On Friday, the market major looks stable. The current quote is 1.0610.
The US statistics published yesterday turned out to be quite unexpected. The final GDP for Q3 demonstrated growth of the economy by 3.2% instead of 2.9% estimated previously. This revision had not been forecast but it turned out in the best of American ways. It turns out that regardless of the all-time fastest growth of crediting cost, the economy remains more sustainable than expected and keeps a positive impulse.
Today is the last trading day in the West before Christmas and winter holidays. This might affect volatility.
However, before investors leave for celebrations, US statistics might be of interest. Today we are to see durable goods November reports, where a decline by 0.9% m/m is expected after preceding growth by 1.1% m/m. The indicator itself is very volatile, so it would be wise to take a look at its components. The US will also present consumer income and expenses reports as well as the Fed’s favourite Core PCE Price Index (basic personal spending) for November. It might have remained at 0.2% m/m.
These statistics are neutral for the USD. Thin Christmas market might be full of steep surges but it is not likely that we will see anything bright here until next week.
