The last day of 2008 is here. Markets are becoming thinner and thinner, as New Years celebrations get closer. Yesterday’s big news was the  CB Consumer Confidence in the US, which is at a record low number of 38. Not only is it under 50 – which means contraction, it’s also well under the market’s expectations which were at 45.2.  Also the Chicago PMI was low, at 34.1. As we’ve seen recently, signs of economic weakness in the US are constantly lower than expectations. And don’t worry – those expectations are very modest.  EUR/USD is currently at 1.4095, USD/JPY is at 90.27, USD/CHF at 1.0553, and GBP/USD at 1.4465. Most majors haven’t made moves. Only the British pound continues to weaken. EUR/GBP still not at parity, but is “looking over the shoulder”.  Today’s major economic data from America is the Unemployment Claims. It’s expected to be at  575K, a little bit better than last week’s figure: 586K.  Other than that,  Crude Oil Inventories will be published. They are expected to drop by 1.4 million barrels bue to the recent fall in oil prices around the world. But the ongoing Gaza war that has sparked higher oil prices could impact this figure. In Australia, the monthly  Private Sector Credit rose only 0.4%, slightly lower than was expected. Despite this figure Australia continues to be one of the better off economies in the West. AUD/USD is at 0.6925. Just before the New Year celebrations begin in Europe, the ECB’s Jean Claude Trichet will speak. The Euro, which is looking for a direction, might be impacted by his speech, though the markets will be effectively closed at this time. Happy New Year! Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Daily Look share Read Next Unemployment Claims Better Than Expected – Dollar Rises Yohay Elam 13 years The last day of 2008 is here. Markets are becoming thinner and thinner, as New Years celebrations get closer. Yesterday's big news was the  CB Consumer Confidence in the US, which is at a record low number of 38. Not only is it under 50 - which means contraction, it's also well under the market's expectations which were at 45.2.  Also the Chicago PMI was low, at 34.1. As we've seen recently, signs of economic weakness in the US are constantly lower than expectations. And don't worry - those expectations are very modest.  EUR/USD is currently at 1.4095, USD/JPY… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.