Category: Featured

Dear Traders,
Please find our updated trading schedule for the Christmas, Boxing Day and New Year’s Day holidays below. All times mentioned in GMT +2.
Liquidity over the holidays is expected to be particularly thin so please take the necessary precautions to ensure you are not affected by increased volatility, spreads and intermittent pricing.

Sterling decisively reclaimed GE-related gains last week as sellers strengthened their grip and snapped a three-week winning streak. After topping at the 2018 yearly opening level drawn from 1.3503 the week prior, price crossed back through long-standing trend line resistance, pencilled in from the high 1.5930.

Less-than-stellar US macroeconomic data kept the US dollar index in check Thursday, wrapping up the session unchanged. The Federal Reserve Bank of Philadelphia’s monthly report revealed the diffusion index for current general activity fell 10 points this month to 0.3, its lowest reading in six months.

The pound held onto the bulk of Tuesday’s downside yesterday, dipping below 1.31 before finding a base at around 1.3070. Limited reaction was observed in light of UK inflation metrics, in which headline CPI modestly topped forecasts ahead of the BoE’s monetary policy update today.

Europe’s single currency concluded Tuesday mixed against the greenback, after failing to sustain gains north of November’s opening level at 1.1156. As evident from the H4 timeframe this morning, traders are left with a shooting star candlestick pattern , which could entice selling towards nearby trend line support, extended from the low 1.0981.