Teaching a Forex class this week, Mike McMahon joins Merlin for a look at what he and his students have been analyzing. Mike and merlin look at The Euro, Dollar, Swiss Franc, Oil, Gold and much more. Mike also offers his outlook on Oil, which he called to bounce on last week’s show. 24% bounce in 6 days isn’t bad! Where is it going next? Tune in and find out!
Editors’ Picks
EUR/USD stabilizes around 1.2550 after hitting two-year lows
EUR/USD plunged to 1.0223, its lowest in over two years, as risk aversion fueled demand for the US Dollar. Thin post-holiday trading exacerbated the movements, with financial markets slowly returning to normal.
GBP/USD slumps to multi-month lows below 1.2400 on broad USD strength
Following an earlier recovery attempt, GBP/USD reversed its direction and declined to its weakest level in nearly eight months below 1.2400. The renewed US Dollar (USD) strength on worsening risk mood weighs on the pair as trading conditions normalize after the New Year break.
USD/JPY flirts with multi-month highs in the 158.00 region
The USD/JPY pair traded as high as 157.84 on Thursday, nearing the December multi-month high of 158.07. Additional gains are on the docket amid prevalent risk aversion.
Editors’ Picks
EUR/USD stabilizes around 1.2550 after hitting two-year lows
EUR/USD plunged to 1.0223, its lowest in over two years, as risk aversion fueled demand for the US Dollar. Thin post-holiday trading exacerbated the movements, with financial markets slowly returning to normal.
USD/JPY flirts with multi-month highs in the 158.00 region
The USD/JPY pair traded as high as 157.84 on Thursday, nearing the December multi-month high of 158.07. Additional gains are on the docket amid prevalent risk aversion.
Gold retains the $2,650 level as Asian traders reach their desks
Gold gathered recovery momentum and hit a two-week-high at $2,660 in the American session on Thursday. The precious metal benefits from the sour market mood and looks poised to extend its advance ahead of the weekly close.
These 5 altcoins are rallying ahead of $16 billion FTX creditor payout
FTX begins creditor payouts on January 3, in agreement with BitGo and Kraken, per an official announcement. Bonk, Fantom, Jupiter, Raydium and Solana are rallying on Thursday, before FTX repayment begins.
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Money managers may adjust their portfolios ahead of the year-end. Weekly US Jobless Claims serve as the first meaningful release in 2025. The ISM Manufacturing PMI provides an initial indication ahead of Nonfarm Payrolls.
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