Markets remain calm overall, and traders continue to look forward to trade rhetoric, with one eye already focused on the end of the year holidays.
This is probably the last normal trading week for the calendar year, so I expect a lot of position rebalancing and liquidity management.
The pound remains weak as it loses its momentum gained at the end of the election. The latest Brexit news also doesn't help the local currency. Dip-buyers have joined the market to soften the fall of the pound and it is now trying to stay above 1.3300, but the price is falling slightly against the dollar.
At the same time, the Aussie is also showing some weakness after the RBA report, and the AUD / USD repulsion from the 200 periodic daily chart still proves to be a key factor in limiting last week's momentum.
Looking ahead, there is enough economic news in number and strength that will breathe life into the markets right from the start. Major US stock indexes are at new historical values and show no signs of slowing down. It seems that there will be a Santa Rally and any short-term correction of the low graphics will allow intraday traders to get on the train.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.