UK voters are heading to the polls today

Daily Analysis - 12/12/2019

Election day for the UK

uk-election


Today Electors over the United Kingdom are going to vote today for a general election that is expected to form the foundations for the country's future. Prime Minister Boris Johnson and Conservative Party head is the main driver for this snap vote because of a parliamentary deadlock covering the Brexit agreement he had negotiated with the European Union. Johnson and his Conservative Party are intending to gain sufficient support to provide them with a majority in the 650-seat parliament that will allow them to reach their Brexit agreement, known as the “Withdrawal Agreement.” The prime minister has regularly announced a vote for his party suggests the ability to “get Brexit done.”

US stocks positive after Fed no rate cut policy


On Wednesday US Stocks finished lightly more powerful following the Federal Reserve indicated that it will probably not be going to increase the interest rates in 2020, eliminating the concern amongst investors that it would renew an error it made last year by hardening monetary policy early and beating the stock market down. The S&P 500 rose 0.3% to 3,141.62 and the Nasdaq improved 0.4% to 8,654.04.

The Dow Jones Industrial Average climbed more than 29 points, to end at 27,911.29.

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Spot gold was flat


On Thursday Gold prices shifted while investors expected to see if the United States would strike China with new taxes on Chinese goods this weekend. Spot gold was even at $1,474.70 per ounce, while US gold futures went up 0.3 % at $1,478 per ounce.

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The Greenback hit its lowest level in 30-days


The greenback is trying to recover from its steepest declines in weeks as the Federal Reserve indicates that it will continue to hold the interest rates constant through 2020. This lowered the desire for long positions in the popular currency. Investors were also worried ahead of Sunday’s deadline for a new series of US taxes on China, and a European Central Bank conference.

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