On Thursday, the market major is declining. The current EURUSD quote is 1.0620.
USD owes it mainly to the growth of the US state bonds yield. The return on 10-year bonds has reached the month peak. This provoked recovery of the USD and a local decline of the main currency pair.
The market is quiet. The macroeconomic calendar shows only secondary news, which is normal for the time between Christmas and the New Year.
The number of incomplete trades in the US secondary housing market in November dropped by 4% m/m, which was surprising. Year by year, the index dropped by 37.8%. This is no surprise, on the contrary: high crediting prices make consumers postpone expensive purchases.
Today check out the weekly unemployment claims report in the US. It is quite unlikely that the data will be a holiday present: they are stuck in a channel between 210-230 thousand and will hardly escape it in the nearest future.
Right after the holidays, investors will start watching the US economy again. The labour market info will show how employment levels react to the economic slow-down and high rates. And if things remain neutral, market players will count on an increase in the interest rate by 25 base points at the nearest Fed’s meeting.
