New Years Eve means more hectic exchanges to come
What to know on Friday, December 31:
The major pairs held steady at familiar levels on Thursday, trading volatile amid thinned market conditions. Most financial markets will be closed on Friday, in the middle of the New Year’s holidays. Wall Street will operate normally, while bond markets will close earlier. The markets are expected to remain turbulent.
The macroeconomic calendar will remain blank throughout Friday, although China will release official December PMIs.
Coronavirus contagions continue to escalate to record cases. Italy reported 126K new contagions, Spain 161K.
EUR / USD is trading a few pips above the 1.1300 level, while GBP / USD has managed to hit a new monthly high of 1.3521. The Canadian dollar was the strongest, as the USD / CAD fell into the 1.2740 price zone. AUD / USD, on the other hand, met sellers for a second day in a row around 0.7275. USD / JPY maintained a positive tone, trading around 115.10.
Crude oil consolidates its gains, as gold prices have risen, both remaining at familiar levels.
Wall Street edged up as the S&P hit record highs. US Treasury yields held close to Thursday’s high, with the 10-year note yield currently standing at 1.52%.
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