EUR/USD keeps moving sideways around 1.0600 as stocks jump.

US Dollar mix on Wednesday between higher US yields and risk appetite. 

Wall Street posts important gains: Dow Jones up by 1.70%. EUR/USD on a quiet range, moving near 1.0600.

The EUR/USD continues to move without a clear direction. It printed a fresh daily low at 1.0595 and then rebounded back above 1.0600. The US Dollar is posting mixed results across the board. The rebound in US bond yields is being offset by risk appetite. The Dow Jones is up by 1.70% while the S&P 500 gains by 1.60%. 

US data: one positive, one negative 

Existing Home Sales dropped in November for the 10th straight month to an annual rate of 4.09 million, below the 4.20 million of market consensus. A different report showed the Conference Board Consumer Confidence Index rose in December to 108.3 beating market estimates. 

Risk sentiment prevailed after the numbers and even US bond yields. The US 10-year bond yield stands at 3.68% after rebounding from 3.62% while the 2-year bond yield climbed from under 4.20% to 4.23%. In Europe, bond yields also rebounded, helping EUR/USD remain sideways. The Euro is also receiving support from the rally in EUR/GBP that trades at monthly highs above 0.8770.

EUR/USD sideways 

Since the beginning of the week, EUR/USD is moving around 1.0610, in a range, with the upper limit at 1.0660 and the bottom at 1.0575. A consolidation below 1.0570 could open the doors to an extension of the correction after reaching levels above 1.0700 last week. 

On the contrary, a firm break above 1.0660 should expose the 1.0700 mark that protects the December high at 1.0737.

EUR/USD holds above 1.0600 after US data

EUR/USD continues to fluctuate in its daily range above 1.0600 on Wednesday. After the data from the US showed that consumer confidence improved in December while Existing Home Sales declined sharply in November, the US Dollar struggles to find demand.

EUR/USD News 

GBP/USD keeps falling, retreats below 1.2100

GBP/USD has lost its recovery momentum and trades at a fresh three-week low in the 1.2070 region, down from an intraday high of 1.2241. Upbeat US data lifts the market mood but also the greenback, particularly against it European rivals.

GBP/USD News 

Gold holding at higher ground above $1,800

Optimistic market players maintain XAU/USD above the $1,800.00 threshold on Wednesday, with the bright metal trading near its recent multi-month high of $1,824.53.