The Santa rally continued on Thursday with Asian markets closing higher and U.S. markets poised to open higher, despite thin seasonal trading.
The dollar struggled during Thursday’s Asian trading session, trading lower against most of its trading partners, perhaps prompted by a sell-off
Bitcoin prices were fluctuating between losses and gains on Wednesday, searching for direction as traders continued wondering whether the weeks-long rally has finally run its course.
Oil prices retreated on Wednesday from 2015 highs hit on Tuesday despite a supply disruption in Libya as production resumed on the Forties pipeline system in the North Sea on which cracks were discovered on December 11.
The US Dollar steadied in Tuesday trade, despite much of the developed world having closed financial markets due to Boxing Day celebrations.
Positive data out of Japan on Tuesday did little to move the markets as thin post-holiday trading continued, and traders seemed to relish their end-of-year vacation.
The generous holiday spirit wasn’t enough to keep the bitcoin bubble fully inflated, leaving some traders confused and others invoking the historic ‘I told you so’ rhetoric.
The Euro came under pressure against the US Dollar after the independence vote in Spain’s Catalan region showed a win for the separatist movement.
The US Dollar gained some momentum and edged up versus the Yen after the Bank of Japan dashed any belief that it would be throttling back from its QE program.
The African National Congress Party, the ruling party in South Africa, chose Cyril Ramaphosa to lead the party after President Jacob Zuma.
The US Dollar, which had earlier moved within striking distance of the recently struck 1-week peak versus the Japanese Yen, is now struggling for traction.
The Swedish Crown edged higher against the Euro after the country’s central bank signaled a number of rate hikes next year.
The price of bitcoin swung wildly on Wednesday morning after Coinbase, the largest bitcoin exchange in the United States, announced on Tuesday that it was now offering bitcoin cash.
The US Dollar came under pressure against the Euro on Tuesday as FX traders show their wariness over the passage of the US tax reform bill.
December holds great trading opportunities, but you don’t want to be trading in dead markets. Get updated with the holiday season trading schedule.