The US dollar became stronger just before Christmas. The current rates are EUR/USD 1.3968, GBP/USD 1.4681, and USD/JPY 90.69. Earlier today, the dollar weakened. All the moves are quite minor.
In the US, the Core Durable Goods Orders m/m were at 1.2%, which was a big surprise. The market expected a drop of 3.0%. On the other hand, Unemployment Claims were at 586K, which was much worse than expected.
The forex traders which didn’t go on holiday yet, probably boiled this data together and got a mixed results for the dollar. The moves were subtle.
In Canada, the GDP, which is a monthly figure there, fell only 0.1%, better than the 0.3% drop that was expected. This did little to move the USD/CAD, currently at 1.2097. The Canadian dollar got only a little bit stronger.
The market goes to sleep now, and only the wind is blowing there. Thin is the volume.
Merry Christmas!
