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Daily Briefing – Tuesday, December 19, 2017


The GBP saw a positive start to this pre-Christmas week with a rise of 0.47% against the USD. The Euro also saw an encouraging start to the week with a 0.28% rise against the CAD and a 0.34% rise against the greenback. On the European front, the German IFO Business Climate this morning has a tendency to cause volatility, so keep your eyes on that one.



The USD was hesitant yesterday as traders were unsure about the economic impact of the new tax legislation sure to be approved this week. Will today’s Building Permits be a rallying point for the greenback?




Japanese Business Confidence has reached the highest in over a decade. Last month, the NIKKEI reached a 21 year high, getting to 22,644.68. On Friday, the Japanese index was still up 15% for this year. The economy has been growing at an annual rate of 2.5% in the third quarter of this year and Prime Minister Shinzo Abe wants to cut corporate taxes. Traders wait expectantly for the BOJ policy Statement and Interest Rate decision on Thursday.




The CME (Chicago Mercantile Exchange) became the second exchange to offer bitcoin derivatives trading last night. The launch was accompanied by warnings, with top economists such as Denmark’s top central banker, warning traders to avoid the cryptocurrency. On the Crude Oil front how will the API Weekly Crude oil Stock affect prices?




Fedex will release its quarterly earnings today after the markets close. How will the company’s stock react?


Today’s Events

08:00 GMT EUR: IFO – Business Climate
13:30 GMT USD: Building Permits
21:30 GMT USD: API Weekly Crude Oil Stock

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