What Will Happen To The Foreign Exchange Market At Christmas?

Market Overview: on Friday (December 25th) Christmas, investors ushered in a rare day of rest, especially for foreign exchange traders.

This paction is basically supported by the Japanese market, while the European and American markets will be closed for Christmas holidays.

Therefore, most currencies are also mild.

For foreign exchange traders, however, there are few days to relax.

Next Monday, most traders will reopen the platform, and the first thing to do is to focus on it.

Performance.

Dollar / yen yesterday's wave of decline basically laid a short-term downward trend.

121.05 resistance is the focus of next week's attention. The resistance will continue to suppress.

Initially look at the 118.80 level.

In other currencies, the euro is concerned about 1.1070 of the test, and the AUD / USD is concerned about the resistance effect above 0.7930.

Day focus and weathervane:

Christmas, Australia, Canada, France, Germany, Hongkong, Italy, New Zealand, Singapore, South Korea, Switzerland, the United Kingdom, the United States closed for the holidays.

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Analysis:

Yen: from a technical point of view, the US dollar / yen chart is MACD, the green kinetic energy column is enlarged, and the KDJ index is downward.

From the daily chart, USD / JPY is concerned about further downside risks.

Aud: from a technical point of view, the Australian dollar / USD chart MACD shows the red kinetic energy column, and the KDJ index is upward.

From the daily chart, the Aussie dollar is in a moderate rebound.

Euro: technically, the euro / dollar chart MACD red kinetic energy column still exists, KDJ index upward.

From the daily chart, the euro tends to rebound slightly in the short term.

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The renminbi rose sharply against the US dollar on Friday (December 25th), with a slight increase in the volatility.

The US dollar / RMB inquiry system was reported at 6.4709, and it was closed at 6.4768 on Thursday.

The US dollar / RMB intermediate price was set at 6.4713, and Thursday's middle price was 6.4755.

The spot turnover of RMB against the US dollar was US $5 billion 502 million, which was US $7 billion 935 million on Thursday.

In the overseas non deliverable Forex foreign exchange (NDF) market, the latest US dollar / Renminbi variety was 6.7495 at the latest and 6.7695 at the end of Thursday.

The latest offshore dollar / RMB spot report in Hongkong was 6.5365/6.5399, and the last trading day was 6.5410.

The exchange rate of China's foreign exchange trading center at 11:00 today is 6.4720 against the US dollar.

Traders said the market liquidity decreased significantly during Christmas holidays.

Foreign investment banks have entered the vacation mode to reduce the purchase of foreign exchange, and Chinese banks still have a settlement plate, which will push up the RMB exchange rate.

During the Christmas season, offshore renminbi market liquidity also declined, and market sentiment was cautious.

Other traders said Friday is Christmas, and there is no liquidity. If the dollar weakens, it will be a good opportunity to buy foreign currency. "If we go further down, we will buy a little bit of land. If we do not move, we will not move. We will see that there will be a trend in the market."