View our guide on how to interpret the FX Dashboard.
*Note that there will not be any Market Briefs published during Christmas Week – we will return to our regular publication schedule in the New Year.*
- The Bank of England and Bank of Japan made no changes to monetary policy, as widely expected. BOE policymakers voted 7-2 in favor of leaving interest rates and asset purchases unchanged, opting to wait for more clarity on Brexit before tweaking policy. The GBP was the weakest major currency pair on the day.
- Sweden’s Riksbank raised interest rates 0.25% back to 0%, though this news did little to support the SEK.
- General risk-on sentiment boosted the AUD to the pole position as today’s strongest major currency.
- In second-tier US data, both the existing home sales report and initial jobless claims reports came out a tick worse than expected.
- Commodities: Oil and gold both edged about 0.5% higher on the day. Bitcoin consolidated yesterday’s big bullish reversal.
- US indices closed roughly 0.5% higher to hit another round of record highs, with the S&P 500 cracking 3200 for the first time ever. It was another mixed day for European equities, with Germany’s DAX edging lower while the UK FTSE 100 traded higher on the day.
- REITs (XLRE) were the strongest major sector on the day; Energy (XLE) brought up the rear.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.