Elliott Wave International Analysts Team
Elliott Wave International
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Editors’ Picks
EUR/USD clings to strong daily gains near 1.0400
EUR/USD remains on track to post strong gains despite retreating from the session high it set above 1.0430. The positive shift in risk mood, as reflected by the bullish action seen in Wall Street, forces the US Dollar to stay on the back foot and helps the pair hold its ground.
GBP/USD surges above 1.2500 as risk flows dominate
GBP/USD extends its recovery from the multi-month low it set in the previous week and trades above 1.2500. The improving market sentiment on easing concerns over Trump tariffs fuelling inflation makes it difficult for the US Dollar (USD) to find demand and allows the pair to stretch higher.
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 clings to strong daily gains near 1.0400
EUR/USD remains on track to post strong gains despite retreating from the session high it set above 1.0430. The positive shift in risk mood, as reflected by the bullish action seen in Wall Street, forces the US Dollar to stay on the back foot and helps the pair hold its ground.
GBP/USD surges above 1.2500 as risk flows dominate
GBP/USD extends its recovery from the multi-month low it set in the previous week and trades above 1.2500. The improving market sentiment on easing concerns over Trump tariffs fuelling inflation makes it difficult for the US Dollar (USD) to find demand and allows the pair to stretch higher.
Gold firmer above $2,630
Gold benefits from the broad-based US Dollar weakness and recovers above $2,630 after falling to a daily low below $2,620 in the early American session on Monday. Meanwhile, the benchmark 10-year US Treasury bond yield holds above 4.6%, limiting XAU/USD upside.
Bitcoin Price Forecast: Reclaims the $99K mark
Bitcoin (BTC) trades in green at around $99,200 on Monday after recovering almost 5% in the previous week. A 10xResearch report suggests BTC could approach its all-time high (ATH) of $108,353 ahead of Trump’s inauguration.
Five fundamentals for the week: Nonfarm Payrolls to keep traders on edge in first full week of 2025 Premium
Did the US economy enjoy a strong finish to 2024? That is the question in the first full week of trading in 2025. The all-important NFP stand out, but a look at the Federal Reserve and the Chinese economy is also of interest.
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