Asian stocks held steady in early trading even as investors continued focusing on the ongoing supply chain challenges. Many ports are seeing a significant increase in cargo volumes, leading many to start worrying about delays. Sadly, analysts expect that the situation will get worse in the near term. For example, last week, Dubai, a leading handler of cargo announced that it was pausing air cargo in its main airport. Meanwhile, there is a likelihood that Joe Biden’s measures to speed port logistics will not solve the situation soon. Therefore, the impact of these delays is higher costs for businesses and consumers and more delays. 

US futures made some modest gains as investors focused on the ongoing earnings season. Last week, some of the key companies that released their results were Blackrock, JP Morgan, Morgan Stanley, and Citigroup. Most of these companies published strong results, with Goldman Sachs being the best performer. The season will continue this week. Some of the top companies that analysts will be focusing on this week are Netflix, Philip Morris, State Street, Johnson & Johnson, Synchrony Financial, and Procter & Gamble. 

Cryptocurrency prices rallied during the weekend as investors waited for a statement by the Securities and Exchange Commission (SEC) about Bitcoin ETF. The agency must deliver a verdict today on whether it will accept an ETF proposal by ProShares. Analysts expect that the agency will allow the company to go on with its ETF. That could also apply to other companies that have expressed interest of launching their funds like Ark Invest and Invesco. These fund managers could also launch other cryptocurrency funds. Still, there are worries that cryptocurrency prices will drop as investors sell the news.


The EURUSD pair was little changed in early trading as the market reflected on the latest China GDP data. The pair is trading at 1.1600, the same range it has been for the past two trading days. The price is also along with the 25-day moving average while oscillators like the MACD and DeMarker are at the neutral level. Therefore, the pair will likely remain in this range today since there is no major economic data scheduled from the US and the EU.



The GBPUSD pair held steady in early trading. It rose to a high of 1.3750, which was the highest level on September 20th. The pair has also moved above the upper side of the ascending channel. On the four-hour chart, it has also moved above the 25-day and 50-day moving averages while the MACD and the Relative Strength Index (RSI) have rallied. Therefore, the pair will likely keep rising as bulls target the key resistance at 1.3900.



The NZDUSD pair maintained a bullish trend on Monday. The pair rose to a multi-week high of 0.7070, substantially higher than September’s low of 0.6857. On the four-hour chart, the pair rose above the Ichimoku cloud and the short and longer moving averages. It is also above the dots of the Parabolic SAR indicator. The path of least resistance for the pair is to the upside.


General Risk Warning for FX & CFD Trading. FX & CFDs are leveraged products. Trading in FX & CFDs related to foreign exchange, commodities, financial indices and other underlying variables, carry a high level of risk and can result in the loss of all of your investment. As such, FX & CFDs may not be appropriate for all investors. You should not invest money that you cannot afford to lose. Before deciding to trade, you should become aware of all the risks associated with FX & CFD trading, and seek advice from an independent and suitably licensed financial advisor. Under no circumstances shall we have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to FX or CFDs or (b) any direct, indirect, special, consequential or incidental damages whatsoever.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD retreats below 1.1300 area as NFP-inspired dollar weakness fades

EUR/USD jumped to a daily high of 1.1333 with the initial market reaction to the disappointing November Nonfarm Payrolls data but quickly returned below 1.1300. Rising US Treasury bond yields seem to be helping the dollar stay resilient against its major rivals. 


GBP/USDdrops to 1.3250 area as dollar regains strength

GBP/USD spiked above 1.3300 in the early American session with the initial market reaction to the gloomy US November jobs report. However, the greenback regathered strength on hawkish Fed commentary and forced the pair to turn south.


Gold struggles to capitalize on weak NFP data, holds near $1,770

Gold spiked to a daily high near $1,780 with the initial market reaction to the disappointing Nonfarm Payrolls data from the US but seems to be having a difficult time preserving its bullish momentum with the 10-year US T-bond yield staying resilient.

Gold News

The bull and the bear case for BTC

Bitcoin price saw a bullish impulse that faced massive headwinds before it tagged a crucial psychological barrier. Bitcoin is likely to experience massive volatility as the situation resolves over time. 

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!