Looking back, market volatility:
- Gold drops to $1,795.87
- US Dollar remains flat at 95.74 (very slight increase)
- Bitcoin loses another 11% to $41,847.50
Below are other important events that will affect prices of currencies, indices and commodities that you can browse through.
Gold
Omicron has slowed American job growth. XAUUSD gained 0.90% on day’s news and closed on Friday at 1,795.87.
The Fed‘s December Minutes, issued on Wednesday, sent Gold deep to a three-week low of 1,782.42. Minute’s anti-inflation mood has prevailed in markets and shows the central bank’s urge to make its way, despite weakening Omicron and NFP cases. Therefore, XAUUSD is likely to continue falling.
Forex
EURUSD ended Friday at 1.13572. On Wednesday, it gained 0.6% and fell into same range on Friday, compounded by weekly swings.
GBPUSD ended week at 1.35850. The British pound strengthened for third week in a row, gaining 3.2%.
USDCAD closed Friday unchanged at 1.26363. Crude oil halted gains on Friday, sending Canadian dollar consolidating. Furthermore, strong domestic jobs report triggered pair’s downtrend.
Motivation for Uptrend
GBPUSD remains in positive zone. The pair has been gaining strength, despite weak UK economic reports.
The recent Friday drop in the US dollar reinforced positive trajectory of pairs.
Canada’s jobs report was stronger than that of the US, which led to USDCAD falling 0.7% on Friday.
The changes of this pair are not significant on a weekly basis. Oil prices ended the week with a drop, leading to USDCAD’s growth and balancing its volatility.
Motivation for Downtrend
Midweek brought negative news for EURUSD as euro zone data showed a record 5% inflation in December. However, ECB officials said nothing but warrants a deceleration. degree this year.
EURUSD fell 0.6%. According to NFP report, greenback faces steepest drop of 0.6% in six weeks. The pair may soon slide towards 1.1300.
Cryptocurrency
BTCUSD fell to late-September levels of 40,540.32 due to this week’s crypto sell-off. The pair is down 40% since its record high of 69,000 in November.
Motivation for Downtrend
Fed meeting put pressure on BTCUSD and erased investors’ appetite for risky assets.
Furthermore, events in Kazakhstan have affected currency, as internet outage has affected country’s local chain mining industry.
Pay attention to the events that will happen here
Next week will bring German HICP. Then, release of US CPI, Retail Sales and Initial Jobless Claims Data will wrap up list of major events.
This is not investment advice, trade wisely.
