Market Moving Fundamental Events

Today’s data round includes German Ifo confidence for December, which is expected to fall back slightly. Other market drivers that need your attention are also discussed in the 19 December Market Moving Fundamental Events.

19 December, HotForex – Asian stock markets are mostly higher, with Japan and South Korea underperforming as Japan decides to strengthen its missile system to defend against North Korea. RBA meanwhile showed increased confidence in the economic outlook, which weighed on bonds but underpinned gains on stock markets.

European Market Outlook

Technology shares underpinned gains in Hang Seng and CSI 300. U.S. and U.K. stock futures are also higher and the risk on theme continues as U.S. tax reform hopes to underpin sentiment. European peripheral bond markets outperformed yesterday underpinned by Portugal’s ratings upgrade, but with Spain outperforming on both bond and stock markets.

Today’s data round includes German Ifo confidence for December, which is expected to fall back slightly. Eurozone construction output and wage data are also due.

Cable moderately higher

Narrow ranges have been prevailing, and more of the same looks likely, though there could be some chop around data releases and news developments, with moves prone to be exaggerated by thin market conditions. All the dollar pairings we track are showing less than a 0.2% range so far today.

USDJPY’s range has been centering around 112.50, while EURUSD has managed to drift up from around 1.1775-80 toward the 1.1800 level. Cable is also moderately higher, though, like EURUSD, remains comfortably below its high from yesterday. Focus remains on the U.S. tax overhaul bill, with the House expected to vote on it today and the Senate tomorrow, with indications suggesting that a successful passage is on. The December German Ifo business climate survey is also due later.

Main Macro 19 December Market Moving Fundamental Events

  • German Ifo Business Climate – Expectations – nudge higher to 107.5 after the surprising uptick in December PMIs and ongoing positive trends in manufacturing orders.
  • EU Labour cost- Expectations – 2.0% from 0.8% in Q2.
  • US Housing Starts – Expectations –  1.250 mln after the 13.7% October jump to 1.290 mln.
  • FOMC Member Kashkari Speaks


This article about 19 December Market Moving Fundamental Events was written by Andria Pichidi, Market Analyst at HotForex. The provided article is a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.

All information provided gathered from reputable sources. Any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. We assume no liability for any loss arising from any investment made based on the information provided in this communication.

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