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Good day, the article comes early today !
Due to the unpredictable availability of internet access, i figured out that i better work on my koala article now since i have it!
The EUR/USD did receive some bullish relief, testing 1.4000 in the process and easing off for now.
As the S&P 500 is closed currently, lets take a look at gold instead. This is interesting as gold continues to slip lower. On the contrary the US Dollar has weaken since.
Oil remains around $73.
Ah, in case it has not come across your mind, we are indeed in tough trading times. Only yesterday the meal of the day was risk aversion and today, risk seeking !
One of the main star of this will be the German business confidence which increased to the highest in 17 months in December. Risk seeking speculators simply love to hop onto train rides like these. This definitely seems to be more attractive than the low / no yield of gold and hence say goodbye to gold! Now that our economic releases have been pretty much served for the week, we may see no major moves unless any unexpected news pops up. One thing we may need to watch out for is the usual profit takings on Fridays for the pub drinking fund!
Bullish pressure may retest 1.4400 while bearish moves may bring us to 1.4365+ again.
How are you folks preparing for the xmas? Feel free to share with me. I love hearing about happy stories of families and friends celebrating xmas. Now let us not forget the unfortunate! An act of kindness a day makes the world a better place! Koalas should be kind and nice
Take care and trade well.
Read more Forex Articles and Views by The Koala at www.thegeekknows.com