Author: FX

The GBP/USD pair has seen a modest rise to 1.2550, as low trading volume characterizes the market this week due to the upcoming Christmas holidays. The pair has been consolidating, with minimal price action as the market adjusts to a quiet holiday period. Similarly, the US Dollar Index (DXY) is largely flat, hovering above 108.00, showing no significant changes as traders await further economic data. Read More… The Pound Sterling (GBP) advances against its major peers on Tuesday. The British currency gains as investors largely ignore a mild increase in Bank of England’s (BoE) dovish bets for the next year. Traders see a 53-basis points (bps) interest…

The Atlanta Fed GDPNow growth estimate for Q4 growth comes in unchanged at 3.1%.In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2024 is 3.1 percent on December 24, unchanged from December 20 after rounding. After both the advance durable manufacturing report and the new home sales release from the US Census Bureau, the nowcast of fourth-quarter real gross private domestic investment growth increased from 1.2 percent to 1.3 percent.The next GDPNow update is Thursday, January 2. Please see the “Release Dates” tab below for a list of upcoming…

Manufacturing Activity: Remained in contractionary territory; composite index rose to -10 in December (from -14 in November). Est. -10Component Indexes:Shipments: -11 vs -12 last monthEmployment: -8 vs -10 last monthNew Orders: Improved to -11 vs -19 last monthLocal Business Conditions: Index improved to 0 (from -14); future local business conditions increased to 40 (from 31).Future Expectations: Future indexes for shipments and new orders moved further into positive territory, signaling expected improvements in the next six months. Six-month forward Shipments 41 versus 33Six-month forward new orders 43 versus 37 last monthVendor Lead Time: Index increased to 11 (from 4).Backlogs: Fewer firms…

Stock heatmap by FinViz.com Tue, 24 Dec 2024 14:46:15 GMT📈 Semiconductor Surge: Avago Shines BrightThe semiconductor sector is experiencing a strong upswing today, with Avago (AVGO) soaring by 2.99%. This boost contributes to a positive outlook within the sector, as other major players like Nvidia (NVDA) and AMD (AMD) show modest gains of 0.19% and 0.95%, respectively. The presence of green across major chip stocks hints at renewed investor optimism fueled perhaps by expectations of robust demand or favorable market conditions.🔍 Tech Sector: A Mixed BagThe broader technology sector is facing mixed results. Microsoft (MSFT) is down slightly by 0.14%,…

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…

EUR/USD is stuck in a tight range around 1.0400 amid thin trading volumes in a holiday-truncated week. ECB Lagarde said she is confident about inflation sustainably returning to the bank’s target of 2% sooner than previously thought. According to UBS, the Fed will deliver two interest rate cuts next year, in June and September.  EUR/USD stays sideways, following the footprints of the US Dollar (USD) in North American trading hours on Tuesday. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, oscillates in a tight range above the key support of 108.00 amid thin trading volume due…

Oil prices are rallying higher near 1%, with traders set to head into the Christmas holidays.  Markets are catching up on some headlines about further stimulus in China, one of the top global consumers.  The US Dollar Index trades just below its current two-year high as volatility winds down.  Crude Oil prices are trading higher on Tuesday with traders looking ahead to Christmas Eve rather than the release of the American Petroleum Institute (API). Even headlines of further stimulus in China are driving Oil prices higher in the US trading session: Chinese policymakers want to boost the economy with a 3…

The Pound Sterling tmoves higher in a light trading volume session amid holidays in global markets on account of Christmas Day. Fed policymakers see the fund rates heading to 3.9% by the end of 2025. Trades have fully priced in two interest rate cuts by the BoE next year. The Pound Sterling (GBP) advances against its major peers on Tuesday. The British currency gains as investors largely ignore a mild increase in Bank of England’s (BoE) dovish bets for the next year. Traders see a 53-basis points (bps) interest rate reduction in 2025, slightly up from 46 bps after the BoE policy announcement on…

USD/CAD consolidates around 1.4400 amid thin trading volume in a holiday-curtailed week. Fed policymakers see more than one interest rate cut in 2025. The BoC has guided a gradual policy-easing approach for the next year. The USD/CAD pair trades sideways around 1.4400 in Tuesday’s North American session. The Loonie pair consolidates as it follows the footprints of the US Dollar (USD), which is grappled with volatility contraction in a thin volume trading day due to the holiday-shortened week. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades lackluster above 108.00. The outlook of the…

The US Dollar trades flat and is unphased by headlines out of China about ramping up bond sales next year.  Chinese policymakers plan to sell a record 3 trillion yuan of special treasury bonds in 2025, the highest on record. The US Dollar Index (DXY) resides above 108.00, very close to eke out a fresh two-year high. The US Dollar (USD) trades with small gains on Tuesday, seeing the DXY Index trade slightly above 108.00, as markets are starting to unwind towards the Christmas holiday.  The Greenback failed to significantly move despite news that China’s policymakers are floating the idea of selling…