Should investors be wary of sudden price movements while markets in Europe and the U.S. are closed?
26.12.2022
- Major markets in Europe and the U.S. are closed for the Christmas holiday
- The UK, Canada, Australia, and New Zealand are on a long weekend through the 27th
Last weekend, the U.S. dollar saw a seesaw trade against the yen following the release of the November U.S. PCE deflator, which came in at 5.5% year-over-year—below the market forecast of 5.6%.The USD/JPY pair experienced volatility amid a gradual rise that had been underway since Asian trading hours, fluctuating between 132.506 and 133.116. During today’s Asian trading hours, it is trading around 132.596, remaining largely unchanged.
In the European currency market, the euro and the U.S. dollar remained in a stalemate, with the EUR/USD pair trading in a range between 1.0586 and 1.0633. From a technical perspective, the EUR/USD pair has been trading at the same level for over a week, and the Bollinger Bands are showing a tendency to contract.Although European and U.S. markets will be closed today and tomorrow, traders should be on the lookout for significant price movements when trading resumes.
Today’s economic indicators include Turkey’s capacity utilization rate and manufacturing confidence index at 16:00 European time, Brazil’s FGV consumer confidence index at 20:00, and South Korea’s consumer confidence index at 30:00 U.S. time.While Japan is back in business after Christmas, markets in major countries such as the U.S. and the U.K. are closed for the Christmas holiday and the resulting long weekend. Be on the lookout for sudden price movements while markets in Europe and the U.S. are closed.
