The EUR/USD appears to be advancing in a strong short-term uptrend
Jason Lubin December 23, 2020 11:00 PM
If price retreats look to the 20-day simple moving average for support. Share:
The US Dollar was bearish against all of its major pairs on Wednesday. On the US economic data front, the Mortgage Bankers Association s Mortgage Applications rose 0.8% for the week ending December 18th, compared to +1.1% in the week before. Durable Goods Orders increased 0.9% on month in the November preliminary reading (+0.6% expected), compared to a revised +1.8% in the October final reading. Initial Jobless Claims dropped to 803K for the week ending December 19th (880K expected), from a revised 892K in prior week. Continuing Claims unexpectedly fell to 5,337K for the week ending December 12th (5,560K expected), from a revised 5,507K in the previous we
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Dec 23, 2020 13:12 GMTFXStreet News
USD/CHF is consolidating Tuesday’s gains, stays calm around 0.8900.
Broad USD weakness limits USD/CHF’s downside on Wednesday.
Investors await US data and SNB’s Quarterly Bulletin.
The USD/CHF registered its highest daily close in two weeks at 0.8896 on Tuesday and went into a consolidation phase as investors wait for the macroeconomic data releases from the US ahead of the Christmas holiday. As of writing, the pair was moving sideways near 0.8900.
Attention turns to US data
The broad-based USD strength helped USD/CHF push higher earlier in the week. The lack of progress in the UK-EU trade negotiations and renewed coronavirus fears helped the greenback find demand as a safe-haven. After gaining 0.7% on Tuesday, however, the US Dollar Index lost its traction and was last seen losing 0.27% at 90.40.
Dec 23, 2020 14:02 GMTFXStreet News
AUD/USD is edging higher following Tuesday’s sharp drop.
US Dollar Index stays in the negative territory ahead of US data.
Risk flows dominate financial markets in light pre-holiday trading.
The AUD/USD pair staged a rebound on Wednesday after starting the week on the back foot and rose to a daily high of 0.7577 during the European trading hours. Although the pair retreated modestly from this level, it’s still up 0.53% on the day at 0.7560.
Earlier in the day, the data published by the Australian Bureau of Statistics showed that Import surged by 11% and Exports increased by 1% in November but these figures had little to no impact on the AUD’s performance against its peers.
12/18/2020 6:01:31 PM GMT
XAU/USD capitalized on persistent USD weakness this week.
FOMC s dovish tone and risk-positive mood weighed on the greenback.
100-day SMA at $1,905 aligns as key resistance.
XAU/USD pair climbed to its highest level in a month at $1,896 on Thursday as the selling pressure surrounding the greenback intensified throughout the week. Although the pair lost its bullish momentum on Friday, it settled around 1,880 and still ended up gaining more than 2% on a weekly basis.
What happened last week
The coronavirus vaccine rollout, Brexit optimism and heightened hopes for a US stimulus bill caused risk flows to dominate the financial markets and continued to hurt the greenback. Mirroring the broad-based USD weakness, the US Dollar Index, which tracks the buck’s performance against a basket of six major currencies, broke below 90 for the first time since April 2018. In the meantime, The S&P 500 and the Nasdaq Composite both notched new all-time highs in the se