Author: FX

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GBP/USD slips slightly as holiday-thinned markets keep trading subduedThe British Pound (GBP) softens against the US Dollar (USD) on Wednesday, with the Greenback finding mild support amid reduced liquidity during the shortened US holiday session. At the time of writing, GBP/USD trades around 1.3500, easing slightly after briefly touching an intraday high near 1.3534, its strongest level since September 19. Read More…Pound Sterling outperforms US Dollar amid firm Fed dovish bets for 2026The Pound Sterling (GBP) revisits the three-month high around 1.3535 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair trades firmly as the Greenback underperforms, with unexpectedly stronger…

Sector OverviewIn today’s market snapshot, the overall sentiment appears cautious with the technology sector exhibiting minor declines. Notably, Nvidia (NVDA) has slipped by 0.64%, leading the sector’s retreat. Meanwhile, Oracle (ORCL) marked a decrease of 0.38%.Conversely, the consumer cyclical sector offered a beacon of positivity, with Tesla (TSLA) gaining 0.76%. The consumer defensive sector, including stalwart Walmart (WMT) and Costco (COST), also showed slight upward movements, up by 0.25% and 0.67% respectively.Market Mood and TrendsThe day’s market mood reflects a mixed bag, heavily characterized by sector-specific dynamics rather than an overarching market trend. The modest downturn in tech, particularly among…

Nvidia (NVDA) is trading around $189, attempting to bounce from its brutal December selloff, but the technical picture reveals a more concerning story than the price action alone suggests. The semiconductor giant is now trapped within a descending channel that began at the November highs near $212, with multiple layers of resistance overhead threatening to cap any recovery attempt. Now the question is: Can NVDA break free from its bearish channel structure and reclaim $195, or will the combination of overhead resistance and extreme overbought momentum send the stock spiraling back toward $170? NVDA (Nvidia): 4-Hour Chart Trend and Structure…

Rivian Automotive (RIVN), the electric vehicle manufacturer focused on adventure-oriented trucks and SUVs, has staged an impressive comeback from its December lows. But the real test for bulls lies directly ahead, where three distinct resistance levels are now stacked like hurdles on a track.Trading at $21.38 after pulling back 2.62% today, RIVN finds itself in an intriguing spot. The stock has climbed roughly 65% from its mid-December base around $12-13, a rally that’s caught the attention of momentum traders and EV enthusiasts alike. What strikes me here is the clarity of the resistance structure overhead—three well-defined levels that tell us…

Oklo Inc. (OKLO) has become a favorite for investors looking to play the intersection of advanced nuclear technology and the massive power demands of AI data centers. Their fast fission reactors are a compelling story, but the fundamental timeline remains a major hurdle. As of today, Oklo has zero operational plants. Furthermore, management doesn’t expect to have a plant online until late 2027 or early 2028. This leaves the company with a multi-year gap where no continuous revenue is being generated, making the stock highly sensitive to technical shifts and market sentiment.When we look at the daily chart, the technical…

Silver (XAG/USD) trades around $72.05 on Wednesday at the time of writing, up 0.70% on the day. The white metal extends its bullish momentum for a fourth straight day and reached a fresh all-time high at $72.71 earlier in the day, highlighting sustained investor appetite for precious metals.Expectations of an accommodative monetary policy from the Federal Reserve (Fed) remain a key driver. According to the CME FedWatch tool, markets see more than a 70% chance of cumulative interest rate cuts of at least 50 basis points by 2026. These expectations contrast with the Fed’s official projections, as the latest dot…

West Texas Intermediate (WTI) Crude Oil trades little changed on Wednesday as markets slip into holiday mode, with prices hovering near two-week highs amid thin liquidity. The US benchmark remains underpinned by rising tensions between the United States and Venezuela, which have added a modest geopolitical risk premium. At the time of writing, WTI is trading around $58.33 per barrel, pausing after a three-day advance.From a technical perspective, the daily chart points to a modest recovery in WTI, with prices reclaiming the 21-day Simple Moving Average (SMA) near $58.04. Buyers re-emerged last week after prices revisited the psychological $55 level,…

There were 214,000 Initial Jobless Claims in the week ending December 20, a decrease of 10,000 from the previous week’s unrevised level, the US Department of Labor (DOL) reported on Wednesday. This reading came in better than the market expectation of 223,000.In this period, the 4-week moving average declined by 750 to 216,750.”The advance number for seasonally adjusted insured unemployment during the week ending December 13 was 1,923,000, an increase of 38,000 from the previous week’s revised level,” the DOL noted in its press release.Market reactionThe US Dollar Index showed no immediate reaction to this report and was last seen…

Prior week 224K revised to 224KThe 4-week moving average was 216,750, a decrease of 750 from the previous week’s unrevised average of 217,500Continuing claims 1.923M vs 1.900 estimate. Prior week 1.897M revised to 1.885MThe 4-week moving average was 1,893,750, a decrease of 5,250 from the previous week’s revised average. The previous week’s average was revised down by 3,000 from 1,902,000 to 1,899,000. Initial jobless claims track the weekly number of Americans filing for unemployment benefits for the first time and are one of the most timely indicators of U.S. labor-market health and overall economic momentum. Rising claims can signal increasing…