Search ForexCrunch

Consumer confidence is back up: 92.6 after an upwards revised 91 points in November. However, this is short of expectations.

Currencies seem little moved by the publication. Traders may  already be  thinking about  the New Years’ party.

US CB  consumer confidence was expected to rise  to 94.6 points in December from 88.7 in November. It was expected to follow the excellent UoM consumer confidence number that reached the highest levels since early 2007. The falling oil prices, which are felt by consumers across America during this holiday season are one of the drivers of stronger confidence.

Earlier, the Case Shiller HPI rose by 0.76% m/m, better than 0.4% expected. Year over year, it is up 4.5%, a more moderate pace than 4.82% seen in the previous month.

We are one day before the end of the year and volumes are very low. However, we have seen some movements in markets: EUR/USD fell on Greek worries and USD/JPY dropped on a correction in the pair.

More:  Is 1.20 Imminent in EUR/USD as Greece votes? – UBS, ANZ