Forex Today: Markets in Christmas mode

FXStreet Team FXStreet

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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FXStreet Team

FXStreet

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.