Summary
In this exclusive Monthly Webinar Nenad will focus on fundamental facts and major news releases which can affect the movement of the price and how to trade those movements. The first part of the webinar will explain major fundamental facts and news data which traders should be paying attention to during trading hours. You can register here to attentd the second Premium part.Latest Live Videos
Editors’ Picks
AUD/USD bulls remain on the sidelines after Aussie PMIs
AUD/USD trades with a negative bias for the fourth consecutive day on Tuesday, as recent mixed Australian labour market data and renewed concerns about the health of the Chinese economy undermine the Aussie amid a softer risk tone. However, the RBA's hawkish tilt and data showing a continuous expansion in Australia's business activity in December support the pair amid a weaker US Dollar, led by bets for more rate cuts by the Fed. Traders now look to the delayed US NFP report for some impetus.
USD/JPY weakens to near 155.00 amid BoJ rate hike bets, US data awaited
The USD/JPY pair loses traction to around 155.10 during the early Asian session on Tuesday. The Japanese Yen edges higher against the US Dollar amid the expectation that the Bank of Japan will raise interest rates at the upcoming policy meeting on Friday. Traders will closely monitor key US economic data, including Nonfarm Payrolls, Retail Sales, and Purchasing Managers Index, which are due later on Tuesday.
Gold holds gains above $4,300 on prospect of further Fed rate cuts
Gold price extends its upside to around $4,305, the highest since October 21, during the early Asian trading hours on Tuesday. The precious metal edges higher on further US Federal Reserve cut bets. The US Nonfarm Payrolls report will take center stage later on Tuesday. Also, the US Retail Sales and Purchasing Managers Index will be published.
Ethereum: BitMine acquires 102,259 ETH as price plunges 5%
Ethereum treasury company BitMine Immersion scaled up its digital asset stash last week after acquiring 102,259 ETH since its last update. The purchase has increased the company's holdings to 3.96 million ETH, worth about $11.82 billion. BitMine aims to accumulate 5% of ETH's circulating supply.
NFP preview: Complex data release will determine if Fed was right to cut rates
The long wait is over, and the Bureau of Labor Statistics in the US will release nonfarm payrolls reports for both November and October at 1330 GMT on Tuesday. The overall NFP figure for October is expected to be -10k, however, it is expected to be influenced by a massive 130k drop in federal department workers.
What to look out for on Tuesday, December 16th:
The US Dollar Index (DXY) declined sharply following the Fed's policy announcements last Wednesday and closed a third consecutive week in negative territory. Late Monday, the USD Index trimmed part of its losses and trades near 98.40.