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TRENDING: EURUSD| GBPUSD| XAUUSD| AUDUSD| USDCAD

TRENDING: EURUSD| GBPUSD| XAUUSD| AUDUSD| USDCAD
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EUR/USD LOSES MOMENTUM BEFORE 1.1000, CONSOLIDATES GAINS AROUND 1.0970 PREMIUM

EUR/USD peaked at 1.0988 and pulled back modestly. It is hovering around 1.0970
holding firm to recent gains, supported by a weaker US Dollar across the board.
The Greenback stays under pressure amid falling US Treasury bond yields and risk
appetite.


RECOMMENDED

 * EUR/USD Forecast: Euro getting ready to test November highs above 1.1000




EUR/USD News





GBP/USD TRIMS GAINS AND SLIDES TOWARD 1.2700

GBP/USD reached levels above 1.2760 during Tuesday's American session but then
started to correct lower, approaching 1.2700, even as the US Dollar consolidated
its losses. Critical UK inflation data is scheduled to be released on Wednesday.


GBP/USD News




GOLD AIMS TO EXTEND GAINS BEYOND $2,050.00 PREMIUM

Following Monday's subdued action, Gold gained traction and rose above $2,040 in
the second half of the day on Tuesday. The benchmark 10-year US Treasury bond
yield stays on the back foot and closes in on 3.9%, helping XAU/USD gain
traction. 


Gold News




AVALANCHE-BASED MEME COIN COQ INU DISAVOWED BY CREATORS DESPITE A 487% RISE

Avalanche-based Coq Inu has joined the meme coin narrative, which has been an
on-and-off trend during which many names pop up and disappear. 


Read more




GLOBAL CENTRAL BANKS FOCUS IN 2024

As we wind down to the close of 2023, the Federal Reserve (Fed), European
Central Bank (ECB) and the Bank of England (BOE) announced their rate policy
decisions last week. As expected, all three have kept their respective benchmark
rates unchanged. 


Read more




LATEST NEWS


 1.  CRYPTOCURRENCIES PRICE PREDICTION: RIPPLE, AVALANCHE & CRYPTOS – AMERICAN
     WRAP 19 DECEMBER
     
     By FXStreet Team | 27 minutes ago


 2.  POUND STERLING PRICE NEWS AND FORECAST: GBP/USD REBOUNDS STRONGLY AMID FED
     RATE CUT SPECULATIONS
     
     By FXStreet Team | 31 minutes ago


 3.  XRP PRICE TETHERED AROUND $0.60 AS RIPPLE JOINS CRYPTO TITANS TO LAUNCH
     2024 ELECTION PLAY
     
     By Lockridge Okoth | 48 minutes ago


 4.  CANADIAN DOLLAR PUSHES HIGHER AGAINST THE US DOLLAR AFTER CANADIAN CPI
     PRINT BEATS EXPECATIONS
     
     By Joshua Gibson | 51 minutes ago


 5.  USD/CHF SINKS TO FRESH MULTI-MONTH LOWS NEAR 0.8600
     
     By Patricio Martín | 54 minutes ago


 6.  MEXICAN PESO WRAPS UP STRONGLY UPWARD AMID FALLING US YIELDS AND USD
     DOWNTURN
     
     By Christian Borjon Valencia | 19:38 GMT


 7.  EUR/USD LOOKING FOR 1.1000 AS RISK APPETITE SHRUGS OFF EUROZONE HICP
     INFLATION MISS
     
     By Joshua Gibson | 19:33 GMT


 8.  GBP/USD REBOUNDS STRONGLY AMID FED RATE CUT SPECULATIONS, RISES ABOVE
     1.2700
     
     By Christian Borjon Valencia | 19:07 GMT


 9.  US DOLLAR LOSES GROUND AS FED DOVISH BETS WEIGHS
     
     By Patricio Martín | 19:03 GMT


 10. FED’S BOSTIC: POLICY WILL NEED TO BE RESOLUTE AND PATIENT
     
     By Matías Salord | 18:06 GMT


 11. AVALANCHE-BASED MEME COIN COQ INU DISAVOWED BY CREATORS DESPITE A 487% RISE
     
     By Aaryamann Shrivastava | 17:22 GMT


 12. GOLD PRICE FORECAST: XAU/USD SURGE AS FED RATE CUT EXPECTATIONS WEAKEN US
     DOLLAR
     
     By Christian Borjon Valencia | 16:45 GMT


 13. AUD/USD RISES ON HAWKISH RBA DECEMBER MINUTES
     
     By Patricio Martín | 16:04 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




XAU/USD AIMS TO EXTEND GAINS BEYOND $2,050.00 PREMIUM

Gold trades with a better tone on Tuesday, helped by the broad US Dollar's
weakness. XAU/USD changes hands around $2,0403, approaching the high posted last
week at $2,047.90. The positive tone of equities reflects persistent risk
appetite, undermining demand for the American currency. Wall Street extends
weekly gains, with the Nasdaq Composite reaching record highs for a third
consecutive session, in line with central banks-inspired relief.

Adding pressure on the USD, Treasury yields resumed their slides. The 10-year
government bond offers 3.90% at the time being, its lowest since late in July,
while the 2-year note yields 4.43%, holding near the multi-month low posted last
week at  4.28% and down 2 basis points (bps) on the day.


Read full report

Go to the Tool Page








CRYPTOCURRENCIES





RIPPLE JOINS CRYPTO FIRMS IN $78 MILLION INITIATIVE TO SUPPORT PRO-CRYPTO
CANDIDATES IN US ELECTIONS

Ripple CEO Brad Garlinghouse announced the firm’s decision to support pro-crypto
candidates in the 2024 US election cycle. Garlinghouse criticized the US SEC for
regulatory overreach and stated the need for advancement towards responsible
regulation. 


More Ripple News



INJECTIVE PRICE HITS NEW ALL-TIME HIGH AT $39.97, INJ SUSTAINS UPTREND DESPITE
PROFIT-TAKING

Injective (INJ), the Artificial Intelligence (AI) finance blockchain, hit a new
all-time high on Tuesday, with INJ price hitting $39.97. Injective negatively
correlates with the largest asset by market capitalization, while Bitcoin price
traded sideways last week, INJ rallied, yielding nearly 64% weekly gains.


More Cryptocurrencies News




BITCOIN PRICE COULD CLIMB TO $45,000, ALONGSIDE UPDATES IN SPOT BITCOIN ETF
FILING BY BLACKROCK

Bitcoin price rally to $45,000 is likely with the recent updates in Spot Bitcoin
ETF applications. The anticipation surrounding Spot Bitcoin ETF has increased as
BlackRock amended its application, filing a registration statement ahead of the
new product offering.


More Bitcoin News



CARDANO COULD RALLY 14% TO $0.70 AS TVL HOLDS ABOVE $425 MILLION

Cardano’s Total Value Locked held above the $425 million mark early on Tuesday,
easing slightly from the all-time high from December 14. The asset, considered
Ethereum killer, yielded 11% weekly gains for holders.


More Cardano News




THE STOCK OF THE DAY




STOCKS ARE AT NEW HIGHS, BUT SOME BIG NAMES FAIL TO RALLY

The S&P 500 index gained 0.45% on Monday as it further extended its last week’s
advances. The daily high was at 4,749.52 yesterday, and the index was the
highest since January of 2022. 







ECONOMIC CALENDAR


GMT
Event
Vol.
Actual
Consensus
Previous
Tuesday, Dec 19 13:30
USD Housing Starts (MoM)

1.560M
1.360M
1.359M Revised from 1.372M
13:55
USD Redbook Index (YoY)

3.6%

3.4%
n/a
NZD GDT Price Index

2.3%

1.6%
21:00
USD Net Long-Term TIC Flows


$45.8B
$-1.7B
21:00
USD Total Net TIC Flows



$-67.4B
21:00
NZD ANZ – Roy Morgan Consumer Confidence



91.9
21:30
USD API Weekly Crude Oil Stock



-2.349M
23:50
JPY Exports (YoY)


1.5%
1.6%
23:50
JPY Imports (YoY)


-8.6%
-12.5%
23:50
JPY Adjusted Merchandise Trade Balance



¥-462B
23:50
JPY Merchandise Trade Balance Total


¥-962.4B
¥-662.5B
Wednesday, Dec 20 00:00
AUD Westpac Leading Index (MoM)



-0.03%
01:15
CNY PBoC Interest Rate Decision


3.45%
3.45%




REAL-TIME RATES



Customize your rates







WEEKLY FORECAST




WEEKLY FOCUS: CENTRAL BANKERS BOOST CHRISTMAS SPIRIT

Repricing continued in the rates markets this week as central bankers did little
to talk rates back up. The market is currently pricing in the US short-term
rates to fall below 4% by end of next year. In euro area, short-term rates are
priced to approach the 2% mark late next year. Optimism about rate cuts arriving
sooner rather than later has driven long-term rates lower and equities higher. 


Read full analysis



RATES SPARK: ALREADY OVERSHOOTING TO THE DOWNSIDE

What a week it's been. Central bank anticipation first. Then, evidence of a
holiday party at the Fed. Followed by failed attempts from Frankfurt and London
to poop that party. But there's no stopping this one. Everything is getting
bought in a one-way market. We know we can't simply extrapolate the last few
days endlessly. But leaving the party early is tough.


Read full analysis



SOMETHING DOESN’T FEEL RIGHT

The European Central Bank (ECB) and the Bank of England (BoE) refused to join
the Federal Reserve (Fed)-thrown pivot party. Both Christine Lagarde and Andrew
Bailey declined to discuss cutting interest rates judging a policy loosening too
early as the inflation threat looms.


Read full analysis




BITCOIN: BTC COOL-OFF PREPARES MARKETS FOR CRYPTO’S FINAL TWO WEEKS OF 2023

Bitcoin (BTC) price has shown resilience in December, resisting selling pressure
coming from a weekly supply barrier. It comes as traders exercise patience,
resisting the urge to book profits and looking at the bigger picture as 2024 has
multiple bullish catalysts lined up for Bitcoin.


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 – BOJ MEETS FOR THE LAST TIME IN 2023, US CORE PCE AND UK CPIS ALSO
ON TAP

Following a barrage of central bank decisions this week the end credits of major
monetary policy decisions for 2023 will roll with the BoJ during the Asian
session Tuesday. At their last meeting, policymakers decided to allow 10-year
JGB yields to rise above 1%. However, they did not ditch the cap. They just
redefined it from a rigid ceiling to a reference bound, meaning they could
intervene in the bond market again if deemed necessary. 


Read full analysis





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