This is what you need to know to trade today Friday, December 24:
After closing the first three days of the week in negative territory, the US Dollar Index stabilized above 96.00 after US data showed that core PCE inflation rose at a stronger-than-average pace. expected in November. The major financial markets will be closed on Friday Christmas Eve and not much action is expected.
The US reported Thursday that Basic Personal Consumption Expenditures (PCE), the Fed’s preferred indicator of inflation, rose to 4.7% annually in November from 4.2%. This reading exceeded the market expectation of 4.5%. Other US data revealed that weekly initial jobless claims were unchanged at 205,000, new home sales increased 12.4% in November and durable goods orders increased 2.5% in the same period.
The EUR/USD It fell below 1.1300 in the American session on Thursday, but ended up closing the day practically unchanged at 1.1330. The pair is still on track to post weekly gains.
The GBP/USD gained bullish momentum this week on some positive Brexit headlines and easing concerns about additional coronavirus-related restrictions in the UK. The pair has risen more than 100 pips since the beginning of the week and appears to have settled above 1.3400.
The oro it tested $ 1800 with the initial reaction to US inflation data on Thursday, but had no difficulty staying above that level. The yield on 10-year US Treasuries was just shy of 1.5% on Thursday. The bond market will also close on Christmas Eve.
The USD/JPY it continues to trade sideways near the monthly high it set at 114.50.
Bitcoin it gained almost 5% and remains afloat above $ 50,000. Ethereum continues to trade near the upper limit of its 10-day range around $ 4,000.
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