Dec. 18: MARKET OVERVIEW
USD: remains on strong positions after yesterday’s advance versus the major currencies. The Fed is expected to raise interest rates next year after removing a pledge to keep them low for a “considerable time.”
EUR/USD: is trading in the 1.2340 area after falling by more than 160 pips on Wednesday. German Ifo Business Climate is due at 09:00 GMT (forecast: 105.6). Today is the first day of the EU economic summit.
GBP/USD: is trading below 1.5600. Britain will release retail sales at 09:30 GMT (forecast: +0.3%).
USD/JPY: recovered to the levels just below 119.00.
AUD/USD: recovered a bit from a 4 1/2-year low just above 0.8100 hit yesterday as a gain in Asian stocks spurred demand for higher-yielding assets.
NZD/USD: managed to return back above 0.7700 as New Zealand’s GDP came out higher than expected (+1.0% vs. forecast of +0.7%).