XE Market Analysis: North America – Nov 18, 2020

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The dollar continued to soften. While there has been evident caution after recent strong gains in world stock markets, markets have remained buoyant, with Europe’s Stoxx 600 lifting towards yesterday’s eight-month, S&P 500 E-mini futures gaining 0.3%. Asian markets were mostly higher, though Japan’s Nikkei closed lower and Chinese markets were flat. Australia’s ASX index scaled to a new eight-month peak. Commodities also rallied, particularly metals, with aluminium prices, for instance, extending recent solid gains in posting the highest levels seen since late 2018.