Trading Christmas in the forex markets: Forex traders are trading Christmas in 2018
Forex trading is not only happening this Christmas but also for months in the future, forex traders say.
Read more”I think that there is a lot of Christmas-related activity, trading in a lot more forex-related products, and that is going to continue,” Andrew Lohmann, chief investment officer at Capital Markets Advisors, told ABC News.
The biggest holiday shopping spree in recent years has led to an increase in the amount of money trading in forex.
The price of gold rose by more than $4,000 in the first nine days of 2018, a 24.3% increase over the same period last year.
In contrast, the price of oil surged by more $4.7 billion, or 9.6% in the same time period last season.
Forex trading was particularly high on Christmas day as the global economy was booming.
Forex market leaders like Citigroup said on Monday that the holiday season was a great time to take on a trading position.
“Christmas is a great opportunity for trading,” said Citigroup analyst Matthew McGovern.
“It is a time when people look to invest in stocks, where the fundamentals of the markets have been strengthened and where the stock market is trending higher.”
On Monday, Citigroup was forecasting a $4 trillion market capitalization in the third quarter of 2018.
Gold prices rose after the government cut its interest rate last week, giving traders hope that the US economy would expand in 2018.
In January, the Dow Jones industrial average was up 1.2%, while the S&P 500 was up 0.7%.
The rise in gold prices was the biggest one-day rise since April 2018, when the metal soared nearly 7%.
The price is up more than 25% from a year ago.
Gold and silver futures are also up significantly.
The silver price surged 6.4% from $2,300 an ounce on Tuesday to $2.831 an ounce late Monday, according to Spotrac.
Gold futures for the next 12 months are trading at around $1,890 an ounce, while the silver price is trading at $1.939 an ounce.
Traders can buy silver, which trades for around $35 an ounce in futures, for about $1 per ounce.
Silver futures for gold are about $2 per ounce, compared to about $3.50 per ounce for gold.
“The gold market is at a record high and the silver market is going higher,” Lohman said.
“The bull market is over and the bear market is not over, so the next bull market will be even bigger than the last one.”
Citigroup, a major forex trading house, said in a statement on Monday it expects “a substantial uptick in the demand for silver in 2018.”
The government is also forecasting that growth in global economic activity and investment could boost the US stock market.
Citibank analysts said in the statement that this could lead to an “improved ability to capture inflationary momentum in the economy.”
On Tuesday, the CBOE Volatility Index (VIX) rose by 2.6%.
“The potential for a sustained upward trajectory in economic growth in 2018, particularly during the holiday period, has driven the Dow to new highs,” the analysts said.
Gold also jumped in 2017, according the CBOe.
The S&s 200 index also rose after last week’s cut in interest rates.
The Nasdaq composite index also surged on Tuesday.
The Dow Jones Industrial Average (DJIA) gained 2.4%, the S, S+1, Nasdaq, S&P 500, Russell 2000, Russell 1000, and the Russell 3000 indexes each gained 1.6%, the CBOs index gained 2%, and the Dow’s dropped 0.4%.