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Risk remains strong after Christmas break.

jeffriess
December 27, 2019
by Joseph Jeffriess, Market Analyst

Article Recap

Strong moves to recommence trade from the AUD, Gold and Oil. - US stocks continue to hit new records. - No key data or news in today's market sessions.

The Christmas cheer continues for stocks, gold and risk currencies.

Trading came back online for most markets yesterday after the Christmas bank holiday. Boxing day produced some solid moves from Gold and AUD and US stocks. The Dow, Nasdaq and SPX all hit new records continuing the solid gains we’ve seen this week.

The ASX200 is finally seeing some green after very flat to average sessions and ignoring strong US leads. The ASX200 has a 12 point lead this morning. The Nikkei is flat in Friday trade.

The risk majors had a solid Thursday all gaining to the USD, the GBP +0.39% the EUR +0.05% and the AUD starred adding 0.58%, yesterday was really all about the commodity currencies. The AUD also added 0.76% to the JPY and the CAD climbed to the USD adding 0.33%.

Commodities supported these gain, oil gained 0.80% hitting 61.65 this level is just above the September spike opening level. Price now 21% higher after its October low. Gold was another that jumped on Boxing day trade. Buyers added 0.81% after the Christmas break, for now, we are waiting to see how price reacts if it can retest 1514.50 resistance.

Trade has been quiet to this point in the Asian session, the EURis seeing the best gains to the USD and JPP at this point, and the USDCAD after solid opening gap lower has rallied 0.18%.

We have no high impact data in today/tonight’s session.

Today’s update video, we take a technical look yesterday’s moves on the US30, Oil, Gold, AUDUSD and AUDJPY on their daily price charts.

All times are AEST.