GBP Up, AUD/USD Price May Fall with Stocks. Brazil Election Eyed

Asia Pacific Market Open – GBP/USD, Brexit, Brazil Election, AUD/USD, Nikkei 225

  • British Pound prices soared amidst Brexit latest as USD gains took a breather for now
  • Emerging markets, local stocks eye outcome of first round of Brazil’s presidential vote
  • AUD/USD may fall with stocks in APAC trade while pro-risk Japanese Yen appreciates

We just released our 4Q forecasts for currencies like the Japanese Yen in the DailyFX Trading Guides page

On Friday, the British Pound extended pronounced gains against its major counterparts for a second day in a row. Initially, Sterling was buoyed by reports that a Brexit deal is ‘very close’ amidst an offer from the EU for a free-trade deal. The details of the proposal will be presented by EU Chief Negotiator Michael Barnier this Wednesday.

Additional GBP’s gain could be attributed to a pullback in the US Dollar on a rather mixed jobs report as unemployment fell but total hires missed expectations. Adding more downside pressure to the US Dollar, relatively speaking, was a somewhat solid jobs report out of Canada. The country added 63.3k employees in September which

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2018/10/07/GBP-Up-AUDUSD-Price-May-Fall-with-Stocks-Brazil-Election-Eyed.html