needed. From his statement, we can conclude that the stimulus policy remains with Canada, so we should not expect the growth of the Canadian dollar.

Crude oil prices of benchmark marks are declining today on expectations of the OPEC conference results, where ministers will have to approve or disapprove the possibility of extending the current restrictions on crude oil production under the OPEC agreement. The Ministerial Conference of OPEC and non-OPEC countries will take place tomorrow. The correction of WTI crude oil is expected to reach the level of 43.50.

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Market indicators

On Friday, the American market closed with the growth of indices. The Dow added 0.13%, NASDAQ +0.92%, S&P 500 +0.24%.

The dollar index maintains a downward trend and dropped to the level of 91.70.

The 10-year government bonds yield remains stable at 0.83%.

It is worth paying attention to the news feed for today. At this time, we recommend traders to be careful when making transactions due to the increased volatility.

The news feed for 2020.11.30:
  • 12:00 – ECB President Lagarde Speech (GMT+2);
  • 17:00 – United States Pending Home Sales Index (GMT+2).

by JustForex

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.


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