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Daily Briefing – Thursday, December 28, 2017

Europe

As the year heads towards its grand finale, the calendar is light on economic indicators. On the European front follow the German Index of Consumer prices tomorrow which may move the EUR in either direction.

 

US

Busy day in the US with substantial indicators to be released between 13:30 to 16:00 GMT. Kick-off will be with Jobless Claims, followed by Chicago Purchasing Managers and Crude Oil Stocks. The USD has been falling against the CAD since December 20. There are no economic releases today in Canada although since it has an influential crude oil sector, the loonie might move in response to the crude oil data this afternoon (GMT).

 

 

Asia/Oceania

The MSCI Asia Pacific Index of stocks were headed for a high in trading yesterday, rising by 0.8 percent, close to the 570 mark. This level was last seen in late 2007. South Korea’s Kospi, the CSI 300 Index and the Hang Seng, also saw gains. The USD fell against the JPY by 0.01%. How will the USD economic data today affect the pair? Keep an eye on the AUD which has been rallying against the USD. Will the trend continue?

 

 

Commodities

The Bitcoin saga continues, with it losing more than $9000 of its value yesterday. Crude prices were stable yesterday, with WTI staying at $59.60 and Brent at $66.50. Will prices react to today’s data?

 

Today’s Events

13:30 GMT USD: Initial Jobless Claims
16:00 GMT USD: EIA Crude Oil Stocks
Friday, December 29, 2017
13:00 GMT EUR: Harmonized Index of Consumer Prices

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