Forex Signals Brief for Dec 14: FOMC in Focus
Markets were mixed to end the trading week as equities put in their first negative result for a number of weeks.
US Market Wrap
Markets were mixed to end the trading week as equities put in their first negative result for a number of weeks.
The main news over the weekend was the Supreme Court throwing out the Texas lawsuit against the swing states as more details of the US election fraud continue to come to light. Clearly, without the backing of the Supreme Court, Trump now faces an uphill battle to make his case.
At the same time, sentiment could be improved by the news that the FDA has fast-tracked the COVID vaccine from Pfizer and will be rolling it out immediately. Despite 50% of the population not keen to be vaccinated, the news alone should be enough to lift the mood and suggests the crisis will be coming under control.
The Data Agenda
The main data point this week is likely going to be the FOMC as we await more details of the of their bond-buying program. At this stage, it is sitting at $80 billion per month and the odds are it is only going to be increased.
We will also be looking to data on US retail sales as well as the latest PMI results.
Elsewhere, Chine is due to release its latest industrial production data, while we will also get the latest decision from the SNB.
Forex Signal Update
The FX Leaders Team hit 9 winners from 14 for a 64% strike rate in what was ta solid performance from the guys. We have four open signals so look to the forex signals page for all the latest developments.
LTC – Active Signal
LTC is still under the $90 level but price is looking like it wants to have another attempt at that point. We remain long here.
USD/CAD – Active Signal
The USD/CAD has been falling thanks mostly to the soft USD. We’re short here, looking for more of the same this week.
Cryptocurrency Update
BTC remain bullish and like the other major coins is getting set for a run at the highs once again.
The record highs have been taken out recently, but the big one is still that $20,000 level.
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