In yesterday’s trading sessions, the US dollar strengthened against most currencies. The USD/JPY is back over 90, EUR/USD is under 1.40 and the GBP/USD is a little above 1.48.
In New Zealand, the GDP retracted, but not as bad as expected: 0.4%. That did little to move the NZD/USD, currently at 0.5742.
Today, there a few interesting figures: the current account will be published in the Eurozone, and also in the UK. Both are expected to be negative. In France, the French Consumer Spending will be of interest to traders of the EUR/USD.
And later on today, a few major figures will be published in the USA: starting at 13:30 GMT with the final GDP for the last quarter. It is widely expected to decline by 0.5%.
At 14:55 GMT, the Revised UoM Consumer Sentiment will be published. Although it’s the revised figure, and the early initial figure, it will be of interest to traders, which expect 58.5 points. Together with the Revised UoM Inflation Expectations, the University of Michigan will be in the limelight today.
And the cherry on the pie toaday is just 5 minutes later: Existing Home Sales and New Home Sales are considered to be major, especially with the real estate market being the 4.90M and NEw Home Sales at 417K.
Another event today that could be of interest to traders, is the speech delivered by the ECB President Jean-Claude Trichet. It’s due at 17:30 GMT. Though his speeches usually don’t shake the markets, the Euro, which is seeking a direction, might be moved by his words.
So, today is the last significant day of trading before Christmas.
Merry Trading!
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