22.12.2015 - Activity on the market is falling, investors are waiting for the US GDP data
Currency trading and the euro. The price of euro stabilized after recent gains. It should be noted that the activity of investors on the market is reduced before the holidays. Thus, days off in Germany will begin on Thursday, and in the US on Friday. Today, the central event of the day will be the publication of the final report on the growth of US GDP for the 3rd quarter (13:30 GMT). A slight effect on the course of trading will have news on housing sales on the secondary market in the US (15:00 GMT). We maintain a medium-term negative outlook due to the expectation of further monetary tightening in the US and the program of quantitative easing in the Eurozone.
Currency trading and the British pound. The price of the British pound is consolidating after the recent stabilization. It should be noted that the previous decline was due to the strengthening of the US dollar after the Fed raising interest rates, as well as reduced likelihood of rising interest rates the of Bank of England in 2016 due to the slowdown in wage growth in the country and the pressure of low prices for commodities. Tomorrow will be published the final report on GDP growth in the UK in the third quarter, which will be in the focus of investors. Activity on the market is reduced before the long weekend. We maintain a medium-term negative outlook on the British pound.
Currency trading and the Japanese yen. The price of the Japanese yen is consolidated in anticipation of the final report on the growth of US GDP in the third quarter (13:30 GMT). The recent strengthening of the yen against the background of softer measures to stimulate the economy of Japan ended and now investors are likely to sell yen again due to the tightening of monetary policy in the United States and the expected strengthening of the US dollar against the euro. On Friday will be released a large block of macroeconomic statistics but investors' activity will be minimal due to the holidays in Europe and North America. We maintain a negative medium-term outlook on the yen.
Currency trading and the Australian dollar. The price of the Australian Dollar showed growth against the background of a slight correction in oil prices and the positive statistics in China. Thus, the index of leading economic indicators rose in November by 0.6%, against an increase of 0.3% in October. This fact points to the resumption of positive trends in China, which is positive for the Australian currency. Activity on the market is falling. We maintain a negative medium-term outlook for the Australian dollar.
Currency trading and the New Zealand dollar. The price of the New Zealand dollar rose in connection with the continuation of the upward momentum, rising price of the Australian dollar and positive statistics from China. Despite recent growth, we expect the resumption of the downward movement due to the difference in the monetary policy of the Fed and RBNZ. Commodities continue to fall, but the growth of the New Zealand economy remains stable. Tonight (21:45 GMT) will be published important statistics on the trade balance in New Zealand, which during the year pressed on the price of the New Zealand dollar, and this time may negatively affect it. Our medium-term outlook for the New Zealand dollar remains negative.