Gold lost 10% for 2015

On Monday, the yen managed to retrace its losses from the prior five days, the USD/JPY major remaining although capped in the 120.60 area the pair’s consolidation phase is undergoing, all shadowed by a low liquidity reading. The day started with the release of Japan’s industrial production figures, showing a fall of 10% for the month of November, with an expected value of -0.6%. Retail sales for Japan were release later in the day, showing a drop at 1.0% annual rate. Looking over the trend’s evolution, we can see that USD/JPY went down just over half a cent to reach 120.62, from the 121.10 handle. Due to the absence of first-tier data release in the forthcoming schedule and no fundamental drivers, majors are expected i the last few days of 2015 to track the equity’s markets sentiment.

Tuesday starts with a drop in EUR/USD in the early New York session without any apparent catalysts to drive the change, supported also by thin trading volume. The major went down over 60 pips just like that as the USD challenged the European currency. EUR managed to hold off the decline above the 1.0900 handle, trimming losses afterwards. With a daily low at 1.0908, the EUR/USD closed around the 1.0935 threshold with a rough 0.3% under the opening price. The data release focuses around the US goods trade deficit, which extended to $60.5 billion last month. The Standard and Poor / Case Shiller home price index went up 5.54% on an annual basis in October with an expected 5.4%. December’s consumer confidence reached higher at 95.6, over the forecasted 93.8 and also higher than last month’s 92.6 (revised from 90.4). The EUR/USD is trading in the expected ranges is spite of the intraday volatility heightened by low volumes, the trend consolidating between 1.09 and 1.10 after Fed’s rate hike and the expected future increase.

Black gold prices rallied yesterday, with both West Texas Intermediate (WTI) and Brent barrels gaining in the vicinity of 3% and erasing Monday’s selloff. February’s WTI went up 2.8% reaching a trade value of $37.84 per barrel, after a loss of 3.39% the day before as a result of the global supply glut. Meanwhile, Brent’s February future went up around 3% at $37.74 per barrel after Monday’s 3.35% fall.

The yellow metal prices also advanced yesterday, reaching a high of $1,075/ounce. The gains although failed to sustain and gold closed the day 0.1% under the starting price at $1,068 an ounce. Over the entire month of December, gold is on the way to post a 0.3% gain, but the annual decline is at about 10% for 2015, marking it as the third losing year in a row.