Author: FX
Holiday-thinned liquidity did not stop FX drama, as traders juggled softer inflation, central bank twists, and fresh geopolitical tension, leaving the dollar modestly firmer while yen badly lagged. Source link
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It was a week in two parts as heavy selling hit markets to start the week as the post-FOMC slump continued. That turned around yesterday in part due to strong revenues from Micron and the bounce continued today. A lower US CPI also helped even if it was likely skewed by data collections problems due to the government shutdown.On net, for the week the S&P 500 finished the week virtually flat.On the day:S&P 500 +0.8%Nasdaq Comp +1.1%Russell 2000 +0.8%DJIA +0.3%Toronto TSX +1.2%Today was a strange day because it featured the largest options expiration in history — an estimated $7.1 trillion.…
Silver (XAG/USD) price rallies to a new all-time high of $67.46 even though US Treasury yields and the US Dollar remain firm on Friday, amid the lack of catalysts, except for the US Consumer Sentiment poll made by the University of Michigan, which showed that US households are trimming spending on durable goods, and are worried about the jobs market.XAG/ÜSD Price Analysis: Technical OutlookPrice action suggests further upside in Silver prices, as traders could target $68.00. Momentum is strongly bullish as depicted by the Relative Strength Index (RSI), which is overbought with an upward slope.Conversely, if XAG/USD slides below $67.00,…
Gold (XA/USD) surges during the North American session on Friday, up 0.30% despite rising US Treasury bond yields and of the US Dollar, which is poised to finish the week with modest gains of 0.25%. At the time of writing, XAU/USD trades at $4,344 after bouncing off daily lows of $4,309.Bullion advances late Friday despite rising US yields, steadier US DollarOn Friday, the US economic docket is scarce, as the last ‘formal’ trading week of the year comes to an end, as most trading desks get off for the Christmas holidays. The Consumer Sentiment Index by the University of Michigan…
US judge blocks Trump administration from altering homelessness funding conditions Source link
The US Dollar Index (DXY) is on a three-day winning streak, although gains are modest, the index is heading into the weekly close near the 98.60 price region, after a softer-than-expected United States (US) Consumer Price Index (CPI) was released on Thursday, briefly weighing on the US Dollar. Doubts about the quality of the inflation slowdown arose on Friday, following comments from Federal Reserve (Fed) John Williams, who noted that CPI data “may have been pushed down a bit” when speaking on CNBC. The Fed announced its monetary policy decision on Wednesday, and as expected, policymakers cut the interest rate…
The Japanese Yen (JPY) weakens sharply against the US Dollar (USD) on Friday as the Yen slumps across the board following the Bank of Japan’s interest rate decision. At the time of writing, USD/JPY is trading around 157.48, up nearly 1.20%, its highest level since November 21.Earlier in the Asian session, the BoJ raised its policy rate by 25 basis points (bps) to 0.75%, marking the highest level in roughly three decades. The central bank stated that Japan’s economy has continued to recover at a moderate pace, with tight labor market conditions and solid corporate profits supporting steady wage increases.…
GBP/USD drifts lower as UK data disappoints and Fed cautious tone caps upsideThe GBP/USD pair hovers around familiar levels, yet it has dropped below the 1.3400 mark on Friday after Retail Sales in the UK missed estimates and Federal Reserve (Fed) speakers crossed the wires. At the time of writing, the pair trades at around 1.3370, virtually unchanged. Read More…Pound Sterling trades firmly despite UK Retail Sales drop againThe Pound Sterling (GBP) trades higher against its major peers in Friday’s European session despite data from the United Kingdom (UK) showing that Retail Sales unexpectedly declined in November. Read More…GBP/USD steadies below 1.3400…
Price behaviour remains centred on the mid-structure pivot as the market searches for a resolution.Nasdaq March Futures (NQH) — Daily & Intraday Structure Desk UpdateLondon & New York | December 20Market ContextNasdaq March futures continue to trade within a well-defined structural framework, with both daily and intraday price action compressing around a central pivot. Rather than signalling directional commitment, recent sessions have been characterised by rotation and consolidation, keeping focus on acceptance and rejection at key reference levels as the New York session develops.Daily StructureOn the daily timeframe, price continues to hold above the 25,405 central pivot, following the earlier…