Economic data and the fed proved to be the major market movers on Wednesday, yet special guest Bill Henner spotted something different. With 25 years of floor trading experience in Chicago, Mr. Henner is no stranger to market patterns. The duo discuss the current market condition as well as what Bill has gleaned from the charts.
Editors’ Picks
EUR/USD climbs above 1.0350 ahead of German inflation data
EUR/USD gathers recovery momentum and trades above 1.0350 in the European session after the data from Germany and the Eurozone showed that Services PMI figures for December were revised higher. Investors await German inflation report.
GBP/USD extends rebound toward 1.2500 on broad USD weakness
GBP/USD extends its recovery from the multi-month low it set in the previous week and closes in on 1.2500. The improving risk mood makes it difficult for the US Dollar (USD) to find demand on Monday and helps the pair push higher ahead of mid-tier US data releases.
Japanese Yen bulls remain on the sidelines; USD/JPY stands firm above mid-157.00s
The Japanese Yen continues to be undermined by wavering BoJ rate hike expectations. The au Jibun Bank Japan Services PMI was revised down to 50.9 from 51.4 for December. The USD stands near a two-year top amid the Fed’s hawkish shift and supports USD/JPY.
Editors’ Picks
EUR/USD climbs above 1.0350 ahead of German inflation data
EUR/USD gathers recovery momentum and trades above 1.0350 in the European session after the data from Germany and the Eurozone showed that Services PMI figures for December were revised higher. Investors await German inflation report.
GBP/USD extends rebound toward 1.2500 on broad USD weakness
GBP/USD extends its recovery from the multi-month low it set in the previous week and closes in on 1.2500. The improving risk mood makes it difficult for the US Dollar (USD) to find demand on Monday and helps the pair push higher ahead of mid-tier US data releases.
Gold price keeps the red near 100-day SMA despite modest USD weakness
Gold price (XAU/USD) turns lower for the second straight day following an intraday uptick to the $2,647-2,648 area on Monday and moves further away from a nearly three-week high touched on Friday.
Bitcoin, Ethereum and Ripple show signs of bullish momentum
Bitcoin’s price is approaching its key psychological level of $100,000; a firm close above would signal the continuation of the ongoing rally. Ethereum price closes above its upper consolidation level of $3,522, suggesting bullish momentum. While Ripple price trades within a symmetrical triangle on Monday.
The week ahead: Three things to watch
Analysts believe that American exceptionalism will persist in 2025, and the first trading week of the year would suggest that investors are also betting on another strong year for the US.
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