Forex Signals Brief for Dec 31: The Dollar Demise Continues
US Market Wrap
As markets move into their final trading session for the year, the themes of 2020 continued to play out.
Equities moved higher for the most part led by the large tech names that have done the bulk of the heavy lifting this year for indices.
Meanwhile, the demise of the USD is only getting stronger as the US Dollar Index dropped through the lows of 90.00 and into uncharted territory.
At the same time, the resurgence of BTC gathered more steam, as the worlds leading crypto took out the highs and presses towards that next major level of $30,000.
The Data Agenda
The main data point today is US jobless claims, which has been a very telling number over 2020.
With both the Democratic-controlled states of California and New York, being shut down by their Governors, huge numbers of small businesses have been destroyed, which has certainly contributed to this number staying elevated. When the likes of Texas and Florida are operating as normal.
We expect jobless claims to come in at 833K, up from 803K last week.
Forex Signal Update
The FX Leaders Team hit 3 winners from 3 signals yesterday, with the common theme being the falling USD helping all of our signals.
Make sure you follow our live signals as volatility could increase as we head into the weekend with some big data ahead.
USD – Watching
The USD has been the big story over the past 48 hours and we can see that price is making fresh lows at the moment.
Gold – Watching
GOLD is beginning to knock on the door of $1900 and as the USD continues to weaken a test is very much on the cards.
Cryptocurrency Update
BTC made another leg higher yesterday as price broke through the prior record-high $28,000 level and tested $29,000.
Professional athletes are now even being asked to be paid in Bitcoin has the hype returns.
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