Eliman Dambell
Tradeview Markets
GBPUSD was trading at its lowest point in over 20 years on Wednesday, as markets reacted to the latest FOMC rate decision.
Despite some calling for a 1% hike, the Fed opted to increase rates by 75 basis points, as it continues its battle with rising consumer prices in the United States.
Ahead of the decision, market speculation had led to the greenback gaining versus several G-7 currencies, including USDJPY.
EURUSD also fell to a fresh 20-year low, with GBPUSD trading at its weakest point in over two decades.
As of writing this, XAUUAS was trading at a 2-year low.
U.S. President Biden responds to Putin’s Nuclear threats
U.S. President Joe Biden today reposended to Russian leader Vladimir Putin, as Russia prepared to mobilize 300,000 troops.
In a televised address, Putin stated that, “We are talking about partial mobilization, that is, only citizens who are currently in the reserve will be subject to conscription, and above all, those who served in the armed forces have a certain military specialty and relevant experience”.
The Russian leader was also quoted as saying, “ (The west) wants to destroy our country”.
Responding to this, Biden was quoted as saying, “No matter what else is happening in the world, the United States is ready to pursue critical arms control measures. A nuclear war cannot be won and must never be fought”.
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EUR/USD clings to daily gains near 1.0300 after US PMI data
EUR/USD trades in positive territory at around 1.0300 on Friday. The pair breathes a sigh of relief as the US Dollar rally stalls, even as markets stay cautious amid geopolitical risks and Trump's tariff plans. US ISM PMI improved to 49.3 in December, beating expectations.
GBP/USD holds around 1.2400 as the mood improves
GBP/USD preserves its recovery momentum and trades around 1.2400 in the American session on Friday. A broad pullback in the US Dollar allows the pair to find some respite after losing over 1% on Thursday. A better mood limits US Dollar gains.
Gold retreats below $2,650 in quiet end to the week
Gold shed some ground on Friday after rising more than 1% on Thursday. The benchmark 10-year US Treasury bond yield trimmed pre-opening losses and stands at around 4.57%, undermining demand for the bright metal. Market players await next week's first-tier data.
Stellar bulls aim for double-digit rally ahead
Stellar extends its gains, trading above $0.45 on Friday after rallying more than 32% this week. On-chain data indicates further rally as XLM’s Open Interest and Total Value Locked rise. Additionally, the technical outlook suggests a rally continuation projection of further 40% gains.
Week ahead – US NFP to test the markets, Eurozone CPI data also in focus
King Dollar flexes its muscles ahead of Friday’s NFP. Eurozone flash CPI numbers awaited as euro bleeds. Canada’s jobs data to impact bets of a January BoC cut. Australia’s CPI and Japan’s wages also on tap.
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