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.
Janne Muta
Chief Market Analyst
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About Janne Muta, HotForex’s Chief Market Analyst
Janne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.
Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.
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