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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 189390, member: 32345"] [B]Date : 24th December 2020. FX News Today | 24 December 2020.[/B] [IMG alt="[IMG]"]https://analysis.hotforex.com/wp-content/uploads/2020/08/daily-market-update-696x364.png[/IMG] Wall Street rallied overnight, despite some disappointing US data. Stimulus hopes and the rollout of Covid-19 vaccines supported the market. [B]Energy, financials and healthcare sectors outperformed,[/B] while tech issues lagged. Core European bourses were higher, with the [B]GER30[/B] up 1.26%, and the [B]UK100[/B] underperforming, adding 0.66%, though held back by a firmer [B]Pound[/B]. Treasury yields climbed amid bearish momentum from European bonds. Thinning holiday conditions exacerbated the moves and the break of key levels added to the selloff. [B]Gilts led a sell off in EGBs amid[/B] [B]rumors that the UK and the EU are getting close to a post-Brexit trade deal.[/B] With Europe still firmly in the grip of Covid-19, the chance to avoid a disruptive no-deal scenario clearly would be extremely helpful, although even with an agreement no-tariff trade barriers will go up at the start of next year, which will add to an already difficult situation. [B]UK, EU press conferences likely expected today. The timing on press conferences may slip by a couple of hours.[/B] [IMG alt="[IMG]"]https://analysis.hotforex.com/wp-content/uploads/2020/12/2020-12-24_10-47-24-1024x551.png[/IMG] [LIST] [*][B]EUR – [/B]stabilized at 1.22 [*][B]GBP[/B]– spiked top 1.3570 a breath below R1 [*][B]JPY – [/B]in a triangle at 103.55. PP at 103.50 and R1 103.70 [*][B]CAD – [/B]gains ground again amid risk appetite and Us inventories – currently at 1.2847 [*][B]AUD –[/B]Currently at 0.7590 [*][B]GOLD [/B]– gains some ground to to $1879 high level [*][B]USOil [/B]– climbs to 48.60 as US inventory draw, Brexit deal hopes boost risk appetite [/LIST] [B]Today – [/B]Nearly all stock markets have an early closed for the extended Christmas weekend and there are no key data releases until January 4, with Brexit and virus developments the only topics to interest investors until then. Only Tokyo inflation tonight. [B]Biggest (FX) Mover [/B]– [B]GBPCHF[/B] (0.61% as of 09:50 GMT) – It rallied to R1 to 1.2058. Fast MAs and BB still point upwards while the asset manage to break yesterday’s peak. Technical indicators hold positive, however they are also flat suggesting a potential consolidation H1 ATR 0.00174, Daily ATR 0.01315 [IMG alt="[IMG]"]https://analysis.hotforex.com/wp-content/uploads/2020/12/2020-12-24_09-56-29.png[/IMG] [B]Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report.[/B] Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. [B]Andria Pichidi Market Analyst HotForex Disclaimer:[/B] This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission. [/QUOTE]
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