Fundamental Analysis – 16/12/2015

Good Morning,

United States NAHB Housing Market Index came in at 61 below forecasts (63) in December. USD nudged higher against its major rivals on Monday as forex investors embrace for this week's US Federal Reserve meeting. We are 12-hours away from the much anticipated FOMC decision on the interest rates. For the typically lacklustre mid-December time period, most major markets are still relatively liquid and volatile, and traders continued engagement can be chalked up almost entirely to tomorrow’s landmark FOMC decision. The move is officially expected to end years of near-zero interest rates, signalling an end to the central bank’s financial crisis measures. USDCHF is trading at 0.9921 while USDCAD is trading at 1.3737.

The Reserve Bank of Australia painted a rosier picture of the nation's economy and seemed in no rush to deliver another interest rate cut. EURCAD is trading at 1.4997 while EURGBP is trading at 0.7263.

Euro zone industrial production recovered in October following two months of declines. EURUSD added 32 points to trade at 1.1059 touching its highest level in the current trading range. The development on the price action front was Monday's push higher in EUR. GBPCHF is trading at 1.4906 while EURCHF is trading at 1.0835.

Daily Performances (4.00 am. GMT); 

I hope you all have a nice day.

All the figures are as at the writing time.