{"id":162571,"date":"2019-12-30T08:15:43","date_gmt":"2019-12-30T13:15:43","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=162571"},"modified":"2019-12-30T07:59:25","modified_gmt":"2019-12-30T12:59:25","slug":"final-trading-days-of-2019-underway","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/12\/final-trading-days-of-2019-underway\/","title":{"rendered":"Final Trading Days Of 2019 Underway"},"content":{"rendered":"
December 30, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

USD Recovers Off Lows<\/strong><\/h2>\n

The US dollar has had a quiet start to the penultimate trading day of 2019.\u00a0The USD index trades around 96.49 last, with price posting a mild recovery off last week\u2019s lows, though still look vulnerable to further downside.<\/strong>\u00a0Looking to today\u2019s US session the key data focus will be the Chicago PMI which is due to have ticked up last month.<\/p>\n

Messy Start for The Euro<\/strong><\/h2>\n

EURUSD has had a choppy start to the day, posting moves in both directions over the start of the European session. Flows remain light today given that many traders are still away on seasonal holidays ahead of the New Year.<\/strong>\u00a0\u00a0This week the market will receive a raft of Eurozone member PMIs which will drive early price action in the single currency. EURUSD trades 1.1198 last.<\/p>\n

GBP Rallies At The Open<\/strong><\/h2>\n

GBPUSD kicks off the week on a firm footing.\u00a0Trading 1.31118 last, price is rallying strongly back above the 1.3014 level. Optimism ahead of the UK leaving the EU on January 31st<\/sup>\u00a0is keeping price well supported.<\/strong>\u00a0Final PMI readings for last month will be the key domestic data focus this week.<\/p>\n

SPX500 Just Off Highs<\/strong><\/h2>\n

Risk assets have started the week a little softer with the SPX500 continuing to retreat from last week\u2019s new record highs.<\/strong>\u00a0\u00a0While the market remains\u00a0optimistic over US\/China trade negotiations<\/a>, some hesitation remains as the next round of talks is yet to be confirmed. Global manufacturing data will be closely watched this week and could impact risk flows if we see further negative prints. SPX500 trades 3238.73 last.<\/p>\n

JPY Up, Gold Flat<\/strong><\/h2>\n

Safe havens have had a mixed start to the week with gold a little weaker against USD while JPY has been firmly higher.<\/strong>\u00a0Weakness in USD at the end of last week is keeping the near term outlook positive for safe havens though any rally in equities this week will cap upside. USDJPY trades 109.11 last. XAUUSD trades 1512.98 last.<\/p>

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Oil Holds Near Highs<\/strong><\/h2>\n

Oil prices have started the week in a subdued fashion too. Light holiday trading is keeping flows stimied here as traders await the fuller return of the market across the week and into next week.\u00a0However, with some tier one data releases over the week as well as the inventories reports, there is still plenty of room for volatility.<\/strong>\u00a0Crude trades 61.62 last, sitting just off the highs posted last week in response to news of a further drawdown in US crude stores.<\/p>\n

Loonie Looks Limp<\/strong><\/h2>\n

USDCAD has started the week in the red though is still holding above the 1.3068 support level for now.\u00a0The rally in crude over recent weeks, combined with weakness in USD, has seen heavy selling in the loonie, which looks vulnerable to further losses from here.<\/strong><\/p>\n

AUD In The Green<\/strong><\/h2>\n

AUDUSD has started the week on a positive note with price rallying strongly back up towards overnight highs. Optimism around US\/China trade talks is keeping sentiment well supported here.<\/strong>\u00a0Chinese manufacturing data will be on watch tomorrow and is expected to have increased last month which should help keep AUD underpinned. AUDUSD trades .6995 last.<\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex USD Recovers Off Lows The US dollar has had a quiet start to the penultimate trading day of 2019.\u00a0The USD index trades around 96.49 last, with price posting a mild recovery off last week\u2019s lows, though still look vulnerable to further downside.\u00a0Looking to today\u2019s US session the key data focus will be the […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-162571","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/162571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=162571"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/162571\/revisions"}],"predecessor-version":[{"id":162576,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/162571\/revisions\/162576"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=162571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=162571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=162571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}