December 28, 2021
EUR/USD: The European currency rose slightly against the US dollar on Monday. The macroeconomic calendar had nothing relevant to offer on Monday, and it will include some minor US reports on Tuesday, such as the October S&P House Price Index and the December Richmond Fed Manufacturing Index. In the meantime, the French Prime Minister announced a series of measures introduced due to the ongoing rise of Omicron-related cases. We don’t expect high market volatility at the end of this year. The pair’s price is likely to keep moving in a narrow price range. The pair can correct to the 1.1305 level and after that, the price will probably continue its upward movement towards 1.1355.
AUD/USD: The Australian dollar rose against the US dollar yesterday. The pair portrays the market risk-on mood, staying around the monthly highs. The Australian macroeconomic calendar doesn’t have any important news this week, which hints at quiet Asian sessions. The main market mover is likely to be driven by coronavirus-related news. The virus is spreading rapidly. A surge in the daily COVID-cases could be observed in Australia as well. The pair can correct to the 0.7210 level, and after that, the price will probably continue its upward movement towards 0.7255.
XAU/USD: Gold prices rose on Monday. The yellow metal cheers the market’s risk-on mood and downbeat US dollar prices to keep buyers hopeful during the final days of 2021. Easing Omicron fears and stimulus hopes could be the major catalysts for the recent market optimism, even though light calendar and holiday mood restricted the metal’s performance. The gold can correct to the $1805 level, and after that, the price will probably continue its growth towards $1820.