FX News Today

Today’s trading session will be quiet, as Japanese markets are closed to celebrate the Emperor’s Birthday. We may see some activity around the CAD later today upon the release of the Canadian Core Retail Sales and GDP data. In over night trading, Asian equity markets closed the session mostly higher, while U.S. stocks charged higher posting gains of nearly 1% for the session.

The major USD currency pairs continued to lack direction without any market catalyst on tab to jolt the USD in any meaningful direction. EURUSD remains in a tight range within the 1.09s after marking a one week high near 1.0980′s yesterday. USDJPY also appears to be in a narrowly range around 121.00 for a third day, with the sharp volatility seen in the wake of last Friday’s BoJ policy fading away.

Industrial metals and oil prices have been moving higher, as investors’ confidence about the growth prospects in the U.S. and China increases.

Main Macro Events Today

• JPY Japan : Bank Holiday

• GBP United Kingdom Final GDP: Q3 expected to be confirmed at 0.5% q/q and 2.3% y/y

• CAD Core Retail Sales: Analyst expect retail sales values, due later today, to improve 0.8% in October (median 0.6%) following the 0.5% drop in September. The ex-autos sales aggregate is expected to gain 0.5% m/m in October (median +0.5%) after the 0.5% pull-back in September. Gasoline prices fell 2.0% m/m in October, a comparatively modest pull-back compared to the 7.9% plunge in September according to the CPI. Hence, we should see an only modest drag from gas station sales on total and ex-autos sales. Moreover, gasoline prices remain very low relative to a year ago, which could continue to underpin spending along with low interest rates. Vehicle sales were firm through November, which should be supportive of total sales in both October and November.

• CAD October GDP: Analyst expect GDP, due Wednesday, to rise 0.2% in October (median +0.3%) after the 0.5% plunge in September. The projection is driven by an expected boost from the return to production of an oil sands producer that was off-line due to fire in September. That boost is seen offsetting drags from manufacturing, wholesale and housing. But the expected boost from the oil sand producer could be tempered by temporary closures at other refineries (notably Irving Oil in St. John).

• U.S. Durable Goods: November durable goods data is out Wednesday and should reveal a 1.5% (median -0.7%) decline in orders for the month with inventories and sales both remaining unchanged in November. This follows respective October figures of 2.9% for orders with shipments down 1.0% and inventories down 0.3%. Data in line with this forecast would leave the I/S ratio steady at 1.65 from October.

• U.S. Personal Income: November personal income is out Wednesday and analyst expect a 0.3% (median 0.2%) increase in headline income with consumption up 0.3% (median 0.3%) as well. This would follow October figures of 0.4% for income and 0.1% for consumption which prompted a bounce in the savings rate to 5.6% from 5.3% in September. For price data analyst expect the PCE Chain Price Index to remain unchanged with the core up 0.2%, matching the November CPI figures.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

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Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

FX News Today

German and U.K. GfK consumer confidence unexpectedly improved with the EURUSD seeing a minor rally from lows under 1.0850 to near 1.0940 in Monday’s trade. However, price still remains below the 10 day moving average. Meanwhile, the GBPUSD price trades just above the 1.4880 support level at the time of writing.

Crude oil prices remain fragile in the face of unrelenting supply; USOil price is trading higher today with prices just under $36 at the time of writing, the lower USD this morning has supported oil prices.

Gold has been moving higher as a softer U.S. dollar activated short covering. Global stock markets are mixed with strong gains in the U.S., Japan’s Nikkei 225 closing slightly lower, while European stock exchanges closing lower by 1%+. Asian stock markets have closed mostly higher, as U.S. and U.K. stock futures did. This points to gains on European markets at the open after the Monday European market sell off, as the traditional Christmas rally continues.

The U.S. calendar data reports today aren’t likely to have much impact, as attention turns to Christmas and the New Year holidays.

Main Macro Events Today

• U.S. Richmond Manufacturing Index: Analyst expect an improvement to 0.0 from -3.0 in November. The Empire State and Philly Fed are already out and showed mixed headline performance which would indicate another month of depressed sentiment.

• USD Final GDP: Analyst expect Q3 GDP to be revised down to 1.8% from 2.1% in the final report, following 3.9% growth in Q2. Forecast risk: downward, given the huge inventory boost that is being unwound with data revisions. Market risk: downward, as weakness may delay Fed tightening assumptions for 2016.Inventories are expected to be revised down by $10 bln.

• USD Housing Price Index: Analyst expect existing home sales to rise 0.7% to a 5.400 mln unit rate in November following the 3.4% October decrease to 5.360 mln units. Forecast risk: downward, as NAHB declined in November. Market risk: downward, as a run of weaker data could impact rate hike time lines. The pending home sales index should grow by 0.3%.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

FX News Today

The big news in overnight trade revolves around the Bank of Japan. In a sign of some serious desperation, the BoJ has announced that it will start buying more Exchange Traded Funds (ETF’s) and extend the duration of the bonds it buys in its QQE program. The central bank also noted that it will start accepting foreign currency bonds and housing mortgage loans as collateral. The announcement sparked volatility in Japanese markets; before the BoJ announcement the Nikkei 225 was trading lower, however rallied higher on the news to end strongly up 2.7%. At the same time, the USDJPY spiked to around 100 pips to a 123.55 peak before tumbling to a 121.70 low.

European data calendar is pretty empty today; on tap we have the Eurozone current account. The EURUSD fell close to the two week lows of 1.0802, falling from session highs of 1.0913.

The excitement of the Fed rate hike has been absorbed, and the USD is now trading modestly lower against most other currencies, however, remains stronger for the week.

U.S. equities closed the session near lows after the earlier drop with the price of crude oil.

Later today watch for some price action around the CAD upon the release of the Canadian Core CPI.

Main Macro Events Today

• JPY Monetary Policy Statement: The Bank of Japan kept its Monetary Base on hold; however a new program was announced which will see the BoJ purchasing additional ETF’s.

• CAD Canada Wholesale: Analyst expect wholesale shipments, due today, to rise 0.5% in October (median after the 0.1% dip in September. This report is typically overlooked, but an as expected bounce would be supportive of a rebound in October GDP. Analyst expect GDP to rise 0.2% in October after the 0.5% plunge in September.

• Canada CPI: CPI, due today, is expected to expand at a 1.4% y/y pace in November (median +1.5%), accelerating from the 1.0% rates in September and August. CPI is seen flat on a month comparable basis in November (median +0.1%) after rising 0.1% in October. Gas prices fell 1.5% in November compared to October, which is expected to weigh on month comparable CPI. The BoC’s core CPI index is seen falling 0.1% m/m in November after the 0.2% and 0.3% gains seen in August, September and October. Annual core CPI growth is expected to expand at a 2.2% y/y rate in November (median +2.3%) following the 2.1% growth clips in August, September and October. The expected core CPI figure would, of course, leave the measure above the BoC’s 2.0% midpoint. However, Governor Poloz has maintained that run-up is transitory and not reflective of a tightening in supply conditions. Hence, the November report will not threaten the Bank’s dovishly constructive tone or the view that ongoing accommodative policy is required to bring the economy back to full capacity growth.

• USD FOMC Member Lacker Speaks.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Free Forex Signals for 12.17.2015

FX News Today

The USD is trading stronger across the board after the U.S. Fed’s 25 basis point rate hike, Janet Yellen said the Fed’s rate hike is a sign that the economy is on the path of sustainable improvement.

Global stock markets are trading higher, the S&P 500 closed 1.5% , while in Asia Japan’s Nikkei 225 closed up with a gain of 1.6%, at the time of writing EU markets are all trading higher.

Commodity prices are mostly weaker after the U.S. Fed opened the door for future rate hikes. WTI Crude Oil is down around 1.15%, while Gold is trading nearly 1% lower on the day at the time of writing.

The Norwegian central bank left the key deposit rate steady at 0.75%, but said rate may be reduced in the first half of next year.

Draghi is keeping the door open for additional easing, the ECB is ready to use all tools if necessary, the editorial of the European central bank’s Economic Bulletin brought few surprises and was once again a close repeat of Draghi’s central message from the last press conference. It said the “governing council will closely monitor the evolution in the outlook for price stability and, if warranted is willing and able to act by using all the instruments available within its mandate in order to maintain an appropriate degree of monetary accommodation”.

The Chinese Yuan weakens for 10 day’s in a row, this has helped support local stocks , as the weaker currency will underpin exports. The People’s Bank of China is likely to continue its effort to stabilize the Yuan against a basket of currencies and will look for a gradual depreciation against the USD, after the Fed’s move. Exports remain weak and fell for a fifth months in November as global demand remains tepid. As China remains on course for ongoing monetary accommodation, while the Fed has started the tightening cycle, the differences in policy stances will underpin further Yuan weakness.

Main Macro Events Today

• EUR German Info Business Climate: The German Ifo business climate disappointed, with the headline reading unexpectedly falling to 108.7 against expectations for a steady reading of 109.0. The breakdown showed that the dip was due to a decline in the current conditions indicator, which fell to 112.8 from 113.4. The more forward looking expectations index remained steady at 104.7, after rising in the previous three months. The diffusion index, which gives the balance of positive and negative answers, fell back to 10.4 from 10.9 as confidence in the construction industry declined in tandem with whole sale and retail confidence. Still optimists continue to outnumber pessimists in all sectors and the stable expectations reading means the number is not as negative as the headline reading suggests, especially as numbers remain at high levels.

• GBP U.K. November retail sales: reported much stronger than expected, with sales up 1.7% m/m, against analyst median forecast for a rise of 0.6% m/m. The annual rate jumped to 5.0% y/y and October data were revised higher to 4.2% y/y from 3.8% y/y reported initially. More signs that the U.K. recovery remains on track, which will keep the implicit tightening bias at the BoE in place, although the bank clearly is in no rush to follow the Fed, as wage growth and inflation remains low.

• USD U.S. Current Account: Current account data for Q3 is out Today and should show a headline decrease to -$122 bln (median -$120 bln) from $109.7 bln in Q2 and -$118.3 bln in Q1. As a percentage of GDP this would represent a -2.7% figure which compares to -2.4% in Q3 and -2.7% in Q1. The Q3 trade deficit was -$9.6 bln from a $6.6 bln surplus in Q2.

• USD U.S. Philadelphia Fed Index: December Philly Fed is out today and should have the headline rising to 3.0 (median 1.5) from 1.9 in November. The already released December Empire State Index posted an increase to -4.6 from -10.7. More broadly, analyst expect producer sentiment to trend sideways in December with the ISM-adjusted average of all measures remaining steady at 50 for a fourth month since first reaching that figure in September.

• USD U.S. Initial Jobless Claims: Claims data for the week of December 12 are out Thursday and should reveal a decline to 280k (median 273k) from 282k in the week of December 5 and 269k in the week before that. Claims are continuing to strike firm levels and analyst expect December data to extend the 270k average set by the headline in November. Accompanying this, analyst expect to see a 200k non-farm payroll headline in December that just slightly undershoots the 211k headline from November.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.