Free Trial

A typical pre-Christmas trading session.......>

FOREX
FOREX: A typical pre-Christmas trading session with news light and price action
relatively muted.
- Germany's IFO data fared generally weaker than expected as the business
climate headline came in just below forecast. The USD trades modestly weaker at
the NY crossover, with attention turning to the US tax vote later today.
- EUR/USD's traded between $1.1777 - $1.1819 today and is well within recent
ranges. The pair now sits close to the 100DMA at $1.1804. Sterling has
underperformed slightly with EUR/GBP demand the key driver which now sits at
Gbp0.8826 after printing a high of Gbp0.8840.
- US housing data at 1330GMT is the main data release for the rest of the
session, but any news on the tax bill will be closely watched.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.