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Get Ready for the Holidays !

By:
Sylvester Stephen
Published: Dec 23, 2016, 04:41 UTC

The traders need to be off by now for the holidays. Or that’s certainly what the markets seem to think so. There has not been much movements in any of the

Get Ready for the Holidays !

The traders need to be off by now for the holidays. Or that’s certainly what the markets seem to think so. There has not been much movements in any of the markets for the past couple of days and whatever moves there have been, it is just pushing of the prices here and there with no specific direction and with no specific fundamentals in play. We saw more of the same yesterday and the markets certainly seem to be in a holiday mode.

Yesterday, we saw a range of news from the US and Canadian regions. While the Canadian news was mixed, the news from the US was positive for the dollar but that was not enough to push the pairs in any specific direction. The lull in the markets has ensured that it is only range and consolidation trading that is going on in the markets and it is better for the investors and long term traders to stay away.

Today is a holiday in Japan and with the upcoming Christmas holidays as well, we believe that the tight ranges are going to exist in the market today as well. We have the current account data from the UK and the GDP from Canada but we do not think either of this would be considered important enough to bring in much volatility. So, take some rest and ensure that you are relaxed and well rested for the upcoming challenges in 2017 which is likely to be as volatile and as exciting as any.

 
For more detailed analysis from the author, please visit NoaFX.

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