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Major Pairs Trapped in Tight Ranges on the Last Day of 2021

This is what you need to know to trade today Friday, December 31:

Following the choppy market action on Thursday, the major pairs remain quiet as we approach 2022. No macroeconomic data will be released on New Year’s Eve, but the US equity markets will be open. US bond markets will close early.

Hours earlier, data from China showed that business activity in the private sector expanded at a modest rate in December. The NBS Manufacturing PMI rose to 50.3 from 50.1 in November and the Non-Manufacturing PMI rose to 52.7 from 52.3.

The S&P 500 and the Dow Jones Industrial Average posted small losses Thursday and US equity futures fell 0.15% to 0.12% at the start of the European session on Friday. The 10-year US Treasury yield remains above 1.5% after Thursday’s sharp correction.

The number of confirmed coronavirus cases continues to rise at an unprecedented rate, but the hospitalization rate remains relatively low, easing concerns about the possible negative impact on global economic activity.

The EUR/USD It gained traction early in the US session on Thursday, but lost its momentum after climbing above 1.1350 and closed in negative territory. The pair is moving sideways slightly above 1.1300 today.

The GBP/USD it hit its highest level since late November at 1.3522 on Thursday and appears to have entered a consolidation phase around 1.3500 on Friday.

The USD/JPY It lost its bullish momentum amid falling US Treasury yields and was trading in a tight range near 115.00 on Friday.

The oro posted strong daily gains after recovering $ 1,800 and appears to be ending the year on a firm footing. At time of writing, the XAU / USD was up modestly on the day at $ 1,818.

The Bitcoin It is moving up and down in a tight range after falling below $ 50,000 earlier in the week. The Ethereum It extends its sideways move near $ 3,700, but is losing 8% weekly.

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