Market volumes contract amid holiday schedule
The post Market volumes contract amid holiday schedule appeared on BitcoinEthereumNews.com.
Markets traded cautiously overall on the outset of the Christmas holiday week, with a slight step back in investor risk appetite. Market volumes are contracting ahead of the midweek shutdown, crimping trading hours and money market exposure across the board. RBA Meeting Minutes and Japanese Tokyo CPI inflation are the key data highlights this week. Here’s what you need to know heading into Tuesday, December 24: The US Dollar Index (DXY) rose slightly on Monday, continuing to battle the 108.00 handle as investor confidence took a step back to kick off the holiday trading week. The DXY is still holding onto territory near recent highs, with the Greenback index closing in the green for all but three of the last 11 trading sessions. Monday’s gain of around one quarter of one percent leaves bids on the high end of last week’s late pullback, but price action is still capped below that Friday’s peak of 108.50. EUR/USD turned lower once more on Monday, getting rejected from the 1.0450 level as markets struggle to find reasons to bid up the Fiber. Last week’s plunge on the back of the Federal Reserve’s (Fed) revised Summary of Economic Projections (SEP), or “dot plot” of interest rate expectations, showed that the Fed itself expects to deliver far fewer rate cuts in 2025 than markets initially expected. The Euro is getting pinned into the low end, and a lack of meaningful European data or appearances from European Central Bank (ECB) policymakers will keep EUR/USD action reactionary to US market themes. GBP/USD continues to grind out chart paper near 1.2550. The UK’s Gross Domestic Product (GDP) growth in the third quarter came in slightly below expectations, falling away from the second quarter’s already lackluster print. UK Q3 GDP printed at a flat 0.0% QoQ, below the expected…
Filed under: News - @ December 23, 2024 10:23 pm