New Year’s Eve means more choppy trading ahead

Major pairs held within familiar levels on Thursday, trading choppily amid thinned market conditions. Most financial markets will be closed on Friday, amid the New Year’s Eve holiday. Wall Street will operate normally, while the bonds markets will close earlier. Market’s are likely to remain choppy.

The macroeconomic calendar will remain empty through all Friday, although China will publish the December official PMIs.

 Coronavirus contagions continue escalating to record cases. Italy reported 126K new contagions, Spain 161K.  

The EUR/USD pair is trading a few pips above the 1.1300 level, while GBP/USD managed to reach a fresh monthly high of 1.3521. The Canadian dollar was the strongest, as USD/CAD fell to the 1.2740 price zone. The AUD/USD pair, on the other hand, met sellers for a second consecutive day around 0.7275. USD/JPY maintained a positive tone, trading at around 115.10.

Crude oil consolidate gains, while gold prices ticked higher, with both holding within familiar levels.

Wall Street edged higher, with the S&P reaching record highs. US Treasury yields held near Thursday’s high, with the yield on the 10-year note currently at 1.52%.

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