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The dollar retreated from yesterday's low before reports forecast to show orders at U.S. factories grew and the nation’s services industry expanded, damping demand for safer assets.
Federal Reserve officials said they will start announcing their own predictions for the central bank’s key interest rate, according to minutes from last month’s Federal Open Market Committee meeting released yesterday.
The euro weakened versus the yen for the eighth time in nine days amid concern the region’s sovereign-debt crisis will dent growth.
EUR/USD: the pair was limited $1,3020-$ 1,3060.
GBP/USD: the pair was limited $1,5620-$ 1,5660.
USD/JPY: the pair was limited Y76,60-Y76,80.
Today sees the release of the final services PMI releases for December, which are expected to confirm the preliminary readings, including the EMU data at 08:58 GMT. At 10:00 GMT, flash EMU HICP is expected to come in as low as 2.6%.
UK Markit/CIPS Construction PMI is due at 09:30 GMT, at the same time as Bank of England lending data, including Lending to Individuals, Mortgage Approvals, Net Secured Lending, Consumer Credit and also Final M4 data. The BBA mortgage approvals data, which are taken from the major
banking groups and so make up the bulk of the BOE figures, showed a 1.3% fall on the month in November. Which makes the median forecast for a
broadly unchanged reading in the BOE approvals data to 53k look optimistic.
At 15:00 GMT, US factory new orders are expected to rise 2.2% in November, as durables orders were already reported up 3.8% on a spike in aircraft orders and nondurables orders are expected to rise on higher energy.
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