[EURUSD]
Important Levels to Watch for:
- Resistance line of 1.19349 and 1.19584.
- Support line of 1.18780 and 1.18590.
Commentary/ Reason:
- Against the euro, the dollar stood at $1.1925, close to its weakest in more than 2 months touched yesterday.
- The negative move for dollar however, subdued on concern that European governments will impose tighter restrictions to contain the spread of COVID-19 that will weighed for the euro. Meanwhile, ECB Financial Stability Review said Eurozone banks would probably have to set aside more money to cover losses when government pandemic support ends as some companies won't be able to cover debt repayments, which will put banks under renewed stress.
- The U.S. dollar depreciated as it is under pressure from Yellen's expected push for fiscal stimulus.
- Other negative moves for dollar also influenced by disappointing U.S. economic data and increasing new COVID-19 cases and lockdowns.
- Aside, investors also reacted to the minutes meeting released by the U.S. Federal Reserve’s November meeting.
[USDCHF]
Important Levels to Watch for:
- Resistance line of 0.91390 and 0.91646.
- Support line of 0.90562 and 0.90306.
Commentary/ Reason:
-The dollar touched a 1-week low against the Swiss franc earlier today, after the continuous slip since yesterday’s trade.
- The Swiss franc was now flat versus the greenback at 0.9069 per dollar.
[GBPUSD]
Important Levels to Watch for:
- Resistance line of 1.34165 and 1.34517.
- Support line of 1.33028 and 1.32677.
Commentary/ Reason:
- Sterling bought $1.3389 against the dollar, up 0.10% on the day.
- Earlier in the day, the sterling touched a more than 1-month high at $1.3397, which is near its strongest level since Sept. 2.
- The positive move is as investors awaited details on trade talks between Britain and the European Union this week.
- London and Brussels this week continue their negotiations to agree a deal on their future trading relationship, though time is now running very short as Britain’s post-Brexit transition period ends in fewer than six weeks. The three main sticking points in the Brexit talks remain fish stocks, economic fair play for companies including state aid, and ways to settle trade disputes.
- The British government on Thursday set to detail post-lockdown restrictions in England.