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23.12.2014 07:30

Foreign exchange market. Asian session: U.S. dollar trades stronger

Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

00:00 Japan Bank holiday

02:00 China Leading Index November +0.8% +0.9%


The greenback traded stronger against its major peers in Asian trade and continues to be supported by the FED's decision not to raise interest rates before April 2015 while other major countries are likely to maintain monetary stimulus. After yesterday's disappointing data on Existing Home Sales markets await a rush of U.S. data today. Analysts expect strong data further fuelling the U.S. dollar's climb. Third quarters GDP is expected to be revised up resulting in an annualized economic growth above 4% further highlighting the diverging economic and policy outlooks between the U.S. and Europe and Japan.

The Australian dollar continued its fall against the U.S. dollar currently trading at USD0.8103 with new lows at USD0.8087, the weakest since 2010 as falling commodity prices weigh on the nations growth outlook. Iron ore is trading close to 5-1/2 year lows. Markets await the Australian Leading Index being published late today at 23:00 GMT.

New Zealand's dollar lost against the greenback for a third. New Zealand's Trade Balance for November showed a reading of -213 compared to forecasts of -550.

The Japanese yen traded weaker during the Asian session back around USD120 reaching a new two-week low but still short of its 7-½ year low set earlier this month . Today there is a holiday in Japan.


EUR/USD: the euro added small gains against the greenback

USD/JPY: the U.S. dollar traded stronger against the yen

GPB/USD: The British pound lost against the U.S. dollar


The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

07:45 France Consumer spending November -0.9% +0.2%

07:45 France Consumer spending, y/y November -0.2%

07:45 France GDP, q/q (Finally) Quarter III -0.1% +0.3%

07:45 France GDP, Y/Y (Finally) Quarter III +0.8%

09:30 United Kingdom Current account, bln Quarter III -23.1 -21.1

09:30 United Kingdom BBA Mortgage Approvals November 37.1 37.3

09:30 United Kingdom GDP, q/q (Finally) Quarter III +0.7% +0.7%

09:30 United Kingdom GDP, y/y (Finally) Quarter III +3.0% +3.0%

09:30 United Kingdom Business Investment, q/q (Finally) Quarter III -0.7% -0.7%

09:30 United Kingdom Business Investment, y/y (Finally) Quarter III +6.3% +6.3%

13:30 Canada GDP (m/m) October +0.4% +0.1%

13:30 U.S. PCE price index, q/q Quarter III +2.2%

13:30 U.S. PCE price index ex food, energy, q/q Quarter III +1.4%

13:30 U.S. Durable Goods Orders November +0.3% Revised From +0.4% +3.0%

13:30 U.S. Durable Goods Orders ex Transportation November -1.1% Revised From -0.9% +1.1%

13:30 U.S. Durable goods orders ex defense November -0.6%

13:30 U.S. GDP, q/q (Finally) Quarter III +3.9% +4.3%

14:00 Belgium Business Climate December -6.1 -5.8

14:00 U.S. Housing Price Index, m/m November 0.0% +0.3%

14:00 U.S. Housing Price Index, y/y November +4.3%

14:55 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) December 93.8 93.5

15:00 U.S. Richmond Fed Manufacturing Index December 4 8

15:00 U.S. New Home Sales November 458 461

15:00 U.S. Personal Income, m/m November +0.2% +0.6%

15:00 U.S. Personal spending November +0.2% +0.5%

15:00 U.S. PCE price index ex food, energy, m/m November +0.2% +0.1%

15:00 U.S. PCE price index ex food, energy, Y/Y November +1.6%

21:30 U.S. API Crude Oil Inventories December +1.9

23:00 Australia Conference Board Australia Leading Index October -0.3%

Market Focus

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