USD/CHF price action is subdued, as the US and Switzerland will feature monetary policy decisions by their central banks.
EURUSD has completed a decline wave to 1.0723. By now, the market has corrected to 1.0780. A consolidation range is forming under this level today. An escape from this range downwards to 1.0704 is expected. And with a breakout of this level downwards as well, the potential for a wave to 1.0626 could open. This is a local target.
The S&P 500 and Dow advanced to a new annual high on Monday, although gains were modest ahead of major market catalysts this week that include inflation readings and the Federal Reserve's policy announcement, which will shape investor expectations on the path of interest rates.
Nasdaq (Nasdaq: NDAQ) today announced the results of the annual reconstitution of the Nasdaq-100 Index® (Nasdaq: NDX), which will become effective prior to market open on Monday, December 18, 2023.
The gold price has been giving up much of its recent highs despite positive forecasts. The metal made its way steadily downwards after hitting an all-time high at $2,150 per ounce during the Monday trading session in Asia. Previously, asset prices dropped to support of $2,000, which made most analytics turn bearish. At the same time, retail investors try to keep their heads cool and remain bullish.
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This week will be entirely devoted to the activities of central banks, mainly centred around their strategic decisions on borrowing costs. Investors will undoubtedly require both resilience and composure.
Inflation is a crucial economic indicator that significantly influences financial markets and trading strategies.
U.S. stocks closed higher on Monday, with all three major indices reaching new highs for the year.
WCG Markets:2023-12-12
FP Markets, a global multi-asset broker announces sponsorship deal with ICC associate member Cricket Brasil to support its Youth Development Programme.
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
This article aims to unravel the intricacies of algorithmic trading, shedding light on its inner workings and exploring the advantages and challenges it presents.
Day trading and swing trading each offer unique opportunities and challenges.
While leverage can amplify returns, it must be used judiciously and in conjunction with effective risk management practices.
At the end of the Asian market on Monday (December 11), the employment situation report released by the US Department of Labor last Friday evening showed that the US non-farm payrolls was stronger than market expectations in November, and the unemployment rate also decreased by 0.2 percentage points.
Last Friday, unexpectedly strong non-farm payrolls data hit the market on the Fed's expectations for next year's interest rate cuts, U.S. bond yields rallied across the board. 10-year U.S. bond yields rose more than 10 basis points off the three-month lows, closing at 4.229%; more sensitive to the Fed's policy rate of the two-year U.S. bond yields closed at 4.723%, which was a new high in the month. The U.S. dollar index regained the 104 mark, eventually closing up 0.347% at 104.01.
Key Market Highlights and Forex Outlook for December 11, 2023
WCG Markets:2023-12-11
Non Farm Payrolls: Key Insights for Traders