ActivTrades’ Market Analysts have prepared for LeapRate their daily commentary on traditional markets for December 24, 2019. This is not a trading advice. See details below:
FOREX
The Pound’s losing streak continues, for the 8th consecutive session, as the market’s post-election hopes turn into apprehension. Many investors supported Sterling in the immediate aftermath of the election, driving it beyond $1.35, in the hope that a comfortable conservative majority would allow for a more constructive stance from Boris Johnson, in relation to the negotiation of a trade deal with the EU and of course the extension of the transition period.
However, the current prevailing market sentiment points at fears, that ultimately, come December 31st 2020, we may still be facing the scenario of an abrupt exit from the EU, without a trade deal; this is why the Pound is declining, as a new sense of reality slowly sinks in.
Ricardo Evangelista – Senior Analyst, ActivTrades