Investors should be wary of sudden price movements while markets in Europe and the U.S. are closed.

Investors should be wary of sudden price movements while markets in Europe and the U.S. are closed.

26.12.2022

Last weekend, the U.S. dollar saw a seesawing trend 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.In today’s Asian session, the pair is trading around 132.596, showing little change from the previous session.

European currencies remained in a stalemate between the euro and the U.S. dollar, with the EUR/USD pair trading in a range between 1.0586 and 1.0633. From a technical perspective, the EUR/USD has been trading at the same level for over a week, and the Bollinger Bands are showing signs of narrowing. While 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 4:00 p.m. CET, Brazil’s FGV consumer confidence index at 8:00 p.m. CET, and South Korea’s consumer confidence index at 12:00 a.m. EST. While Japan is back in business after Christmas, markets in major countries such as the U.S. and the U.K. will be closed for the Christmas holiday.With markets in Europe and the U.S. closed, investors should be on the lookout for sudden price movements.