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28 Dec 2014
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Greek parliament vote in focus

United States Dollar: With thin trading conditions due to the Christmas holidays there has been little movement in most crosses since Christmas Eve. Cable has traded between 1.5505 and 1.5585 and currently sits at 1.5565. The Greenback remains well bid after the strong final estimate of 3rd quarter GDP which showed the US economy grew at an annualised 5% from July-Sept. There is no data today and it’s a pretty sparse week with only Wednesdays Unemployment claims from America and Fridays UK Manufacturing PMI the releases of any note from the States or the UK.

We expect a range today in the GBP/USD rate of 1.55 to 1.56

Euro: EUR/USD is currently trading at 1.2184 with today’s Greek parliament vote on a new President likely to be the only major risk event this week. If parliament cannot vote in a new President then a snap election is likely to be called which will weigh on the Euro. GBP/EUR trades at 1.2780.

We expect a range today in the GBP/EUR rate of 1.27 to 1.2855

Aussie and Kiwi Dollars: There is no top tier data this week from either Australia or New Zealand. The commodities may suffer from risk aversion should the Greek election situation see USD buying. AUD/USD is at .8136; NZD/USD is at .7776; GBP/AUD is at 1.9131 and GBP/NZD 2.0005

We expect a range today in the GBP/AUD rate of 1.9090 to 1.9210

We expect a range today in the GBP/NZD rate of 1.9950 to 2.01

Data Releases

AUD: No data

EUR: Greek Parliament vote

GBP: No data

NZD: No data

USD: No data

If you want instant updates on movements in the FX market and fast access to the UKForex daily commentary, follow us on twitter at http://twitter.com/ukforex or @ukforex

28 Dec 2014
Share

Greek parliament vote in focus

United States Dollar: With thin trading conditions due to the Christmas holidays there has been little movement in most crosses since Christmas Eve. Cable has traded between 1.5505 and 1.5585 and currently sits at 1.5565. The Greenback remains well bid after the strong final estimate of 3rd quarter GDP which showed the US economy grew at an annualised 5% from July-Sept. There is no data today and it’s a pretty sparse week with only Wednesdays Unemployment claims from America and Fridays UK Manufacturing PMI the releases of any note from the States or the UK.

We expect a range today in the GBP/USD rate of 1.55 to 1.56

Euro: EUR/USD is currently trading at 1.2184 with today’s Greek parliament vote on a new President likely to be the only major risk event this week. If parliament cannot vote in a new President then a snap election is likely to be called which will weigh on the Euro. GBP/EUR trades at 1.2780.

We expect a range today in the GBP/EUR rate of 1.27 to 1.2855

Aussie and Kiwi Dollars: There is no top tier data this week from either Australia or New Zealand. The commodities may suffer from risk aversion should the Greek election situation see USD buying. AUD/USD is at .8136; NZD/USD is at .7776; GBP/AUD is at 1.9131 and GBP/NZD 2.0005

We expect a range today in the GBP/AUD rate of 1.9090 to 1.9210

We expect a range today in the GBP/NZD rate of 1.9950 to 2.01

Data Releases

AUD: No data

EUR: Greek Parliament vote

GBP: No data

NZD: No data

USD: No data

If you want instant updates on movements in the FX market and fast access to the UKForex daily commentary, follow us on twitter at http://twitter.com/ukforex or @ukforex