Continuum Economics
  • Search
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
  • Calendar
  • Forecasts
  • Events
  • Data
  • Newsletters
  • My Alerts
  • Community
  • Directory
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
    • All
    • Thematic
    • Tactical
    • Asia
    • EMEA
    • Americas
    • Newsletters
    • Freemium
    • Editor's Choice
    • Most Viewed
    • Most Shared
    • Most Liked
  • Calendar
    • Interactive
      • China
      • United States
      • Eurozone
      • United Kingdom
    • Month Ahead
    • Reviews
    • Previews
  • Forecasts
    • Forecasts
    • Key Views
  • Events
    • Media
    • Conference Calls
  • Data
    • Country Insights
    • Shadow Credit Ratings
    • Full CI Data Download
  • Newsletters
  • My Alerts
  • Community
    • FX
    • Fixed Income
    • Macro Strategy
    • Credit Markets
    • Equities
    • Commodities
    • Precious Metals
    • Renewables
  • Directory
  • My Account
  • Notifications Setup
  • Account Details
  • Recent Devices
  • Distribution Lists
  • Shared Free Trials
  • Saved Articles
  • Shared Alerts
  • My Posts
Published: 2023-12-29T11:01:02.000Z

European Summary and Highlights 29 Dec

byMike Gallagher

Director of Research , Macroeconomics and Strategy
-

European trading has seen CHF strength and JPY weakness across the board. 

European session

Europe started off with a move lower on the JPY against the USD and EUR, while in contrast the CHF has moved higher against the EUR and across the board.  The EUR then gained ground against the USD, partially on EUR/JPY flows. However, this is not news driven but rather flow driven and traders find it difficult to see long lasting meaning in the moves. 

The mood is mixed going into next week.  The USD bears sees this week price action as a taster of a week USD in January, but others are more cautious given the prospect of some short-covering before the key U.S. data next week.    
 

Asia Session

Headlines and economics release continue to be non-existent as we approach the year end. After the roller coaster ride on Thursday, USD/JPY is acting much calmer so far in the last Asia session for the year. U.S. Treasury Yields are treading lower across curve while JGB yields opened higher. Broad risk sentiment is shaky yet it is not in the driver seat for now. USD/JPY is trading 0.06% higher at 141.45 after touching a session high at 141.66.

The PBoC has fixed onshore Yuan to be the lowest since May at 7.0827. Subsequently, Yuan traders took that as a green light to bring both the on/offshore Yuan lower. While the currency is capitalizing more on USD weakness than overall economic strength in China, it does not prevent the Aussie to gain some proxy support. The AUD/USD is trading 0.14% higher at 0.6838, NZD/USD also 0.35% higher at 0.6354 while USD/CAD is unchanged for the session. EUR/USD is up 0.02% and GBP/USD is up 0.19%.

 

Continue to read the article for free
Login

or

or

Topics
FX Highlights
Foreign Exchange
FX & Money Markets Now!
European Midday
European Weekly

GENERAL

  • Home
  • About Us
  • Our Team
  • Careers

LEGAL

  • Terms and Conditions
  • Privacy Policy
  • Compliance
  • GDPR

GET IN TOUCH

  • Contact Us
Continuum Economics
The Technical Analyst Awards Winner 2021
The Technical Analyst Awards Finalist 2020
image