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Original title: Decision Analysis: Right Now! Gold fell dramatically in the short term and fell to 1870, and new news of the US stimulus plan came in. And the Brexit deal was in trouble again …
FX168 Financial News (Hong Kong) News Thursday (Dec 24) European business hours, some European stock markets closed early due to Christmas Eve, overall market liquidity is low, focusing on Brexit news and stimulus plan from USA
At the close, the UK’s FTSE 100 index closed 0.1% higher; the IBEX35 index for Spain closed 0.17% higher; France’s CAC40 index closed 0.1% lower.
The European market is focused on the Brexit news. The UK and the European Union said on Wednesday they are about to finalize a trade deal that has not been reached in a long time, giving people hope that the two sides will reach an agreement before the 1 January 2021.
British sources said Thursday that negotiations between the UK and the EU on a post-Brexit trade deal may still take “a few hours” to complete. The two sides are reportedly still discussing EU fishing rights in British waters.
Bloomberg reported that officials said that although the two parties agreed on the general terms of a post-Brexit trade deal on Wednesday (23), including a wide range of fishing quotas. However, at the last minute, negotiators disagree on the exact number of each species that EU ships can catch in British waters. It is unclear how long the discussion will take to reach a conclusion.
A source at the European Commission said that although it has entered the “final stage”, consultations are still ongoing. An EU official cautioned that the risk of a “no-deal” Brexit on January 1 cannot be ruled out. He said, “Both outcomes are possible.” A British government source was also cautious, saying “consultations are ongoing.” in.”
Affected by the still difficult development of the trade agreement, in a few daysGBPTrim gains, it has now fallen below the 1.36 mark, and is currently trading near 1.3585. The US dollar took the opportunity to gain a foothold and is currently basically flat.
In addition, there is new news about the US stimulus plan. Market News: The United States Democratic Party’s proposal for a $ 2,000 cash distribution was not approved by the House of Representatives. Democrats in the U.S. House of Representatives blocked Republican requests to reconsider foreign aid in the crown’s new subsidy program.
The Speaker of the US House of Representatives, Pelosi, later said that a vote will be held next Monday on the independence bill for the distribution of $ 2,000 in cash. Pelosi urged Trump to sign the stimulus plan and spending bill.
It’s worth mentioning that in most of the United States, a $ 600 stimulus check cannot pay a month’s rent, while a $ 2,000 check is enough to pay 99% of Americans’ monthly rent. . Earlier, Trump refused to sign the epidemic bailout stimulus bill, demanding that the amount of the $ 600 stimulus check be increased to $ 2,000.
After the news broke, spot gold fell sharply in the short term and fell below $ 1,870, and silver was also rejected. Hopes that the stimulus plan weakened again to be negative for gold.
Intraday approach and weather vane:
US Christmas Eve closed early at 02:00 on December 25 Beijing time
Hong Kong, China only conducts early trading on the same day, and the market randomly closes between 12: 00-12: 10
Australia closed early at 11:10 Beijing time
Canada closed earlier than scheduled at 2 a.m. Beijing time on the 25th
The UK closed early at 8:30 p.m. Beijing time
France closes early at 9:05 p.m. Beijing time
Germany and Italy close for Christmas Eve holidays
Analysis of the main currencies:
EUR: EUR / USD fell below the 1.22 mark in the European session and is currently trading around 1.2185. From a technical perspective, from the 4-hour chart, the MACD’s green kinetic energy column gradually weakened and almost disappeared, the RSI indicator was trading below the 50 level, and the KDJ indicator was stable near the 50 level, which which indicates that the price may fluctuate more in the short term. Initial short-term support is at 1.2150 and initial resistance can be seen at 1.2250.
GBP: GBP / USD rallied further after rising a hundred points yesterday and is currently trading around 1.3590. From a technical perspective, from the 4-hour chart, the MACD’s red kinetic energy column is basically stable, the RSI indicator is approaching the overbought level, and the KDJ indicator is trading within the overbought level, suggesting that the Price is short term or consolidation. Initial short-term support is at 1.3460 and initial resistance can be seen at 1.3624.
Japanese Yen: The US dollar / yen continued to fluctuate higher after hitting a low of 102.85. The current price is around 103.65, which is still below the main moving average. From a technical perspective, from the 4 hours chart, the MACD’s red kinetic energy column is basically stable, the RSI indicator remains above the 50 level and the KDJ indicator breaks the 50 level. The price is expected to continue to fluctuate further. high in the short term. Initial short-term support is at 103.35 and initial resistance is at 103.88.
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