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00:01 United Kingdom BOE Quarterly Bulletin Quarter IV
00:05 United Kingdom Gfk Consumer Confidence December -12 -11 -13
02:00 New Zealand Credit Card Spending November -0.8% +3.5%
03:30 Japan BoJ Interest Rate Decision 0.10% 0.10% 0.10%
03:30 Japan Bank of Japan Monetary Base Target 270 270 270
03:30 Japan BoJ Monetary Policy Statement
The U.S. Dollar Index touched its highest level in two weeks amid prospects the Federal Reserve will continue to dial back monthly bond buying after announcing a $10 billion cut. U.S. gross domestic product rose at a 3.6 percent annual rate in the third quarter, the strongest since the first quarter of 2010, a Commerce Department report today will confirm, according to the median estimate in a Bloomberg News survey. A report Dec. 23 will show personal income and spending accelerated in November, separate polls forecast.
The euro fell a third day to its lowest since Dec. 6 as traders speculated the European Central Bank will need to loosen monetary conditions to support the region’s fragile recovery. ECB President Mario Draghi said Dec. 16 low there are risks from long periods of low inflation and policy makers have tools to address this, including “several other instruments on the liquidity front.”
The yen held declines against most major peers after the Bank of Japan retained its plan to add 60 trillion yen ($575 billion) to 70 trillion yen a year to the monetary base. BOJ policy makers, led by Governor Haruhiko Kuroda, said following a two-day policy meeting that they will continue easing until 2 percent annual inflation is stable. The BOJ will examine the risks and make policy adjustments as needed, according to a statement. Most economists surveyed by Bloomberg News anticipate the central bank will escalate its stimulus after the national sales tax is raised in April.
EUR / USD: during the Asian session the pair fell to $ 1.3630
GBP / USD: during the Asian session, the pair traded in the range of $ 1.6350-70
USD / JPY: during the Asian session, the pair rose to Y104.60
UK public borrowing data and the Q3 GDP third reading due at 0930GMT, ahead of BOE Haldane speaking at 1100GMT, provides the morning's interest. Sterling retains an underlying buoyant tone with most expecting the pound to make further gains versus the euro.
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