Bitcoin price remained in a consolidation mood during the Christmas weekend as traders waited for the next big news. The BTC/USD pair was trading at 43,450 on Tuesday, where it has been in the past few weeks.
Mexican Peso taps multi-month high in faltering broad-market Greenback selloff
The Mexican Peso (MXN) rallied to a fresh 15-week high on Friday as the broader market took one last opportunity to sell off the US Dollar (USD) heading into the extended holiday weekend before markets pared back on Greenback shorts heading towards the Friday closing bell.
Dollar under pressure as Santa’s rally continues on Wall Street
During Wednesday’s Asian session, Japan will release trade data. No change in interest rates is expected from China. The key report of the day will be the UK inflation figures. Later in the day, more US housing data is due, the Swiss National Bank will release the quarterly bulletin, and the Bank of Canada meeting minutes will be published. Santa’s rally on Wall Street will be watched closely.
Financial markets stabilize after central bank bonanza
Following the previous week’s highly volatile action amid major central banks’ monetary policy announcements, markets seem to have stabilized to start the new week.
Forex Today: Dollar tumbles on Fed’s pivot despite US economy still outperforming
In the last full week of 2023, volume will likely start to fade ahead of the holidays. However, the economic calendar shows many relevant events. Regarding central banks, the focus will be on comments from policymakers after a series of monetary policy meetings, including those of the Fed, the ECB, and the BOE. Next week, the Bank of Japan will have its meeting. The most important report form the US will be the core PCE.v
Forex Today: US inflation data to drive the action ahead of central bank meetings
The US Dollar struggles to find demand early Tuesday as markets await the Consumer Price Index (CPI) data for November. The US Dollar Index stays in negative territory below 104.00 after posting small gains on Monday. The European economic docket will feature ZEW business sentiment survey for Germany and the Eurozone.
Gold Price Rally Pauses But Not Likely Over
Gold remained in a positive zone above the $1,965 level. There was a steady increase above the $1,980 and $1,985 resistance levels to start a fresh rally.
China’s outstanding yuan funds for forex up in October
China’s outstanding yuan funds for forex up in October
Asia FX dips, dollar recovers as strong data fuels Fed uncertainty
Asia FX dips, dollar recovers as strong data fuels Fed uncertainty
Forint is likely to drift weaker in the near term, according to Commerzbank.
Hungary’s National Bank (MNB) will announce its monetary policy decision today. Economists at Commerzbank analyze Forint’s outlook ahead of the meeting. MNB to continue with rate corridor reduction amidst…