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.
Holiday cheer? More like trading fear! December’s thin markets & wild swings test even the bravest. Opportunities abound, but tread lightly. Choose rest or risk, just manage it well. Festive spirit, wise decisions, happy trades! Wishing you a season of peace, good health, and continued success in the New Year. Thank you for being a part of our journey. Merry Christmas!
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!
With 2023 drawing to a close, holiday cheer isn’t the only thing filling the air for Forex traders. The Western holiday season, centered around Christmas and New Year, can significantly impact market schedules and behavior. While December and January offer exciting trading opportunities, navigating low liquidity and volatility periods is crucial.
With 2023 drawing to a close, holiday cheer isn’t the only thing filling the air for Forex traders. The Western holiday season, centered around Christmas and New Year, can significantly impact market schedules and behavior. While December and January offer exciting trading opportunities, navigating low liquidity and volatility periods is crucial.
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.
