Today is the last trading day of the year and already we can see evidence that there is very little market participation this morning. Traditionally this can be the worst day of the year for retail forex traders as big market players’ start rebalancing their portfolios, and after such a turbulent 2016 it is only […]
Month: December 2016
The only remotely bit of economic data we had on the agenda yesterday was the US Pending home sales, and it was an absolute shocker. I suppose this should have been expected, but to many in the market this could be seen as validation as to what we can expect in 2017 and may be […]
Today’s reality is that you just need to walk down the street on any given day to see the extent to which social media has taken over our lives. Eyes and ears are glued to cell phones and tablets and, among the younger generation, social media has simply become part of the daily routine. Like […]
In what was already going to be a really quiet week, there was Boxing Day observance in many of the major trading centres yesterday and hence the reduced liquidity. With New Year over a weekend this year, I suspect that the markets will be even quieter this week with most traders only returning to their […]
The markets were eerily quiet yesterday, you could hear the tumbleweeds roll on through the major financial hubs as desks emptied out ahead of the holiday season. I expect reduced trading activity next week and the market to only get going again in January, and after a really tough 2016 you can’t begrudge traders from […]
As traders start preparing for the holiday week ahead so trading activity becomes more limited, I suspect that this may continue into the New Year. As we have got closer to Christmas weekend so all the pairs and instruments have become muted and ranges have got narrower. It seems as though price action is dominated […]
Opportunities may present themselves in Cable (GBPUSD) and USDCAD. It is evident that the liquidity is drying up and not too many forex traders want to carry big positions into the holidays. All quiet on the western front as they say!
Dean watching the commodity currencies for the most part today. Expect liquidity to be a little less as traders prepare for the holiday weekend so moves could be a bit exaggerated.
Dean’s Daily FX Update – 20 December 2016 In the Zone GBPUSD AUDUSD NZDUSD Noteworthy News First a Russian ambassador is shot and killed in Turkey and shortly afterwards a bus ploughs through a Christmas market in Berlin. This type of geopolitical risk often means traders climb into the USD. Recap Holiday trading can […]
The four commodity currencies we cover are on the radar today. The Fed rate decision last week hammered these forex pairs and so we are looking for a reaction in these (USDCAD, AUSUSD, NZDUSD and USDZAR). Be careful as the liquidity might be light leading into Christmas.