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Currency Market Analysis

Dec 10, 2020 | Currency Market Analysis

Global Themes

USD gains as Facebook case hits markets

The USD was stronger overnight US shares plunge don news of an anti-trust investigation into technology giant Facebook.

The investigation would look into Facebook’s purchase of WhatsApp and Instagram.

The technology focused Nasdaq fell 2.2%.

GBP gains, but fears remain

The British pound was higher despite the fact no progress was made by Boris Johnson’s last-minute meeting in Brussels.

The euro was weaker ahead of tonight’s European Central Bank meeting.

The Australian dollar was higher across the board yesterday after a massive jump in consumer confidence pushed sentiment to the best levels in ten years.

ECB due

The main focus today is on the European Central Bank meeting with its policy statement due at 8.45pm.

The euro weakened overnight with markets worried the ECB might consider warning on the currency’s strength.

Also tonight, US inflation numbers are due at 9.30pm.

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