23.12.2015 - The course of trading will affect data from the US
Currency trading and the euro. The price of euro yesterday showed growth, but towards the end of the session began to correct downwards due to lack of strength of bulls. It should be noted that the final report on the growth of US GDP showed the economy growing by 2.0% year on year in the third quarter, versus 2.1% previously. It is worth noting that today will be published important statistics in the United States. So, special attention should be paid to the volume of orders for durable goods, personal income and consumer spending (13:30 GMT) and new home sales and consumer confidence in the country (15:00 GMT). Activity on the market has fallen before Christmas. We maintain a medium-term negative outlook on the euro and expect increased volatility today.
Currency trading and the British pound. The price of the British pound continued its decline yesterday, and reached its lowest levels since April, which was caused by the publication of statistics on the country's public sector borrowing, which in November totaled 13.6 billion pounds against 6.7 billion in October. Today will be published the final report on GDP growth in the UK in the third quarter, as well as statistics on the balance of payments and the volume of business investment in the country (9:30 GMT). We maintain a medium-term negative outlook for the pound, but do not rule out price correction.
Currency trading and the Japanese yen. The price of the Japanese yen is consolidating against the background of the day off in the country in connection with the celebration of the birthday of the emperor. Tomorrow will be published the minutes of the previous meeting of the Bank of Japan, at which were revised parameters of monetary policy in the country. Today, the dynamics will depend on the statistics from the US. Our medium-term outlook for the yen remains negative and we expect low activity in the coming days.
Currency trading and the Australian dollar. The price of the Australian dollar has stabilized after strong growth in the previous days and today probably will correct downward. Support for the pair yesterday was positive data from China and a slight increase in the price of oil. The potential of fall of the Australian dollar declined, but growth in the near future is possible only in the correction. Tomorrow is a day off in Australia. Our medium-term outlook remains negative.
Currency trading and the New Zealand dollar. The price of the New Zealand dollar shows a slight increase against the background of strong statistics on the trade balance of the country. Thus, the country's trade deficit in November was 779 million, against the forecast of 812 million. Tomorrow in New Zealand is a holiday and investors’ activity will be minimal. We maintain a medium-term negative outlook.