The final countdown

14 December, 2015

This is the last full trading week of the year and in many ways, the most anticipated, given that the US FOMC is widely expected to increase interest rates for the first time since June 2006. It’s not a done deal, with markets pricing in around a 75% probability of a move. There are no major hurdles on the data front likely to impact that between now and Wednesday evening and the focus will fall more onto the message from the accompanying statement. That could have more influence on the way FX markets settle at the end of the week rather than the decision itself. Over the weekend, we saw some better data readings from China, with retail sales rising 11.2% YoY up to November and industrial production firmer than expected at 6.2%, from 5.6% in the previous month. Perhaps it’s not a coincidence that we’ve seen a reversal of the run of weaker yuan we’ve seen over the past few sessions, although the fixing was higher on USDCNY once again. For volatility though, nothing can beat the South African Rand over the past few sessions, with the appointment of another finance minister over the weekend, after he fired the incumbent on Wednesday, with his replacement lasting a mere 4 days. The rand is up more than 5% in early trading against the US dollar, but has to appreciate another 3.5% before regaining the levels that were prevailing ahead of this affair.

For today, we’re likely to see a relatively calm start to the week, with no key data releases scheduled. Stocks markets are starting the week on a firmer footing after the losses seen at the end of last week, whilst oil prices are still very near to multi-year lows. This is further impacting the oil exporting nations, the Canadian dollar and Norwegian Krone having both been under pressure of late. The Canadian dollar has stabilised a little, but continues to trade at more than 11 year highs on USDCAD.


Source link  
UK Consumer Price Index data

Eurozone Markit Manufacturing PMI (May) is expected to come in at 56.0 from 56.2 previously. Markit Services PMI (May) is expected at 54.6 v 54.7 previously...

FOMC Members will be speaking today

This shows a healthy economy with the 2018 average at a higher level than previous years. Slip under zero can cause a market reaction but is not...

Fed Speakers Take Centre Stage

Fed Member Mester is due to speak at the Central Banking Series hosted jointly by the Global Interdependence Center and Bank of France, in Paris...


Markets Steady Ahead of Euro Open

After further increases in stock markets yesterday, the market is pausing and consolidating ahead of European trading. Asian equity markets are in the green...

Oil Inventories to Show a Draw

Expectations (Apr) are expected to be released with a prior reading of 16.7. This data has been weakening since a reading of 52.0 was recorded in...

Chances of RBA Rate Hike

NZDUSD bucked the trend overnight, as most other currencies managed to retrace some of their declines against the USD. The pair hit fresh...


Consumer Sentiment Index Close to Higher

US Fed Boston President Rosengren is due to deliver the keynote speech on the economic outlook, at the Greater Boston Chamber’s Economic Outlook Breakfast...

Chinese president soothes worries

With US Producer Prices data on the way this afternoon, and predicted to be largely as expected, the morning session will be dominated by central bankers...

Markets fall after more tariffs proposal

Friday's session is expected to be volatile, with Non-Farm Payrolls (13:30 UK Time) ahead and President Trump’s proposal for an additional $100B...


In the past 24 hours Bitcoin has lost -5.55% and reached $7571.65. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.6235% and is now at $1.1765. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -16.93% and is now at $587.177. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets89%
2FXTMFXTM88%
3HYCMHYCM86%
4FIBO GroupFIBO Group81%
5FxProFxPro78%
6FXCMFXCM71%
7HotForexHotForex70%
8XMXM69%
9Alfa-ForexAlfa-Forex68%
10Grand CapitalGrand Capital65%
  


Share: