December 14, 2016. The NZD is the strongest. The USD is the weakest.
As NA traders enter for the day, the NZD is the strongest of the major currencies, while the USD is weakest. The changes are limited but the US calendar is full today with:
- US Retail Sales at 8:30 AM ET are expected to increase by 0.3%, ex-autos +0.4%, X auto and gas +0.4%, and the control group +0.3%
- US PPI Final Demand is expected to rise by 0.1%, excluding food and energy +0.2%
- US industrial production (at 9:15 AM ET) is expected to fall by -0.3% with manufacturing production at -0.2% and capacity utilization at 75.1%
- US Business inventories (10 a.m. ET) are expected to fall by -0.1%
- US oil inventories will be released at 10:30 AM
- The FOMC decision is at 2 PM ET (hike of 0.25% is expected) with a press conference starting at 2:30 PM ET
The big event will be the FOMC decision. The other data could give the dollar a push in a direction as the market looks toward the future.
The ranges are well below the 22 day averages as the NA session begins. Again there is a potential for a push on the back of the data and of course the Fed decision and press conference.
In other markets currently:
- Spot gold is trading a $1161, +3 dollars on the day (or 0.24%)
- WTI crude oil trading at $52 $-.96 or -1.83%
- US 10 year yield is trading at 2.4422%, -3 BP, German 10 year is at 0.32%, - 4BP, France is at 0.756%, - 4 BP
- S&P futures are down -1 point. Nasdaq futures are 2.25 points. The Dow futures are -13 points. The Dow has been up for 7 consecutive days and got within less about 47 points of 20K yesterday. European stocks are down (Dax, -0.21%, Cac down -0.41%, UK FTSe down -0.1%, Italy FTSE MIB -0.28%
