The markets are exceptionally quiet. This may not seem that unusual given the proximity to the year-end period; yet historically, speculative activity picks up quickly after the turn of the year (usually by the second week). The best analogy for the current state of activity is that of a deer in the headlights
The pending sales of existing homes unexpectedly soared in November to the highest level since April 2010 as historically low mortgage rate coupled with slumping house price have made home purchases more affordable for middle class.
Historically, 3 day AUDUSD rallies of at least 5% are BEARISH. Near term levels of interest are 10185 and 10140.
Much attention is paid to the United States’ monthly reading of the labor market as it historically sparks significant price action across the major currencies. However, instead of trying to trade the initial move, this strategy examines ways to trade price action after the initial reaction period in the EUR/USD.
The major commodities broke free of their historical correlations at the start of the week as fears of a ‘hard landing’ for China eased while the Euro-zone debt crisis coupled with recessionary fears weighed on the Euro.
The change in the 12-month interest rate outlook was generally modest from last week; but the forecast for the eight major central banks is still leaning towards the dovish side. This is a discouraging bearing for the broader market as interest rates themselves are still historically modest
The coming week is packed with historically-market moving events, with four rate decisions on the docket amid shortened trading week in the United States.
The Euro stumbled in the overnight as the start of a new month, in which equity markets, historically, have traded lower,
Describing historical volatility can help a trader prepare for trading the current market.
The US dollar is currently trading at levels which are close to historical lows, according to an analysis by QNB Capital.
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