Pre Loader

17.12.2021 Market Report

EUR/USD

EUR/USD came under renewed bearish pressure during the European trading hours and started to edge lower toward 1.1300. The data from Germany showed that the business confidence weakened in December with the IFO Current Assessment Index declining to 96.9 from 99 in November.

GBP/USD

GBP/USD fell below 1.3300 with the risk-averse market environment providing a boost to the greenback. The data from the UK showed Retail Sales increased by 4.7% on a yearly basis in November following October’s contraction of 1.5%.

USD/JPY

USD/JPY edged lower for the second successive day and retreated further from the monthly high. The prevalent risk-off mood underpinned the safe-haven JPY and exerted pressure on the major. Sliding US bond yields kept the USD bulls on the defensive and added to the modest selling bias.

AUD/USD

The AUD/USD pair maintained its offered tone through the early part of the European session, albeit has managed to recover a few pips from the daily low. The pair was last seen trading around the 0.7170-75 region, down nearly 0.15% for the day.

NZD/USD

NZD/USD has been pressured in recent trade and is making hard work of the recovery into the 0.67 – 0.68 area.

USD/CAD

USD/CAD retreats to 1.2800 as oil sellers take a breather, focus on risk catalysts.

USD/CHF

USD/CHF slides to near two-week low, challenges 200-DMA around 0.9159 – 0.9175 region.

CRUDE OIL

WTI Bulls seek clear break of $72.00.   

GOLD

Gold price is riding higher on the hawkish central banks’ decisions and year-end flows, having taken out the critical $1,800 mark. The US dollar and yields lick their wounds, lending support to gold.

Stay up to date with the important data releases and economic events happening daily through our  Economic Calendar.

Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.