Dec 31, 2019

Normally, not many traders decide to do anything on the last day of the year because the market is to volatile. If you still want to make some moves, check out the hottest updates for December 31 to apply the right trading strategies.

forex strategy Dec 31

There’s not much time left

Sydney stock market trading volume has dropped more than 30% below the average. New Zealand market has closed. The futures market in Hong Kong has slipped. The Japanese market was closed for the holidays, while some other markets shortened the trading time. The US futures market jumped higher after the S&P 500 index plunged the most in more than three weeks amid a countdown to New Year's holiday tomorrow.

Be careful if you want to trade

The dollar fell, while the currencies associated with leading commodities rose. Yields on 10-year Treasury Bonds closed at 1.88% yesterday.

Investors are acting cautiously in pre-holiday trading when the global equity benchmark hit a record high. The Fed seems to be stalling to focus on moving to the next step in US-China trade talks, but traders may still be reluctant to jump into the risk-taking market. Peter Navarrro - US Trade Advisor said yesterday that a preliminary trade deal with Beijing was completed.

However, Hannah Anderson, global market strategist at JPMorgan Asset Management, said: "The trade war between the United States and China is far from over. The negotiations continue. Discuss the details of a first-stage deal, but policymakers admit there are still many painful issues in. Profit will depend on investors being able to tolerate the fears of how are they in such a low growth world."

A measure of the Chinese manufacturing industry maintained its expansion signal in December. For the first time in 18 months, the Taiwan dollar was stronger than the greenback.

Oil rising

Elsewhere, West Texas crude oil prices were less volatile after a report that Iran had seized a fuel tanker. Oil is on track for the biggest annual increase since 2016.

Other markets also close today, including South Korea, Indonesia, Philippines, and Thailand.

The currency market

  • The yen is traded at 108.80/USD after rising 0.5% on Monday.
  • The renminbi is 6,9783/USD.
  • The Bloomberg dollar index fell 0.1% for the fourth day in a row.
  • The euro rose to $1.1208.

The commodities market

  • West Texas Intermediate crude oil fell 0.2% to $61.54/barrel.
  • Gold increased 0.2% to $1,518.74/ounce.

That's 2019, everyone. Wish you a happy and successful 2020. Good luck trading.