What you need to take care of on Friday, December 30:
The US Dollar fell on Thursday, with the decline exacerbated by thin market conditions. Sentiment led the way throughout the day, with Chinese headlines triggering different market reactions. On Wednesday, financial markets were on alert after Italy reported that roughly 50% of the passengers of two flights arriving in Milan on Wednesday tested positive for COVID-19, and several western nations rushed to impose control on Chinese travelers, fearing the spread of a new strain. However, mid-European morning Italy reported they found no new covid variants in the aforementioned tests.
The mood improved ahead of the US opening, with Wall Street posting substantial gains. Nevertheless, growth and inflation concerns remain in the background. US Treasury yields were up at the shorter end of the curve, while the 10-year note yield shed 4 bps.
The EUR/USD pair peaked at 1.0689, holding on to gains ahead of the Asian opening. GBP/USD hovers around 1.2060, with Pound gains limited amid strikes going on in the United Kingdom. The 1,000 members of the Public and Commercial Services Union (PCS) are striking for four days until New Year’s Eve.
Commodity-linked currencies advanced vs their American rival. AUD/USD trades in teh 0.6780 price zone, while USD/CAD is down to 1.3540.
The Japanese yen appreciated amid the broad US Dollar weakness and news that the Bank of Japan conducted two unplanned bond purchase operations.
Spot gold edged marginally higher and finished the day at around %1,816 a troy ounce. Crude oil price weakened at the beginning of the day but trimmed most of its losses ahead of the close. WTI trades at around $78.30 a barrel
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
USD/JPY holds positive ground around 151.50 following Japanese CPI data
The USD/JPY pair holds positive ground for the second consecutive day near 151.45 on Friday during the early Asian trading hours. The cautious approach from the Bank of Japan to keep monetary conditions accommodative exerts some selling pressure on the Japanese Yen.
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales
Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.