Liquidity remains low as Christmas holidays continue

Yesterday’s markets

29th December 2016

  • USD - Pending Home Sales m/m: -2.5%
  • JPY - BOJ Summary of Opinions
  • GBP - BBA Mortgage Approvals: 40.7K
  • CHF - UBS Consumption Indicator: 1.43

It was an extremely quiet day yesterday as the holiday season continues. Markets therefore were low in liquidity and with little data released, price action remained limited. GBP/USD continued to tick lower as the bearish Sterling tone remains.

Economists’ also remain bullish about the Dollar, with President Trump due to be sworn in next month and expectations the Federal Reserve will raise rates three times next year. Both of these reasons have added to the strong Greenback trend of late.

Today’s markets

28th December 2016

  • USD - Unemployment Claims
  • USD - Crude Oil Inventories
  • EUR - M3 Money Supply y/y: 4.8%

Today, the economic docket picks up slightly with two pieces of high tier data released from the States. US Unemployment Claims are scheduled to hit the wires at 13:30 UK time. Jobless claims are forecast at 277k, a slight uptick from last week’s worse than expected 275k. Shortly after, Crude Oil Inventories are released with market expectations of around 2.3M.

Have a good day.

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