North American Summary and Highlights 15 Dec
Overview - The USD was under some pressure early but ended little changed in subdued trade.
European and North American sessions
The USD slipped in Europe and early North America but ended little changed. USD/JPY found support below 155 and recovered to 155.25. EUR/USD rallied from 1.1730 to 1.1770 before slipping back to 1.1750. EUR/GBP was slightly firmer at .8785 as was EUR/CHF at .9360. AUD and CAD saw modest losses.
November Canadian CPI was slightly softer than expected at 2.2% yr/yr. unchanged from October, with CPI-Median and CPI-Trim slipping to 2.8% from 3.0%. December’s Empire State manufacturing index slipped to -3.9 from 18.7 but December’s NAHB homebuilders’ index rose to 39 from 38. Fed’s Miran was dovish and Williams moderate, in line with reputation. Trump said he would choose a new Fed Chair soon, with Kevin Warsh and Kevin Hassett now the front runners.