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28/ 12/ 2016
USD extended its recovery from better-than expected US Consumer Confidence & Dallas Fed Manufacturing Business index reports yesterday amid thin liquidity, which helped USD to extend its upward move.
Later today evening, the US pending home sales report may provide fresh stimulation to USD strengthening it against its major rivals.
27/ 12/ 2016
Except for Japan market, most of the markets were closed for Christmas holidays. There was little movement when trading happened in Japan markets where Bank of Japan released its monetary policy meeting minutes followed by BoJ Governor Kuroda’s speech.
Kuroda mentioned that the global economy seems to have finally moved out of its adjustment phase after the global financial crisis and is entering a new phase. Also he stated that the Japan’s economy has improved significantly during a period of more than three and half years. The excessive appreciation of the yen has been fairly corrected, and stock prices have increased substantially.
25/ 12/ 2016
The US dollar hit a 14-year peak early last week, but slipped against a basket of major currencies in low volume trading prior to the Christmas holiday weekend. Most markets will remain closed for Christmas and New Year celebrations next week.
However the heightened expectations of higher US interest rates in 2017 has fueled the Greenback’s market shaking appreciation this quarter with the currency on route to conclude the year as a champion amongst majors. Trading is likely to be lean during the coming week as only few key US economic data are scheduled to be released during the course of the week.
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