15.12.16

Good morning,

Federal Reserve Chair Janet Yellen announced an Interest Rate increase of 25 basis points from 0.5% to 0.75% yesterday evening which was widely expected. This confirmation led to a sell off in GOLD on the back of Dollar gains, and OIL did likewise. XAUUSD trading at $1139 per ounce at time of writing, while USOIL was trading at around $50 per barrel. The Swiss National Bank will today make their Interest Rate decision, and the rate is expected to remain unchanged at -0.75% USDCHF trading at 1.0244 at time of writing.

Australia released some employment data which showed some better than expected numbers. AUDUSD trading at 0.7401 at time of writing. There will be further Interest Rate decisions this session, first from the Norges Bank in Norway, and then from the Bank of England. GBPUSD trading at 1.2523 at time of writing. In the Euro Zone Markit Manufacturing, Composite and Services data are scheduled to be published this session. British Retail Sales figures are also on the agenda this session.

Across the Atlantic there will be a speech in Canada from Bank of Canada Governor Stephen Poloz, and he might give some hint if there will be any reaction to their US counterparts, so this could have significant bearing on the Loonie if he drops hints of future action. Then in the States there will be Jobless claims figures and Consumer Price Index data for November released this session. EURUSD trading at 1.0493 at time of writing.

I hope you all have a nice day.