29 December, 2015
FX News Today
The USD majors continued to trade in narrow ranges, strong stock markets in Asia coupled with a recent rebound in diary prices have helped underpin the New Zealand dollar, the NZD continues it’s multi-week rally against the USD gaining nearly 450 pips since mid November. The EURUSD, meanwhile, remained in the mid-1.09s, below yesterdays near two week high at 1.0992, and USDJPY has remained above yesterday’s two-month low at 120.16.
The European calendar is once again very quiet, with only Italian consumer and business confidence numbers of note. There remains little data on tap from the Central Banks as we move closer to the end of 2015.
U.S. calendar has the trade in goods, home price index, and consumer confidence, the focus will be on the Consumer Confidence report.
Asian markets moved higher, with banks leading stocks to the eighth straight day of gains, at the time of writing U.S. stock futures are in positive territory.
Oil prices are slightly higher, with USOil trading just under the 37 per barrel mark.
Main Macro Events Today
USD U.S. Consumer Confidence: December consumer confidence is out later today and analyst expect to see a headline increase to 94.0 from 90.4 in November. Along side the headline, analyst expect current conditions t o rise to 110.0 from 108.1 and current conditions to improve to 83.4 from 78.6.Michigan Sentiment improved in December with a climb to 92.6 as of it’s second release from 91.3 in November and the IBD/TIPP poll rose to 47.2 from 45.5.
U.S. trade tariffs tightened market conditions. Coeure said that “while the effects of any tariffs on output and inflation may take time to materialise, falls...
China and Hong Kong alongside other markets were closed for Lunar New Year holidays, which muted trading, but the Nikkei gained 1.19%...
The U.S. currency has been correlating inversely with global stock market direction of late on the causation that risk-on phases have seen investors...
U.S. personal income rose 0.3% in November with spending up 0.6%. The 0.4% increase in October income was not revised. The 0.3% spending increase..
The FOMC meeting is front and center this week following the solid November jobs report on Friday, which provided the final bit of cover for...
Asian stock markets headed south again, as declines and energy and mining stocks led shares lower amid a further drop in metal prices. Concern China’s regulators may limit the flow...
The rout on Chinese bond and stock markets that dominated Thursday’s session faded and the Nikkei managed a 0.12% gain as the yen...
After a couple of panicky moments in global equities over the past week, the markets will keep a wary eye on political developments. In Washington...
A round of positive earnings from U.S. companies reports and progress on the U.S. tax reform plan underpinning risk appetite. The Hang Seng...