Fundamental Comment

Calmness, low volume to dominate markets due to year-end holidays

Calmness and low volume to dominate markets due to year end holidays

Participants in global financial markets will take some rest this week in light of the beginning of the year-end holidays, a period in which traders usually close all their trading positions, and thus calmness will be the dominant feature on the markets, with some randomness given the low volume of trading.

Major currencies

There is nothing that might affect the US dollar except for the Durable Goods Orders report from the United States, which may show a rise of 1.9 percent in November after recording 0.6 percent increase in October.

It should be noted that any developments regarding the impeachment of US President Donald Trump could affect the movements of the dollar.

The euro is likely be affected by the general trend in the markets due to the absence of economic data from the euro area and the presence of bank holidays in major European countries.

Perhaps investors will focus on the ECB monetary policy minutes, which usually give an in-depth outlook for the economic conditions that influenced the interest rate decision at the last meeting.

As for the British pound, its movements this week may depend on the latest developments in the Brexit, as there are no economic data from Britain.

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