Summary
We've brought in Navin Prithyani again to discuss the necessary routines he uses for trading. "One thing I really dislike is sitting on my desk and just looking for trades. I have to prepare well before sitting down to trade. The flow and rhythm of the market, what news will affect me, is this even a good day to trade? etc. Without planning, trading would simply be gambling."Latest Live Videos
Editors’ Picks
AUD/USD falls toward 0.6600 amid risk aversion
AUD/USD drops toward 0.6600 in Asian trading 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 and a pause in the US Dollar decline. Traders now look to the delayed US NFP report for some impetus.
USD/JPY stays in the red below 155.00 amid BoJ rate hike bets, US data awaited
USD/JPY holds moderate losses below 155.00 in the Asian session on Tuesday. The Japanese Yen gains ground on expectations that the Bank of Japan will raise interest rates at the upcoming policy meeting on Friday. Traders will closely monitor key US data, including Nonfarm Payrolls, Retail Sales, and Purchasing Managers Index, which are due later in the day.
Gold defends $4,300 as focus shifts to US NFP, PMI data
Gold price holds the $4,300 level, easing from the highest since October 21 in the Asian trading hours on Tuesday. The precious metal stays afloat on further US Federal Reserve rate 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.