Liquidity remains low as Christmas holidays continue

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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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Global Reach Group Limited (company number 09907831), Global Reach Partners Limited (company number 04344764), Global Reach Markets Limited (company number 07026070) and Foreign Currency Exchange Limited (company number 5452483) are all part of the Global Reach corporate group. All companies are registered in England with their registered office at 2nd Floor, Woolgate Exchange, 25 Basinghall Street, London, EC2V 5HA. Global Reach Partners Limited is authorised by the Financial Conduct Authority (FCA) as an Authorised Payments Institution (FRN 504315). Global Reach Markets Limited is authorised and regulated by the FCA as an investment firm (FRN 526549). Foreign Currency Exchange Limited is authorised by the FCA as an Authorised Electronic Money Institution (FRN 900205).