Market reviews

Forex

Dollar sinks across the board

In European trading, major currencies remained in positive territory, except for the Swiss franc. Topping the leaderboard was the New Zealand dollar (+0.85%), while the pound sterling (+0.80%) came in second place.

30 December 12:00

EURUSD: euro hovers in narrowing price range

The EURUSD pair ended in decline on Thursday, December 24, slipping 0.03% to 1.2179. Market participants was focused on the endgame of UK-EU trade talks. The GBPUSD pair rose to 1.3619 on expectations that a last-minute trade deal would be struck. The dollar edged higher after the deal was clinched. All European and North American trading floors were closed on Friday in observance of the Christmas holiday.

28 December 12:30

EURUSD: Brexit news calls the shots in European session

The EURUSD pair traded slightly higher on Thursday, December 23, with the pair gaining 0.18% to 1.2183. The euro slipped to 1.2160, but rebounded swiftly, retracing to the intraday high at 1.2221 (+99 pips). The spike higher was attributable to a rally in sterling, which strengthened by 168 pips against the dollar to 1.3570. This weakened the US currency and paved the way for gains in other major currencies.

24 December 11:00

EURUSD: market sees heightened volatility ahead of Christmas

The EURUSD pair posted a decline on Tuesday, December 22, down 0.65% to 1.2161. During the European session, the price rose to 1.2257, from which it fell to 1.2152 (-105 pips).

23 December 11:21

EURUSD: bulls bridged Monday morning gap

The EURUSD pair opened to the downside on Monday, December 21. The dollar moved higher across the FX market on news from the UK. The rapid spread of a new coronavirus strain in the UK combined with a hard lockdown in Southeast England prompted investors to seek refuge in the dollar. During the European session, EURUSD fell back to 1.2130, while GBPUSD slipped to 1.3188. By the end of the session, the single currency pared all losses and closed the morning gap. In the upshot, the euro recovered to 1.2253 (+123 pips).

22 December 11:00

EURUSD: UK news boosts the greenback

Major currencies closed the week higher. The steepest gains against the US dollar were shown by the British pound (+2.30%). The Australian dollar rose 1.19%, the euro 1.18%, the Swiss franc 0.75%, the New Zealand dollar 0.73% and the Japanese yen 0.63%. Topping the losers board was the Canadian dollar, down 0.10%.

21 December 11:09

EURUSD: risk of correction shaping up

The EURUSD pair rose 0.57% to 1.2266 Thursday, December 17. The single currency drew support from euro crosses right up until the close. Demand for risk assets remained high amid expectations that a post-Brexit trade deal could be signed before long, as well as the approval of a new $908 bln coronavirus relief bill for US businesses and households.

18 December 11:26

EURUSD: buyers still have legs

The EURUSD pair saw growth on Wednesday, December 16, with volatility still running high on the FX market. At the beginning of the European session, the euro was supported by strong manufacturing and services sectors PMIs in Germany and the Eurozone for November. The readings turned out to be significantly higher than the projected indicators, strengthening optimism about the acceleration of economic recovery in the region. The British pound retraced to its intraday high amid expectations that a last-minute Brexit deal could be reached.

17 December 11:09

EURUSD: bulls aim to extend gains

EURUSD closed slightly higher on Tuesday, December 15, with the euro ticking up 0.06% to 1.2150. Trading was volatile and the price action remained in the range 1.2122-1.2177.

16 December 11:09

EURUSD: euro stabilizes at balance line

The EURUSD pair locked in gains on Monday, December 14, rising 0.28% to 1.2143 on the day. The euro gapped higher at the opening amid the extension of UK-EU Brexit talks.

15 December 11:09

EURUSD: euro tracks sterling higher

Most major currencies closed the week higher. The steepest rise against the US dollar was shown by the Australian dollar (+1.42%). Other top currencies included the New Zealand dollar (+0.69%), the Swiss franc (+0.25%), the Japanese yen (+0.20%), and the Canadian dollar (+0.11%). Only the British pound (-1.57%) and the euro (-0.09%) ended in decline.

14 December 10:41

EURUSD: buyers target 1.2178 resistance

The EURUSD pair trended higher on Thursday, December 10, with the euro rising 0.46% against the dollar to 1.2134. The price action started heading north right after the European Central Bank (ECB) announced the results of its December meeting.

11 December 11:09

EURUSD: buyers pare losses on cross support

The EURUSD pair slipped 0.19% to 1.2078 on Wednesday, December 9. The price rose to 1.2147 during the Asian session. The single currency came under pressure after the European opening. Selling resumed on the back of Brexit news. The UK removed controversial provisions in the Internal Market Bill, which exerted a positive impact on sterling as investors again saw a glimmer of hope for a trade deal between the UK and the EU.

10 December 11:00

EURUSD: buyers target breakout at 1.2177

The EURUSD pair was little changed on Tuesday, December 8, with the euro dipping 0.04% against the greenback to 1.2101. The pair was rangebound at 1.2095-1.2134. The euro tapped support from the EURGBP cross on the back of Brexit news ahead of the North American session.

9 December 11:07

EURUSD: price stabilizes near balance line

The EURUSD pair closed in decline on Monday, December 7, down 0.13% against the dollar to 1.2106. High market volatility was seen during the European session on the heels of Brexit news. The pound shed nearly 2% and dragged other currencies down with it.

8 December 10:49