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28 Dec 2015

Quiet start to a quiet week in FX

United States Dollar: With most big financial centres out of action for the Christmas period very little has happened in FX markets. GBP/USD has been steady around 1.49 and opens this morning at 1.4895. There’s very little by way of UK data on the way this week. US Consumer Confidence and Unemployment Claims are due from the US.

We expect a range today in the GBP/USD rate of 1.4880 to 1.4920

Euro: EUR/USD has traded sideways too and opens this morning at 1.0970. It has tried and failed to make it up and through 1.10. It’s a three day working week throughout most of central Europe this week so it will likely continue to be quiet for EUR/USD and GBP/EUR (which opens at 1.3580).

We expect a range today in the GBP/EUR rate of 1.3550 to 1.3600

Aussie and Kiwi Dollars: AUD/USD and NZD/USD have both ticked higher since Thursday morning and open in London at .7275 and .6875. Again, there’s been no data released during the last few trading sessions out of Australia and NZ and it’s expected to be another steady session today. GBP/AUD and GBP/NZD trade at 2.0485 and 2.1658.

We expect a range today in the GBP/AUD rate of 2.0410 to 2.0510

We expect a range today in the GBP/NZD rate of 2.1600 to 2.1750

Data Releases

AUD: No data

EUR: No data

GBP: No data

NZD: No data

USD: Goods Trade Balance, CB Consumer Confidence

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