- Australia private sector credit m/m 0.40% vs. 0.60%
- UK Housing equity withdrawal q/q -8.8bn vs. -10.5bn
- US Weekly unemployment claims 287k vs. 274k
Later
- Chicago PMI
The markets opened the final trading day of the year 2015 on a quiet note with low trading volumes and lack of any major fundamentals to go by. With most of the markets still only partly functional the Asian session was marked with Australia private sector credit which grew at a pace of 0.40% against expectations of 0.60%. The Australian dollar continued to outpace its peers, with AUDUSD rising 0.37% for the day, trading near the highs of 0.732 at the time of writing. The Kiwi on the other hand was weaker in today’s trading and is poised for a second day of declines after prices touched a high above 0.6875 two days ago. NZDUSD briefly touched the intraday highs of 0.6864 before pulling back strongly to trade flat for the day.
The Japanese Yen continues to trade mixed and is firmer broadly. USDJPY is down -0.13% at the time of writing as USDJPY trades near 120.35. Prices declined steadily since the morning and remains broadly flat for the week.
The European trading session saw the Euro finally give up its strong rally as prices collapsed. EURUSD is down -0.39% for the day as the single currency broke below the 1.09 level after remaining flat in yesterday’s trading session. Although opening a bit higher, prices tested session highs near 1.0932 but soon gave up and declined below 1.09 to post a session lower near 1.0883
The British Pound has been very choppy in today’s trading session with multiple test above 1.4834 failing repeatedly. Prices remain flat as GBPUSD is up 0.05% for the day with price action staying strongly range bound within yesterday’s range but remains higher from the low of 1.478 posted two days ago.
With the Euro declining, USDCHF was stronger today, gaining 0.66% for the day as prices touched a 7-day high near 0.996. The US trading session was marked with the weekly unemployment claims which rose more than expected at 287k against expectations of 274k. The dollar however shrugged off the news staying stronger across the board with the exception of the Yen.
On the commodity front, Crude Oil prices continued their decline, down -1.47% for the day with prices trading near $36.28 a barrel after prices broke down below yesterday’s low. Gold was flat, but prices touched a new low at 1058 before posting a quick recovery higher. USDCAD was flat tracking Crude Oil prices.
The remainder of the evening will see the Chicago PMI data following which the markets are likely to wind down with thin trading conditions likely to follow suit tomorrow. The markets are expected to report normally on Monday, January 4th 2016.
