MARKET UPDATE 27-Nov-18

The focus remains on the European markets….the Euro lost some ground against the US dollar giving up its earlier gains. This was after the European Central Bank president Mario Draghi acknowledged slowing growth in the region.

On the Brexit front, as per the deal secured with EU leaders yesterday, Britain will leave the bloc in March. However, the odds are high against it being approved by a divided British parliament.

Meanwhile in the US, investors will be focused on the upcoming speech by the Federal Reserve Chair Jerome Powell and their latest meeting minutes. They would be looking out for clues of how many more times the US central bank is going to hike interest rates. This is especially when the signs are there that the global growth may be slowing down.

FX Rates – 27.11.18

 

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