AUD/USD and EUR/USD inch lower as traders await key data releases next week. Mixed sentiment across major currencies as China and eurozone inflation figures take center stage. Risk appetite weighs on major currencies ahead of economic data from China and the eurozone.

Here are the market forecast for major cryptocurrencies this December 27-28, 2023.

Canadian loonie wins again, bagging a second straight week of gains despite flat GDP. US inflation cools, potentially paving the way for Fed cuts, boosting the loonie further. UK pound takes a breather on holiday with mixed economic signals. BoE likely sticking to “higher for longer” rates despite recession risk.

The Euro is benefiting from a risk-on sentiment and anticipation of central bank easing, while the Yen is holding steady despite hints of a future policy change by the BoJ.

Friday’s data releases, particularly the US PCE price index, are likely to drive movement in all three currencies. Stay tuned for updates and potential shifts in market sentiment.

EURUSD has more upside potential in the short term due to hawkish ECB and bullish market expectations. GBPUSD remains highly dependent on relative US and UK economic performance. Both trades require active risk management and close monitoring of economic developments

Long for BTC, ETH, Oil, Gold; short for XRP. Here are the details for today’s analysis!

Global political events and oil prices remain tightly intertwined. BoJ no-hike disappoints hawks, oil correction continues. Canadian inflation heats up, CAD strengthens. Technical setups offer potential trading opportunities.

The Canadian dollar (CAD) is hovering near its four-month peak against the US dollar, buoyed by rising oil prices and bets on potential interest rate cuts in 2024. However, the upcoming Canadian Consumer Price Index (CPI) report on December 20th could throw a wrench in the works.

The Bank of Japan (BoJ) kept key rates unchanged today, but signaled a possible shift in policy by adopting a flexible upper bound for long-term rates. This reflects their revised inflation outlook, expecting it to top 2% in 2023 and 2024.