Important Information

You are visiting the international Vantage Markets website, distinct from the website operated by Vantage Global Prime LLP
( ) which is regulated by the Financial Conduct Authority ("FCA").

This website is managed by Vantage Markets' international entities, and it's important to emphasise that they are not subject to regulation by the FCA in the UK. Therefore, you must understand that you will not have the FCA’s protection when investing through this website – for example:

  • You will not be guaranteed Negative Balance Protection
  • You will not be protected by FCA’s leverage restrictions
  • You will not have the right to settle disputes via the Financial Ombudsman Service (FOS)
  • You will not be protected by Financial Services Compensation Scheme (FSCS)
  • Any monies deposited will not be afforded the protection required under the FCA Client Assets Sourcebook. The level of protection for your funds will be determined by the regulations of the relevant local regulator.

If you would like to proceed and visit this website, you acknowledge and confirm the following:

  • 1.The website is owned by Vantage Markets' international entities and not by Vantage Global Prime LLP, which is regulated by the FCA.
  • 2.Vantage Global Limited, or any of the Vantage Markets international entities, are neither based in the UK nor licensed by the FCA.
  • 3.You are accessing the website at your own initiative and have not been solicited by Vantage Global Limited in any way.
  • 4.Investing through this website does not grant you the protections provided by the FCA.
  • 5.Should you choose to invest through this website or with any of the international Vantage Markets entities, you will be subject to the rules and regulations of the relevant international regulatory authorities, not the FCA.

Vantage wants to make it clear that we are duly licensed and authorised to offer the services and financial derivative products listed on our website. Individuals accessing this website and registering a trading account do so entirely of their own volition and without prior solicitation.

By confirming your decision to proceed with entering the website, you hereby affirm that this decision was solely initiated by you, and no solicitation has been made by any Vantage entity.

I confirm my intention to proceed and enter this website Please direct me to the website operated by Vantage Global Prime LLP, regulated by the FCA in the United Kingdom

By providing your email and proceeding to create an account on this website, you acknowledge that you will be opening an account with Vantage Global Limited, regulated by the Vanuatu Financial Services Commission (VFSC), and not the UK Financial Conduct Authority (FCA).

    Please tick all to proceed

  • Please tick the checkbox to proceed
  • Please tick the checkbox to proceed
Proceed Please direct me to website operated by Vantage Global Prime LLP, regulated by the FCA in the United Kingdom.


Watch Reborn a Trader


View More
  • All
  • Search
  • Forex Trading
  • Vantage Rewards
  • Spreads
  • facebook
  • instagram
  • twitter
  • linkedin
  • youtube

Risk rebounds as USD closes at fresh cycle low

Vantage Updated Updated Thu, 2023 December 21 10:04


* US weekly jobless claims increase slightly, Q3 GDP growth trimmed

* US 30-year mortgage rate slides to 6.67%, lowest since June   

* US inflation report to show Fed’s battle is now all but complete

* UK retailers report weak December sales, downbeat about January

FX: USD finally caught up with the new lows in Treasury yields by selling off down to recent cycle lows. The mid-December bottom is 101.77. Below here is a minor Fib level at 101.24. US inflation data in the form of the core PCE report is out later today.

EUR is once again trying to push above 1.10 after bullish consolidation yesterday. We had more ECB officials saying it was too early to talk about cutting rates. Guindos also highlighted wage growth as something that could delay the process. The recent top is 1.1017. A decisive break above here targets levels just under 1.11.

GBP dipped to 1.2612 before closing nearer to its highs for the day close to 1.27. There are few catalysts driving cable, apart from the dollar leg. Resistance sits at 1.2791/4.

USD/JPY fell through the 200-day SMA at 142.69 after its bearish inside day yesterday. The recent low is at 140.94. Attention will be on the November CPI figures released today. Fed cut pricing ramped up with six Fed cuts now fully priced.

AUD pushed north to fresh highs. The rebound in iron ore prices lifted sentiment. A strong close this week could see the summer highs around 0.69 challenged. USD/CAD dropped to more fresh lows below 1.33. Next support sits at 1.3262.

Stocks: US equities pared some of the previous day’s losses. The S&P 500 added 1.03% to settle at 4,747. The tech-heavy Nasdaq 100 finished 1.23% higher at 16,757. The Dow was up 0.87% at 37,404. Apple pulled watches from online stores to meet the US-ordered ban, according to Bloomberg.  A ban on Apple watches has been ordered in a patent technology fight. Wearables are meant to be the key focus for the tech giant next year, ahead of its iPhones.

Asian futures trade in the green. APAC stocks traded mostly lower after the downbeat Wall Street session. The ASX 200 briefly fell under 7,500 with the biggest losses in tech and gold.

Gold is looking to break decisively resistance around $2040 again. The falling dollar is helping gold bugs as are yields on the 10-yar Treasury well below 4%.

Day Ahead– US and Japan Inflation data

Consensus expect to see US PCE inflation cooling further in November after similar outcomes seen within the CPI and PPI reports. WSJ’s Fedwatcher Nick Timiraos says core PCE inflation is projected to have been a very mild 0.06% last month. That could see core PCE fall to 3.1% from 3.5% in October. It would also imply that the six-month annualised rate would have eased to 1.9%, below the Fed’s 2% price goal. A softer data print will put pressure on the dollar to break recent lows.

Japan national core CPI is forecast to cool to 2.5% in November from 2.9% in October. These expectations come as the November Core Tokyo CPI, which is seen as a preview of the nationwide release, saw a cooling of a similar magnitude from October. The drop is chiefly down to energy prices but will inform the BoJ on how persistent price pressures are. The yen could target recent lows on a stronger report.

Chart of the Day USD/CHF drops to long-term support

The Swiss franc is the best performing G10 currency this year, ahead of GBP and EUR. Safe haven demand has spurred some buyers through the year as the Israel-Hamas conflict continues to simmer. Prices dropped in July through a previous spike low from early 2021 at 0.8757. the bounce got to a Fib level before sellers stepped in. We are now back at major support again. The next major level below is the 2015 spike low around 0.83.