Dollar Extends Fall after FOMC, Brexit Negotiations in full swing, BOE Next

Daily Update - 17th December 2020

Yesterday’s Market

• GBP Consumer Price Index
• EUR Markit Manufacturing PMI
• USD Fed Interest Rate Decision, Monetary Policy & Economic Projections

Yesterday’s Explained

UK Reports on GBP Consumer Price Index as a Sluggish result which affected the pound shortly however the markets picked up back again on the latter of the day. Both Reports from Germany and Euro Zone on Markit Manufacturing resulted positive boosting the Euro common currency for the day. While the US Federal Reserve released their Economic Projections and Monetary Policy they confirmed that Stimulus will be active till the Economy Recovers to normal levels while maintaining the Interest Rate unchanged.

 

Today’s Market

• EUR Eurozone Consumer Price Index
• GBP UK Bank of England Minutes & Interest Rate Decision
• US Initial Jobless Claims & Continuing Jobless Claims

Today’s Focus

Consumer Price Index released by Eurostat is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services excluding the volatile components like food, energy, alcohol and tobacco. The core CPI is a key indicator to measure inflation and changes in purchasing trends. UK will be releasing their Interest Rate Decisions and their Economic Projections towards sustaining UK Markets during Covid pandemic.

Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance. In other words, it provides a measure of strength in the labor market.