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USD strengthen against major rivals despite lack of news release

Tuesday, Dec 29 2015
Despite no major data releases, USD was pushed higher against its major European rivals Euro and Sterling. Recently published data showed that the Nation's international advance trade deficit in goods decreased to $60.5 billion in November from $61.3 billion in October as imports decreased more than exports. This was in line with market forecasts.
 
The prior month deficit was revised lower to -61.276B from the original -58.411B.  The larger deficit, should have a negative impact on GDP estimates for 4Q. However, that was reflected in a revision when the goods and service deficit was released a few weeks after last months release. The trade data for both goods and services are released a week or so after the goods deficit. It will be released on January 6th, 2016 at which time, this figure may be revised.
 
The EURUSD does not seem to mind.  The pair has moved to new session lows (as has the GBPUSD) after the news.  Since there is no major data releases, and with holiday season on, these kind of movements do not come as a surprise.
 
Euro is currently being traded few points above 1.0920 level, Sterling is around 1.48 handle, while Aussie is above 0.7280 area. Later today, CB Consumer Confidence figures are scheduled for a release.
More in this category: « BoE needs to see higher wages before thinking about rate hike CB Consumer Confidence rose to 96.5 »

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