US Dollar little moved in currency trading today. | CountingPips Forex Blog

December 22, 2008 - Forex Economic News

US Dollar little moved in currency trading today.

A light economic release schedule coinciding with the heart of the holiday season has seen mostly quiet currency trading today. The US dollar has been mixed against the major currencies in trading as of 1:20 pm ET with little significant movement. The euro has started the week lower verses the buck as the USD mixed in Currency Trading EUR/USD trades at 1.3937 after opening the day(00:00GMT) at the exchange rate of 1.3975. The British pound has also been slightly lower verses the USD as the GBP/USD trades at 1.4818 from 1.4945.

The dollar has advanced against the Japanese yen to trade above 90.00 yen per dollar. The USD/JPY currently trades at the exchange rate of 90.17 after opening the day's trading at the 90.08 level. The USD/JPY traded the better part of last week below the 90.00 level and reached a low of approximately 87.20 yen per dollar.

The dollar has also been advancing against the Canadian dollar today as the USD/CAD pair trades at 1.2172 from today's 1.2139 open. Against the Swiss franc, the dollar has declined to the 1.0922 level from the opening at 1.1028. The Australian dollar has also gained verses the USD as the AUD/USD trades at 0.6858 from 0.6816 while the New Zealand dollar is virtually unchanged from its 0.5771 opening as the NZD/USD trades at 0.5769.

Economic news released today out of the eurozone showed that French Producer Prices decreased by 1.9 percent in November to bring the annual rate of increase to 1.6 percent. October prices fell by 0.9 percent to an annual increase of 4.3 percent. The Italian trade deficit with non-EU countries reached 1.23 billion euros following a deficit of 366.0 million euros in October.

This week's upcoming important economic news releases are:

Monday

21:45 GMT New Zealand 3rd Qtr. GDP - Expected at -0.5 %

Tuesday

09:30 GMT United Kingdom 3rd Qtr. GDP - Expected at -0.5%
09:30 GMT United Kingdom Current Account - Expected at -11.9B
13:30 GMT United States 3rd Qtr. GDP - Expected at -0.5%
13:30 GMT United States Personal Consumption - Expected at -3.7%
15:00 GMT United States Univ. Michigan Confidence Survey - Expected 58.8
15:00 GMT United States New Home Sales - Expected at 418K(-4.2%)
15:00 GMT United States Existing Home Sales - Expected at 4.92M(-1.2%)

Wednesday

13:30 GMT Canada October GDP - Expected at -0.3%
13:30 GMT United States Durable Goods - Expected at -3.0%
13:30 GMT United States Personal Consumption Expenditure Core - Expected at 0.0%(Nov)
13:30 GMT United States Weekly Jobless Claims

Thursday

23:50 GMT Japan Retail Trade - Expected at -1.5%

EUR/USD Chart - The Euro losing ground today verses the US dollar in light currency trading(1 hour Chart).

Today's Forex Chart

tags: currency trading, usd, economic releases

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