In the commodity market, oil prices have declined on Tuesday, as sentiment is damaged by a surging number of COVID cases and the introduction of new restrictions. WTI is down 0.57%, and Brent has lost 0.70%. Both brands declined by around 1% yesterday.
Gold continues to recover as investors are waiting for more stimulus from the US government. Futures on the metal are up 0.40% to $1,873. Last week, the metal broke below $1,800 for the first time since July, as the vaccine optimism supported an interest in risk assets.
In FX, the US dollar is recovering on the same stimulus expectations, but the American currency is still close to the lowest level in over 2 years. The USD Index is up 0.08% to 90.850. EUR/USD is still up 0.09% to 1.2115.
The British pound has lost over 0.20% against both the USD and the euro, as the UK and the EU still haven’t reached a consensus on the three contentious issues hindering a trade deal between the two. UK Prime Minister Boris Johnson will go to Brussels to meet European Commission President Ursula von der Leyen in person.
By Strategy Desk
