The last week before the holidays saw the dollar mostly lower, with the exception of the Japanese yen. What’s next? The last week of 2017 is a holiday week that features low trading volume and liquidity. This usually results in quiet trading, but can also see surprising sparks. There are very few events, but they could trigger an outsized response given the conditions. Here are the highlights for the upcoming week.
Congress passed the tax bill in back and forth process and everything is ready for Trump’s signature. The news was supposed to help the US dollar but was basically priced in. US data was mixed: big beats on building permits and housing starts were countered by a miss on durable goods orders. The final read of US GDP for Q3 was marginally lower: 3.2%. All in all, the economy is doing well. The Canadian dollar enjoyed the positive inflation and retail sales numbers while the pound was attuned to political developments related to Brexit, as usual, but received a small upgrade on annual GDP.
Crypto-currencies stole the show with huge volatility amid the inclusion of bitcoin in CME’s futures trading. They had a terrible Friday. Here are 5 reasons for the crypto-cash and updates on 5 coins.
*All times are GMT
Our latest podcast is titled What does 2018 have in store for financial markets?
Follow us on Sticher or iTunes
- EUR/USD forecast – for everything related to the euro.
- GBP/USD forecast – Pound/dollar analysis
- USD/JPY forecast – outlook for dollar/yen
- AUD/USD forecast – projections for the Aussie dollar.
- USD/CAD forecast – Canadian dollar predictions