Collinson Forex Daily Market Commentary

Daily Market Commentary

A quiet start to the week, with only limited data from Europe and the US, including some benign inflation data from Norway and Denmark. Markets will be focused on US inflation and the Fed's final meeting of the year, which they are expected to leave rates unchanged. The Santa Claus rally may be upon us, if the Fed leaves rates unchanged and becomes dovish in their outlook. The US Dollar was steady, with the EUR trading around 1.0750, while the GBP holds above 1.2500.

The reserve was steady and allowed the commodity currencies to consolidate. The AUD is trading around 0.6550, while the NZD looks to move above 0.6110. Markets are focused on Central Bank actions in this coming week and the anticipation of rate cuts in the New Year.

PLEASE NOTE THE VIEWS EXPRESSED IN THIS COMMENTARY ARE THOSE OF THE AUTHOR AND NOT COLLINSON & CO

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