Forex market reviews

Market sessions

09:48 (GMT+3)

On Monday the 10th of December, the euro dropped to 1.1352 against the dollar. This movement was facilitated by both technical and fundamental factors. The euro dragged the pound down with it, which plummeted against the dollar by 250 pips. The pound’s collapse was brought about by UK Prime Minister Theresa May’s decision to delay the parliamentary vote on her Brexit deal, which was scheduled for the 11th of December. The Prime Minister’s opponents have labelled her decision as cowardly.

Market sessions

Roberto d'Ambrosio

19:14 (GMT+3)

US stocks spend a week deep in the red as bonds send a warning sign on future of US economy

A week deep in the red for US markets, new pressure on China following Huawei CFO's arrest in Canada, and bonds send a warning sign on the future path of the US economy.

Market sessions

Tomasz Wisniewski

17:44 (GMT+3)

NZD keeps up the good work

One of the best-performing currencies among the G10 in the last few weeks is NZD. I am going to use the example of the NZDUSD to show you how well the Kiwi is doing. The pair was rising even amid global turmoil, and it should be quite the opposite given that NZD tends to make most of its gains in risk OFF mode. Not anymore.

Metals: gold and silver

Tomasz Wisniewski

17:33 (GMT+3)

Gold finally breaks the crucial resistance

I will start this analysis by telling you that in the past few months, the movements on gold have been a bit, let's say, weird. Gold is not behaving as it has been over the past few years. The correlation between the USD and the risk ON/OFF mode seems broken. Gold is following its own path. Luckily, technical analysis works in any situation and this is what we will focus on now.

Cryptocurrencies

Tomasz Wisniewski

16:59 (GMT+3)

Bitcoin: this year will end differently than in 2017

Time to deal with bitcoin again. I last mentioned this instrument on the 19th of November, when the price was slightly above 5,200 USD. We had a fresh sell signal after the breakout of the 6,000 USD support. Our analysis was spot on, the price fell like a rock! It has now been almost a month. Has anything changed here?

Market sessions

Matthew Anthony

10:19 (GMT+3)

EURUSD: pair poised to drop from the upper line of the channel

The majors showed mixed dynamics against the greenback last week. The Aussie shed 1.50%, while the Kiwi, loonie, and pound lost 0.31%, 0.27%, and 0.15% respectively. Posting an increase against the US dollar were the Swiss franc (+0.93%), the yen (+0.68%), and the euro (+0.66%).