FOREX Technical Analysis Review 15th Dec

Posted: December 15, 2014 in Uncategorized

coloured-currencies-3.originalThe EUR/USD added 23 points to trade at 1.2430 after a day of surprisingly good data. The ECB is currently buying covered bonds and asset-backed securities and will consider a quantitative-easing package at its next meeting in January. Eurostat, the drop in industrial production in November was led by energy, down 1.9 percent, and capital goods, down 0.2 percent. It said output fell in France, Spain and Italy, while it stagnated in Germany, the region’s largest economy.
The pound trade at 1.5727 on Monday .The US dollar is expected to remain strong this morning as the US has avoided a government shutdown and approved a 1.1 trillion dollar budget in a weekend session. US dollar traders are now waiting for the FOMC meeting which begins tomorrow.
The Aussie tumbled 25 points this morning to trade at 0.8221.Australian Treasurer Joe Hockey earlier said that the underlying cash deficit will deteriorate to A$40.4 billion in the fiscal year ending June 30, 2015, compared to May’s estimate of A$29.8 billion. Australia’s government also forecast an unemployment rate of 6.5% by mid 2015, up from the May projection of 6.25% .
USD/JPY was down 0.38% to 118.33, off Friday’s highs of 119.19, and well below the seven-year peaks of 121.83 struck last Monday. The yen pushed higher against the dollar on Monday as steep falls in Japanese equities markets overnight boosted demand for safe haven assets, as concerns over falling oil prices and uncertainty ahead of this week’s Federal Reserve meeting fuelled risk aversion.
Data Update for 15th Dec 2014

Time Currency Impact Particualar Forecast Previous
4:46am GBP Rightmove HPI m/ma -1.70%
5:20am JPY Tankan Manufacturing Index 13 13
JPY Tankan Non-Manufacturing Index 14 13
6:00am AUD New Motor Vehicle Sales m/m -1.80%
7:54am AUD High Mid-Year Economic and Fiscal Outlook
13:45:00 CHF PPI m/m 0.20% -0.10%
4:30pm EUR German Buba Monthly Report
GBP CBI Industrial Order Expectations 3 3
7:00pm USD Empire State Manufacturing Index 12.1 10.2
7:45pm USD Capacity Utilization Rate 79.40% 78.90%
USD Industrial Production m/m 0.80% -0.10%
8:30pm USD NAHB Housing Market Index 59 58

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