Forex Signals Brief for Dec 18: UK Retail Sales Ahead
Rowan Crosby • 2 min read
US Market Wrap
Markets were slightly higher yesterday, but it really just looked like the normal ebb and flow.
The main event was really the BOE and the board voted unanimously to keep rates on hold. However, they suggested the outlook wasn’t good in the short-term as the country is also battling to move the Brexit deal forward.
While there were more headlines about stimulus talks, this is little more than page filler at the moment. The falling USD is a reflection of what lies ahead if Biden gains control and markets are positioning themselves accordingly.
The Data Agenda
We are back to the UK to start the new trading day with UK retail sales the key focus early on.
Interestingly, there has been a clear Government push to encourage people not to visit bricks and mortar businesses which is no doubt an economy and business killer.
Later on, we also get the latest retail sales data out of Canada as well. While the EUR/USD will be looking towards the latest German business climate, which won’t be great as the country goes into another lockdown.
Forex Signal Update
The FX Leaders Team hit 4 winners from 5 signals yesterday, as the guys found a few nice trades throughout the session.
Make sure you follow our live signals as volatility could increase as we head into the weekend.
LTC – Active Signal
LTC surged as high as the $110 level on the back of Bitcoin making record highs. The sector is strong and we remain long here.
AUD/USD – Active Signal
The AUD/USD has made another leg higher through the 0.7600 level and is very strong. We remain long here.
The bull run in BTC continued yesterday as price pushed nearly as high as $24,000.
For the time being, we must be bullish, but we do already have long exposure here via the LiteCoin trade.