Forex Signals Brief for Dec 31: Markets Mixed into the End of the Year - Forex News by FX Leaders
Stocks Have Been Strong

Forex Signals Brief for Dec 31: Markets Mixed into the End of the Year

Posted Tuesday, December 31, 2019 by
Rowan Crosby • 2 min read

US Market Wrap

As markets ground their way into the end of the year, there were mixed leads and no real themes in US trade.

The SPX looked a little soft as profit-takers appeared to be taking their earnings off the table after what has been a strong year.

So far in 2019, US equity markets are up by nearly 30% compared to most other global markets, which are up around 20%.

WTI was one strong performer, on the back of the US-China trade talks looking like they will be signed off in the coming weeks, with the Chinese President to head to the US in the coming days to finalise the proceedings.

 

Today’s Agenda

There will be a number of markets that are having the day off, while most will have only half sessions.

There isn’t much data out at all, but we do have consumer confidence from the US. This is the December number and is expected to by ticking higher in a positive boost for sentiment.

Otherwise, there might be some finalising of positions on what is the final trading day of the year.

Have a great 2020 from the FX Leaders Team.

 

Forex Signal Update

The FX Leaders Team finished with 1 win from 2 signals with a nice trade in GOLD being the highlight.

 

USD/JPY – Pending Signal

The USD/JPY fell sharply from the 109.50 level as we’ve seen the risk-on trade causing some USD weakness. We are still hunting a rebound play here.

USD/JPY
USD/JPY – 240min.

 

EUR/JPY – Pending Signal

The EUR/JPY fell away form the 122.50 level, which is what we might expect this time of year. This might be an opportunity to buy the dip.

EUR/JPY
EUR/JPY – 240min.

 

Cryptocurrency Update

BTC continues to weaken, but little is really happening otherwise.

Price remains below the $7,600 level with buyers likely under $7,000. 

It’s been a rough year for Bitcoin and it could get worse in 2020. There is plenty of talk about a crypto-Yuan, which would be fully backed by the Chinese central bank, which raises questions about many digital currencies.

BTC
BTC – 240min.
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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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