There was a flurry of activity as the year 2020 draws to a close, as agreements were reached between the EU and UK on Brexit, and Congress approved a fiscal stimulus package. The upcoming holiday week is light on data, and the currency markets are likely to be calm as investors and traders eye the New Year, which is just around the corner. The Brexit talks went down to the wire, but in the end, the European Union and UK finally hammered out an agreement on Thursday, just before the UK leaves the bloc on December 31st. There were fears that a deal might not be reached, which triggered losses for the pound earlier in the week. UK Final GDP for the second quarter was revised upwardly to 16.0%, up from 15.5%. This was a sharp rebound from the Q2 release of -19.8%. In Canada, GDP has been slowing since hitting 6.5% in June, and economic growth came in at just 0.4% in October. This edged above the consensus estimate of 0.3%. Has the Canadian economy run out of steam? In the US, Congress approved a massive stimulus package, but President Trump has thrown a monkey wrench in the process, saying he will veto the bill unless stimulus payments are substantially increased. US Final GDP for the third quarter was revised upwards to 33.4%, up from 33.1%. Despite this strong gain, the US economy remains below pre-pandemic levels. Further reading: EUR/USD forecast – for everything related to the euro. USD/JPY forecast – projections for dollar/yen AUD/USD forecast – predictions for the Aussie dollar. USD/CAD forecast – Canadian dollar analysis Forex weekly forecast – Outlook for the major events of the week. Safe trading! Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher MajorsUS Dollar ForecastWeekly Forex Forecasts share Read Next GBP/USD: Bulls keep 1.3600 on radar, EU-UK parliamentary voting on Brexit deal in focus FX Street 2 years There was a flurry of activity as the year 2020 draws to a close, as agreements were reached between the EU and UK on Brexit, and Congress approved a fiscal stimulus package. The upcoming holiday week is light on data, and the currency markets are likely to be calm as investors and traders eye the New Year, which is just around the corner. The Brexit talks went down to the wire, but in the end, the European Union and UK finally hammered out an agreement on Thursday, just before the UK leaves the bloc on December 31st. There were fears… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
