It’s a particularly quiet week ahead on the economic calendar, with 14 mild announcements in focus in the week ending 31st December. In the week ending 24th December, the US Dollar Spot Index fell by 0.57% to 96.019.
US Consumer confidence figures for December will be key on Tuesday along with jobless claims on Thursday. Other stats include trade data, Chicago PMI numbers, and housing sector figures. These are unlikely to draw too much attention, however.
In Europe, For the week, the EUR rose by 0.70% to $1.1319. French jobseeker total figures will be the key stat of the day. With many European majors closed, however, impact on the EUR will likely be limited.
Prelim December inflation figures for Spain will be in focus on Thursday. Expect any further pickup in inflationary pressure to deliver EUR support.
The Pound rallied by 1.06% to end the week at $1.3386. It’s a particularly quiet week ahead on the economic calendar. There are no major stats to provide direction, leaving the Pound in the hands of COVID-19 news in the week.
The Loonie ended the week up 0.57% to C$1.2815 against the U.S Dollar. There are no material stats due out of Canada to provide the Loonie with direction. The lack of stats will leave the Loonie in the hands of crude oil prices and market risk sentiment.
Major Currencies Performance and Signals
The weekly overview this week doesn’t include forecasts as there are no important economic announcements and hence low volatility is expected in the markets.
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