Forex Today: Markets in Christmas mode
|Here is what you need to know on Tuesday, December 24th:
- Most markets will remain closed this Wednesday amid the Christmas holidays. In Asia, only Japan will be active.
- Trading was dull, with the greenback ending the day mostly lower against its major rivals. US November Durable Goods Orders surprised to the downside, plummeting 2.0% when compared to a month earlier, well below the expected 1.5% advance. The core reading posted a modest 0.1% advance, also missing the market’s forecast.
- The Pound was the weakest pressured by mounting fears of a hard-Brexit. Irish PM Varadkar indicated that the Prime Minister is embarking on a “harder Brexit than we anticipated.”
- Wall Street continued rallying, with US indexes reaching fresh all-time highs.
- US Treasury yields held in higher ground and posted modest intraday gains.
- Crude oil prices recovered within range amid the dollar’s weakness. Gold was also higher, hitting a 2-week high of 1,486.15 and holding nearby.
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