Today the focus is on holiday retail sales, surging infections, & lower unemployment.
The Swiss GDP (YoY) for Q3 will be released. Forecast: 3.2% If the data is lower than expected the CHF could see negative pressure.
Assets to trade: USD/CHF, EUR/CHF, GBP/CHF
The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) said as it auctions oil to try to lower global prices. Affects Brent
The number of Americans filing new claims for unemployment benefits dropped to a 52-year low last week, suggesting economic activity was accelerating as a year ravaged by shortages, high inflation and an unrelenting pandemic draws to a close. Affects USD
British retailers reported the strongest pre-Christmas demand since 2015 this month but also the biggest price rises since 1990, as fears of shortages led shoppers to buy gifts early, figures from the Confederation of British Industry showed. Affects GBP
A surge in coronavirus infections in Germany is weighing on consumer morale in Europe’s largest economy, dampening business prospects in the Christmas shopping season and threatening to kick away its last remaining pillar of growth. Affects EUR
A former Apple Inc employee who had filed a whistleblower complaint related to Apple’s use of non-disclosure agreements (NDAs) has inspired draft legislation in Washington state that seeks to restrict companies’ use of NDAs in settlements of workplace harassment and discrimination claims. Affects Apple
Both countries have hit their holiday buying season and the US saw an increase in seasonal spending earlier than usual in anticipation of supply issues to come. The UK is also in the midst of a shopping jump but the dollar is outperforming.
The pair has shown Four Black Crows indicating a strong downtrend.
The pair is testing its resistance range as it hits now highs.
The British index has been climbing and is currently testing its resistance level which may end its uptrend.