24th December 2020 - USD struggles to find demand on Brexit hope


Good Morning,


Market Headlines

Brexit deal positivity and a second new variant of Covid-19 grabbed the headlines on a day where equities made ground with the USD mostly weaker. Commodities, Crude +0.9%, Copper +1.1%, Iron ore +3.5% Gold $1872/oz.


Currency

AUD/USD: 0.7543 – 0.7592

EUR/USD: 1.2161 – 1.2220

GBP/USD: 1.3403 – 1.3569

USD/JPY: 103.36 – 103.65

USD/CAD: 1.2835 – 1.2898

NZD/USD: 0.7051 – 0.7103

AUD/JPY: 78.04 – 78.58

AUD/NZD: 1.0673–1.0708


AUD Thoughts

The AUD/USD pair extended its daily rally during the American trading hours and touched a daily high of 0.7592 before going into a consolidation phase. As of writing, the pair was up 0.85% on the day at 0.7585.


Expecting any dip in the AUD to be met with demand with the 0.7520/30 region likely to see interest initially.


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