Not much is going on in the markets, as we are at the heart of the holiday season and investors are on the sidelines.
In a potential sign of easing trade tensions, China will raise quota on Australian wool in 2022.
Data from the American Petroleum Institute overnight, showed that crude inventories dropped by 3.09 million barrels last week.
Main Asia-Pacific stock were mostly downbeat, although Australia returned with profits and European futures appear upbeat.
In the FX space we see limited activity, with the US Dollar supported and the JPY Basket mixed.
EUR/USD remains soft and probes 1.1300.
GBP/USD stays on the back foot, threatening 1.3400.
USD/JPY trades with positive undertone, but still can't leave 115.00 behind it.
USD/CAD is on the front foot, above 1.2800.
AUD/USD continues to face pressure above 0.7200.
NZD/USD slides and gives 0.6800 up.
GER30 is upbeat, eyeing 16,000.
SPX500 is constructive, but off Tuesday's record highs (4,810).
USOIL consolidates around $76/barrel.
XAU/USD shows indecision below 1,810.
Economic Calendar Picks (GMT)
The economic calendar continues to lack any major releases, with US EIA Oil stockpiles standing out (15:30).
See the economic calendar here.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.