Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
Because Boxing day fell on a Saturday, many countries are classing Monday 28 as a bank holiday; therefore, several trading markets will be closed. The equity markets in the UK, Canada, New Zealand and Australia will be closed. Markets in Germany, Italy and Japan will close on the last day of the year, while in […]
GBP pairs rose sharply during the New York trading session after rumours emerged that the UK and EU negotiating teams had finally (after 9 months) reached a compromise in their Brexit discussions. Analysts and traders are waiting for further detail of the 2,000-page agreement-document before confirming there’s a final deal to be signed preventing the
Sterling rises due to rumours of a Brexit agreement; US equity markets keep gains Read More »
Despite market optimism that the Pandemic Relief Bill was finally inching closer to becoming law, the leading US equity markets struggled to maintain the bullish momentum built up over recent weeks. Although the NASDAQ 100 printed a new record high during the New York session, the DJIA 30 traded down -0.67% and the SPX 500
Futures markets sold off sharply once markets opened on Sunday evening, early Monday morning. The cause of the broad-based sell-off was various. The UK had revealed a new variant and strain of the Covid virus earlier in the previous week. The country then announced Tier 4 restrictions on Sunday, resulting in its former EU partners
Equities slump before the US stages a recovery, gold experiences huge swings, GBP slumps Read More »
The UK pound is likely to come under intense scrutiny during the week leading up to the Xmas holidays. On Saturday, December 19, the UK prime minister announced that a vast area of the UK would enter a tier 4 system: the harshest Coronavirus lockdown criteria. London and the surrounding counties are now under legal
The main equity markets in the USA rose for the second day in series on Thursday to reach record highs in anticipation of the Pandemic Relief Bill finally getting approved. The USA is not experiencing any form of unified coronavirus lockdown, it varies state by state. But to all intents it’s business as usual in
SPX500 reaches a record high despite horrendous jobless data as USD slumps further Read More »
The Federal Reserve left interest rates unchanged at 0-0.25% during their December policy meeting. Jerome Powell The Fed chair announced the central bank would continue to buy $120 billion of bonds each month until they observe improvements in the US employment and inflation data. The Fed believe the US economy will shrink less in 2020
Fed leaves rates and policy unchanged, as US retail sales figures disappoint Read More »
Wall Street is now optimistic that the bipartisan Covid Relief Bill which would inject cash directly into the working and middle-class economy where it’s needed most will finally receive approval by Wednesday. Investors’ collective mood improved further after the Republican Senate leader, Mitch McConnell, congratulated Joe Biden on his election win, eventually drawing a line
USD came under pressure versus its main peers during Monday’s trading sessions, illustrated by the dollar index (DXY) trading down -0.29% on the day. At the same time, the leading US equity indices gave up their gains during the New York session as investors await a decision on the Pandemic Relief Bill. Investors are also
One of the significant macroeconomic issues currently dominating western markets looks as if it’s finally heading for a resolution while another appears set for a further extension. Pandemic Relief Bill will get agreed according to Democrats News emanating from USA news wires over the weekend suggested the Pandemic Relief Bill will be agreed in full
