Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815

email: sales@tradersway.com

Join Us in Just 1 Minute!

Download MT4
MT5 Terminal

Forex Major Currencies Outlook (Dec 14, 2016)

USD

Dollar pairs were stuck in their ranges as traders are feeling anxious ahead of the FOMC statement.

There are a number of ways Fed head Yellen and her group of policymakers could play this, although many are expecting them to combine the rate hike with cautious remarks. Still, any upgrades in their economic projections or indications that rate hikes are possible early next year could drive the dollar higher. Retail sales and PPI data are due ahead of the Fed decision.

EUR

The euro also traded mostly sideways as data from the region came in mixed. German WPI, ZEW economic sentiment, and euro zone quarterly employment change data fell short of expectations but the region's ZEW index came in stronger than expected by rising from 15.8 to 18.1. French final CPI and euro zone industrial production numbers are due today but traders could pay closer attention to updates from Italy's banking sector.

GBP

The pound got a bit of a boost from better than expected inflation reports. Headline CPI was up from 0.9% to 1.2%, outpacing the 1.1% consensus, while core CPI advanced from 1.2% to 1.4% versus the 1.3% forecast. RPI also beat expectations but HPI and PPI input prices fell short. UK jobs data is due today and the claimant count could post a 6.2K gain while the jobless rate could hold steady at 4.8%. The average earnings index could stay unchanged at 2.3%.

CHF

The franc was unable to establish a clear direction since there were no major reports out of Switzerland. Traders also appear to be easing up on their franc positions ahead of the SNB statement later this week, as the central bank could reiterate its plans to intervene in the currency arena if necessary.

JPY

The yen chalked up a few more losses before making a small recovery later in the day. The Tankan manufacturing index climbed from 6 to 10 as expected while the non-manufacturing index held steady at 18 instead of improving to the consensus at 19. Yen pairs could take their cue from USDJPY price action during the FOMC statement later today.

Commodity Currencies (AUD, NZD, CAD)

The comdolls edged higher against the yen and the dollar as risk appetite seemed to stay in play. Australia reported a 3.9% slump in Westpac consumer sentiment for December while new motor vehicle sales dipped 0.6% in the previous month. Data from China was mostly stronger than expected, led by the jump in retail sales from 10.0% to 10.8% year-over-year. US crude oil inventories are due next.

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro/pl
Quotations
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

2023 Martin Luther King Holiday Schedule

Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....

Learn more

Join Us in Just 1 Minute!

Download MT4MT5 TerminalMetaTrader for Mac
TradersWay's Facebook TradersWay's Telegram Channel TradersWay's Twitter TradersWay's Instagram
bob@tradersway.pro/pl