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The EUR/USD went into the weekend near the 1.03080 mark, this briefly testing a low around the 1.02235 ratio on Thursday while thin trading conditions prevailed.
The past week of trading in Coffee Arabica saw relatively calm highs of nearly 330.90 on Thursday, which were preceded by lows around 313.25 on Tuesday – a price not seen since the first week of December.
WTI Crude Oil put in a week of gains and the price of the commodity actually came within eyesight of the 74.000 USD ratio on Friday, but in rather lightly traded markets that are suspect.
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The GBP/USD finished the week near the 1.25700 level, as the lower range of the currency pair continues to see plenty of tests and nervous sentiment appears to be creating headwinds.
The holiday week sees a quiet Forex market favouring the US Dollar and punishing commodity currencies, while stock markets advance before taking a knock at the end of the week.
Markets show mixed activity with Gold holding an uptrend, currency pairs staying range-bound, Bitcoin faltering, and indices subdued amid holiday trading.
This past Friday WTI Crude Oil finished the week within eyesight of the 70.000 USD mark, but the closing price of nearly 69.875 was close to the previous week’s close of 69.500.
A hawkish pivot on rate cuts by the US Federal Reserve sent stock markets tumbling, while commodity currencies were hard hit in the Forex market.
The EUR/USD went into this weekend within sight of 1.04300, which may be considered a good achievement after having a hit a low around the 1.03400 mark on late Wednesday and once again Friday.
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Comprehensive weekly insights on Gold, Forex pairs, NASDAQ, WTI Crude, and DAX, focusing on key trends, support levels, and market movements.
WTI Crude Oil went into the weekend near the 69.500 USD mark, this as a two week stretch of holiday trading is looking speculators in the eyes as they decide if they want to participate.
Markets were dominated by bullishness in US tech stocks last week, and renewed strength in the US Dollar, while commodity currencies weakened.
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The WTI crude oil price stabilized last week even as concerns about more supplies and weak demand remain.
A weekly analysis of silver, gold, forex pairs, and commodities highlights USD dominance, ECB rate cuts, and key levels for WTI crude and NASDAQ.
The EUR/USD notched a second weekly decline in a row after the European Central Bank (ECB) slashed interest rates and the US published the November inflation data on Wednesday.