Forex Signals Brief for Dec 15: UK Employment in Focus
Rowan Crosby • 2 min read
US Market Wrap
Equity markets were mixed on Monday with vaccine news clearly meaning little at the moment as mass lockdowns continue to stifle the economic recovery.
With the FDA fast-tracking the COVID vaccine, on the surface, the move would appear to be one that would boost sentiment. However, the issues for markets remain in place, with world leaders intent on increasing lockdowns and destroying businesses in the process.
Ironically, risk currencies continue to push higher, thanks largely to the weakness in the USD. With the turmoil in the US election, it is clear that this could be the end of the Greenback which could lead to more upside ahead for the majors.
The Data Agenda
Today’s data will focus on the UK in what is going to be an ugly set of numbers. Jobs data is the main release today and it will show that the jobless rate has climbed to 5.1%, with claims also jumping to 50K. While the overall loss of jobs will spike to -250k for October.
None of this is surprising as we see Boris Johnson doing his best to shut down the economy and we are hearing that Germany is now set to do the same over Christmas.
In the US, data is thin with only second-tier numbers to be released including industrial production.
Forex Signal Update
The FX Leaders Team hit 3 winners from 4 signals yesterday, as the guys started the week with a few nice trades.
Keep watching the forex signals page as there could be plenty of action given the newsflow at the moment.
LTC – Active Signal
LTC is holding under the $85 level but price has made a nice higher low. We remain bullish here are we should expect more upside ahead.
Silver – Active Signal
SILVER has been coiling around the $24 level for some time now and hasn’t really seen the upside that we might have expected. As such, we are short here looking for a fall.
BTC continues to creep higher and higher thanks to strong sentiment towards the entire crypto sector at the moment and the ongoing distrust of monetary policy.
Technically, price has made a higher low and looks to be getting ready for a run at the $20,000 level in the days ahead.