What you need to know on Friday, December 31:
Major pairs held within familiar levels Thursday, trading choppy amid weakened market conditions. Most financial markets will be closed on Fridays, in the middle of the New Year’s holiday. Wall Street will operate normally, while the bond markets will close earlier. The market is likely to remain choppy.
The macroeconomic calendar will remain empty throughout Friday, although China will release official PMIs for December.
Coronavirus infections continue to increase to record cases. Italy reported 126,000 new infections, Spain 161,000.
The EUR / USD pair is trading a few pips above the 1.1300 level, while the GBP / USD managed to reach a new monthly high of 1.3521. The loonie was the strongest as the USD / CAD fell to the 1.2740 price zone. The AUD / USD pair, on the other hand, found sellers for the second day in a row around 0.7275. USD / JPY remained positive, trading around 115.10.
Crude oil consolidated its gains, while gold prices rose, and both remained within familiar levels.
Wall Street rose, with the S&P hitting all-time highs. Yields on US Treasuries held close to Thursday’s high, with the 10-year Treasury yield currently at 1.52%.
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