Daily Briefing – Wednesday, December 27, 2017
Europe has still not awakened from the Christmas break but the EUR fell yesterday by 0.15% against the USD and by 0.13% against the GBP. No major economic events expected this week but keep an eye on the Swiss Zew Survey today which might move the CHF in either direction. Yesterday the EUR fell against the CHF by 0.04%.
The Canadian economy slowed down in October, lowering expectations of an interest rate rise by the BOC next year. In the meantime, the USD fell against the CAD, finishing yesterday 0.22% down. There aren’t any Canadian indicators due out this week but the API Weekly Crude Oil Stock tomorrow, it could affect the loonie.
Strong Japanese economic indicators over the Christmas break pushed the JPY up, with the USDJPY down by 0.09% yesterday. More numbers are due out today in Tokyo with the Bank of Japan’s Summary of Opinions at 23:50 GMT, Industrial Production figures and Retail Trade.
After last week’s crash, Bitcoin was up on Christmas Day with it overtaking $16,000 yesterday. Warnings about the cryptocurrency continue with Warren Buffett being reported as having said a “Stay away from it. It’s a mirage”. On the Crude Oil front, prices surged to more than a two and a half year high yesterday following a blast in a Libyan pipeline v=but prices are now coming down with North Sea oil making up the supply disruption in the North African country.
|09:00 GMT||CHF: Zew Survey – Expectations|
|15:00 GMT||USD: Pending Home Sales|
|23:50 GMT||JPY: Retail Trade|