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TRENDING: EURUSD| GBPUSD| XAUUSD| AUDUSD| USDCAD

TRENDING: EURUSD| GBPUSD| XAUUSD| AUDUSD| USDCAD
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EUR/USD EXTENDS CORRECTION BELOW 1.1000 AFTER WEAK PMI DATA

EUR/USD came under modest bearish pressure and declined to the 1.0950 area after
the data from Germany showed that the business activity in the private sector
contracted at an accelerating pace in early December. Eurozone and US PMI
surveys will be watched next.


RECOMMENDED

 * Forex Today: USD sell-off pauses for now, focus shifts to PMI surveys
 * EUR/USD Forecast: Euro corrective decline unlikely to deepen




EUR/USD News





GBP/USD CLINGS TO GAINS ABOVE 1.2750 AFTER UK PMI

GBP/USD trades modestly higher on the day above 1.2750 in the European session
on Friday. The data from the UK revealed an acceleration in the growth pace of
the private sector's economic activity, helping Pound Sterling stay resilient
against its rivals.


GBP/USD News




GOLD PRICE SEEMS POISED TO REGISTER WEEKLY GAINS AS POST-FOMC USD SELLING
REMAINS UNABATED

Gold price (XAU/USD) trades with a mild positive bias for the third successive
day on Friday, albeit lacks follow-through and remains below a one-and-half-week
high touched the previous day.


Gold News




XRP ANALYST PREDICTS MASSIVE RALLY TO $1.50 POST SPOT BITCOIN ETF APPROVAL AND
BTC HALVING

XRP Ledger’s native token XRP is likely to rally to a peak of $1.50 post the
bullish catalysts of 2024. Bitcoin’s upcoming halving event and the much
anticipated approval of Spot Bitcoin ETF are lined up for 2024.


Read more




FED EUPHORIA STARTS TO FADE AS WE HEAD INTO THE WEEKEND

After getting off to a strong start yesterday, with both the DAX and CAC 40
trading up at new record highs, European markets lost momentum after firstly the
Bank of England, and then the European Central Bank decided to play the Grinch
in contrast to the Fed’s Santa.


Read more




LATEST NEWS


 1.  GOLD MAINTAINS A POSITIVE TONE WITH THE DOLLAR WEIGHED DOWN BY FED’S PIVOT
     
     By Guillermo Alcala | 17 minutes ago


 2.  US DOLLAR INDEX TO FALL BY JUST UNDER 5% TO 97 IN 2024 – SOCGEN
     
     By FXStreet Insights Team | 21 minutes ago


 3.  ECB'S HOLZMANN: LIKELY INTEREST RATES HAVE REACHED THEIR PEAK
     
     By Eren Sengezer | 42 minutes ago


 4.  EUR/NOK: KRONE SET TO APPRECIATE MODERATELY IN 2024 AND 2025 – COMMERZBANK
     
     By FXStreet Insights Team | 44 minutes ago


 5.  XRP ANALYST SAYS MASSIVE PRICE RALLY TO $1.50 LIKELY POST SPOT BITCOIN ETF
     APPROVAL, BTC HALVING
     
     By Ekta Mourya | 58 minutes ago


 6.  US DOLLAR INDEX: 101 LOOKS THE NEAR-TERM TARGET – ING
     
     By FXStreet Insights Team | 10:03 GMT


 7.  EUR/GBP TO MOVE MODESTLY HIGHER IN THE COMING YEAR TO 0.89 – DANSKE BANK
     
     By FXStreet Insights Team | 09:37 GMT


 8.  UK PRELIMINARY SERVICES PMI JUMPS TO 52.7 IN DECEMBER VS. 51.0 EXPECTED
     
     By Dhwani Mehta | 09:33 GMT


 9.  INDIA GOLD PRICE TODAY: GOLD FALLS, ACCORDING TO MCX DATA
     
     By Dhwani Mehta | 09:20 GMT


 10. USD/CHF REMAINS DEPRESSED BELOW 0.8700 WITH US PMI DATA ON TAP
     
     By Guillermo Alcala | 09:18 GMT


 11. NZD/USD PRICE ANALYSIS: AIMS TO RETEST THE FIVE-MONTH HIGH, HOVERS AROUND
     0.6220
     
     By Akhtar Faruqui | 09:13 GMT


 12. EUR/CHF COULD QUITE EASILY REVERT TO 0.9650 OVER THE COMING WEEKS – ING
     
     By FXStreet Insights Team | 09:12 GMT


 13. EUROZONE PRELIMINARY MANUFACTURING PMI STEADIES AT 44.2 IN DECEMBER VS.
     44.6 EXPECTED
     
     By Dhwani Mehta | 09:03 GMT

More Latest News



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DEEPER DIVE




THREE CALLS FOR COMMODITY MARKETS

Despite more recent weakness in the oil market, a tight balance in the second
half of next year should see prices trade higher. Meanwhile, we expect Europe to
end the 2023/24 winter with comfortable gas storage. 




US COULD SOON SEE 2% INFLATION

At the recent FOMC press conference, Fed Powell said that the economy has “been
able to achieve pretty significant progress on inflation without seeing the kind
of increase in unemployment that has been very typical of rate hiking cycles
like this one”.




ANNUAL OUTLOOK: WEATHERING THE STORM

Despite the 525 bps of rate hikes that the Federal Open Market Committee has
implemented since March 2022, the U.S. economy generally remains resilient due,
in large part, to continued strength in consumer spending. 





FXS SIGNALS






TECHNICAL CONFLUENCES DETECTOR




GOLD’S PATH OF LEAST RESISTANCE APPEARS TO THE UPSIDE PREMIUM

Gold price is fluctuating between gains and losses while trading in a tight band
above the $1,930 level early Friday, as buyers pause to digest this week’s
positive developments heading toward the pre-Christmas lull next week.

Even so, Gold price is on track to book a weekly advance, snapping the previous
week’s sharp pullback from all-time highs of $2,144. The Asian side trend in the
Gold price can be attributed to a pause in the US Dollar sell-off, as the US
Treasury bond yields attempt a tepid bounce. The US Dollar also finds a floor,
as the Asian stocks pare early gains, gearing up for the release of the
preliminary PMI data from the US and the Eurozone, which will throw fresh
insights into the state of the global economy.


Read full report

Go to the Tool Page








CRYPTOCURRENCIES





BITCOIN INVESTORS MIGHT WITNESS “HYDRO BONDS” IN MONTENEGRO AFTER “VOLCANO BOND”
IN EL SALVADOR

The Prime Minister of Montenegro, Milojko Spajić, reportedly held a meeting with
JAN3 CEO Samson Maw, a hyberbitcoinization accelerator, to discuss Bitcoin
“hydro bonds”. Per reports, Spajić intends to leverage and take advantage of the
network of rivers in the country. 


More Bitcoin News



PEPE PRICE STUCK IN A RUT LOSES TO SOLANA MEMECOIN BONK AS LATTER’S MARKET CAP
TRIPLES IN 48 HOURS

PEPE price rallied considerably in Q2 when the meme coin was all the hype.
However, the emergence of BONK has diminished all the growth the former
witnessed. Furthermore, PEPE is witnessing an increase in the bearish sentiment,
which would pull the price lower.


More Pepe News




AXIE INFINITY PRICE COULD DROP 5% AS ATTENTION SHIFTS TO AXS KILLER, BEAM

Axie Infinity price is trading with a bullish bias, but the uptrend appears to
be running out of steam, indicated by the subdued RSI. Meanwhile, on the other
side of the fence, BEAM token, AXS’s peer in the gaming sector, seems to be
gaining traction, pointing to shifted focus as gaming enthusiasts chase the more
actionable market.  


More Axie Infinity News



SAFEMOON PRICE CRASHES BY 18% AS IT OFFICIALLY FILES FOR CHAPTER 7 BANKRUPTCY

SafeMoon price took the brunt on Friday after the company seemingly collapsed
and filed for bankruptcy. The filing came a little over a month and a half after
the US Department of Justice arrested key members of the company for defrauding
their customers for millions of dollars.


More SafeMoon News




THE STOCK OF THE DAY




DOW REACHES ALL-TIME HIGH, FINTECHS JUMP, AS FED KEEPS RATES THE SAME

The Dow Jones Industrial Average rose 512 points yesterday to hit an all-time
high of 37,090 while the S&P 500 rose 64 points to 4,707, closing in on its
record high of 4,796. The Nasdaq was also up 1.4% on Wednesday. The catalyst for
all three was the Federal Reserve’s decision not to raise interest rates for the
third straight meeting.







ECONOMIC CALENDAR


GMT
Event
Vol.
Actual
Consensus
Previous
Friday, Dec 15 24h
EUR EU leaders summit




10:00
EUR Trade Balance s.a.

€10.9B

€8.7B Revised from €9.2B
10:00
EUR Trade Balance n.s.a.

€11.1B

€10.0B
13:15
CAD Housing Starts s.a (YoY)


257.1K
274.7K
13:30
USD NY Empire State Manufacturing Index


2.0
9.1
13:30
CAD Foreign Portfolio Investment in Canadian Securities



$-15.09B
13:30
CAD Canadian Portfolio Investment in Foreign Securities



$11.6B
13:30
CAD Wholesale Sales (MoM)



0.4%
14:15
USD Industrial Production (MoM)


0.3%
-0.6%
14:15
USD Capacity Utilization


79.1%
78.9%
14:45
USD S&P Global Composite PMI



50.7
14:45
USD S&P Global Services PMI


50.6
50.8
14:45
USD S&P Global Manufacturing PMI


49.3
49.4




REAL-TIME RATES



Customize your rates







WEEKLY FORECAST




EUR/USD: US DOLLAR TURNS NORTH AS CENTRAL BANKS’ DECISIONS LOOM PREMIUM

The US Dollar turned north this past week, partially losing its pace on
Thursday, as speculative interest took a break ahead of the US employment
figures scheduled for Friday. On the contrary, the Euro remained on the back
foot as the economic future remains uncertain.


Read full analysis



GBP/USD: POUND STERLING BRACES FOR A BIG WEEK AHEAD PREMIUM

The Pound Sterling snapped a three-week uptrend against the United States Dollar
(USD), fuelling a GBP/USD correction to two-week lows below 1.2600. Traders gear
up for a central bank bonanza week, which could lead to a spike in volatility
for the pair.


Read full analysis



GOLD: XAU/USD BULLS TURN HESITANT AHEAD OF US INFLATION DATA, FED MEETING
PREMIUM

Following an impressive rally at the beginning of the week, Gold turned south
and snapped a three-week winning streak. As market focus shifts to next week’s
key data releases and central bank events, XAU/USD’s technical outlook points to
a loss of bullish momentum.


Read full analysis




BTC UPTREND CAPPED BY SUPPLY BARRIER AT $43,860 AS FOMO FAILS TO SUFFICE

Bitcoin (BTC) price uptrend has sustained since mid-September on the weekly
timeframe but has since slowed down following the lack of tailwinds to drive the
market. All along, narratives, themes and speculation were the driving factors,
inspiring a wave of fear of missing out (FOMO) in the market. As it turns out,
FOMO is not enough anymore.


Read full analysis



FX NEXT WEEK: RECESSION, NBER, TRADES

The NBER definition of Recession in found in Economic peaks and troughs. NBER
views peaks and troughs as cycles identified from Indicators as real personal
income less transfers (PILT), nonfarm payroll employment, real personal
consumption expenditures, wholesale-retail sales adjusted for price changes,
employment as measured by the household survey, and industrial production.


Read full analysis



WEEK AHEAD – WILL THE CENTRAL BANK BONANZA KILL THE FESTIVE JOY OR FUEL IT?

The Federal Reserve is almost certain to keep its policy rate unchanged on
Wednesday as the US economy finally appears to be losing some steam and
inflation is coming under control. Chair Powell has set the bar high for raising
rates again.


Read full analysis





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