FX markets saw the USD-index (-0.21%) fail to hold onto its gains above the 90.00 level, with the level being breached to the upside yesterday for the first time since 2006, following the strong US GDP release. Elsewhere, overnight gains inJPYhave been largely pared throughout the European session with nothing fundamental at play. Separately, price action in FX markets have been especially muted as expected with volumes exceedingly thin and major pairs trading in a particularly tight range. Looking ahead, we have some tier 1 data releases, with highlights including Initial Jobless Claims, DoE Crude Inventories, EIA NatGas Storage Change, Bank of Japan Minutes for the November meeting and a US 7y Note Auction.
24th December (Christmas Eve) - Business as usual up to 1800GMT Wednesday 24th December 2014
Floor Trade
1. CME/CBOT – Equities - Early Close (1815GMT/1215CST), Interest Rates, FX, and Commodities - Early Close (1800GMT/1200CST)
2. NYMEX – Early close (1830GMT/1230CST)
3. COMEX – Early close (1730GMT/1130CST)
4. NYSE – Early Close (1800GMT/1300EST)
Electronic Trade
1. CME Globex – Equities, Interest Rates, FX (Early close 1815GMT/1215CST)
2. NYMEX – Early close (1845GMT/1245CST)
3. Eurex - Closed for trading in all derivatives
Cash Index:
1. IBEX 35 - 1300GMT/0700CST
2. Amsterdam Exchange, CAC40, PSI 20, BEL 20 - 1300GMT/0700CST (NB: Germany, Italy, Switzerland, Norway & Sweden closed)
Note: Hong-Kong will trade half-day