Global markets muted due to thin trading volumes


Global markets including currencies, commodities, stocks, and precious metal price movement are seen as cautious due to the thin trading volumes and absence of any major economic data. On Monday, most markets including Wall Street were closed to observe the Christmas holiday. Markets in the UK, Australia and New Zealand will remain closed on Tuesday to mark the Christmas and Boxing Day holidays.

Global stocks and US stock futures started the new week on a stable note as investors are still waiting on that Santa Claus Rally. Gold and Silver prices regained some upside momentum as investors opted for the safe-haven asset ahead of the New Year holidays. Crude oil futures rose Tuesday morning while investors struggle to find real direction due to thin volumes. However, commodities and precious metals are expected to be unstable over the festive period as the end of the transition period approaches on New Year’s Eve.

The king dollar ceded ground in Asia on Tuesday with greenback bulls still struggling to find strong upside momentum. The EURUSD rebounded back to above 1.0660 after the currency pair found strong buyers near the key support area of 1.0570. Moving ahead, no important economic events are expected from the Eurozone this week, so the US dollar movement will continue to play a vital role in the Euro's future direction.

Read more here -