US Market Wrap

Markets were mixed in trade yesterday as a lack of data and headlines reduced volatility.

The main story at the moment continues to be the scare campaign coming out of the UK surrounding the new strain of COVID. However, the CDC has since come out and suggested there is no evidence that it is any different.

The USD looks like it is finally finding some degree of support around that 90.00 level on the US Dollar Index, however, we did see a big spike in the VIX earlier in the week, which suggests markets could see some larger moves in the days ahead.

The Data Agenda

The main data point on the agenda today is once again US jobless claims.

This has been a number that has seen a bit of a spike of recent times. We saw this pushing down to 800K before it rebounded to 900K in the last few weeks.

Elsewhere, Canada will be releasing its latest GDP numbers, while the US will also have more homes sales data.

Later in the session, WTI will get the latest set of inventory data. Price is pushing back towards that $50 level, after bouncing back from the November lows.

Forex Signal Update

The FX Leaders Team grabbed the one win on our EUR/USD signal as the Greenback starts to hold up.

Make sure you follow our live signals as volatility could increase as we head into the holidays.

LTC – Active Signal 

LTC has rebounded back above the $110 level as the entire sector bounces off the recent lows. We remain long.

USD/JPY – Active Signal

The USD/JPY continues to be very soft, thanks to money flowing out of the USD and into safe-havens. This is something that will likely accelerate if Biden comes to power as he will likely look to raise taxes. We are short here.

Cryptocurrency Update

BTC and the entire sector has seen some buying in recent days and price looks like it is about to retest the $24,000 level.

It’s hard to be anything but bullish at the moment, in what feels like 2017 all over again.