This is what you need to know to trade today Friday, December 11.
The US dollar remains under pressure despite mixed market sentiment. Diminishing chances of a US stimulus and a Brexit deal are weighing on the markets somewhat, with gold retreating. On the other hand, currencies related to commodities expanded their gains, led by the jump in oil prices. US consumer sentiment stands out on the economic calendar.
American stimulus: Senate Majority Leader Mitch McConnel gave a cold response to a new proposal from Treasury Secretary Steven Mnuchin and a bipartisan bill, diminishing the chances of a deal. The move comes despite a jump in jobless claims to 853,000. Talks in Washington continue before the holidays.
The Preliminary Index of Consumer Sentiment from University of Michigan for December it will show similar figures to the 76.9 points in November, which was below the previous months. The survey comes as the US reported another day with more than 3,000 COVID deaths and hospitalizations hit new records.
See: University of Michigan Consumer Sentiment Preview for December: For Once, Consumer Attitude May Not Matter
Vaccine 1: An advisory panel from the US Food and Drug Administration recommends approving Pfizer / BioNTech’s coronavirus immunization, paving the way for authorization and use. The expected green light follows the Canadian and UK stamps of approval.
Vaccine 2: Sanofi and GSK have announced that they will delay the launch of their candidate vaccine as they strive to improve the immune response in the elderly.
Brexi; UK Prime Minister Boris Johnson said a no-deal Brexit is now a “great possibility” as negotiations continue ahead of Sunday’s deadline. The EU publishes contingency plans in case the transition period expires at the end of the year without an agreement.
In the UK, London, Kent and Essex have all achieved high incidence rates of the coronavirus, raising expectations that the capital will enter Level 3 restrictions next week.
COVID-19 cases and deaths in Germany they have reached a new record for this wave. Europe’s largest country is ready to tighten restrictions before Christmas. France is modifying some of its lockdown rules, but maintains the national lockdown while infections stopped decreasing.
The European Central Bank added 500,000 million euros to its bond purchase plan, which will run until March 2022. ECB President Christine Lagarde said that if conditions improve, the bank could refrain from using the full amount.
See: ECB Announcement Analysis: Lagarde Shows Love of Markets and Euro, Higher Gain Likely for EUR / USD
The language on the exchange rate was unchanged, allowing the euro to rise. EU leaders approved the bloc’s multi-year budget after settling a dispute with Hungary and Poland.
The crude petróleo WTI he’s consolidating his earnings close to $ 47. Commodity currencies were positive on Thursday and have been extending their gains on Friday. The AUD/USD is firmly above 0.75 and the USD / CAD is approaching 1.27.
The cryptocurrencies They are on the defensive, with Bitcoin trading below $ 18,000.
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