It would be hard to imagine a quieter FOREX session than this Monday, December 9.

Indeed, the $-Index is completely unchanged from Friday, at 106.06.
The greenback is completely stagnant against the euro (1.0565), the Swiss franc (0.8785) and the Canadian dollar (1.4150)... and is down 0.15% against the yuan (7.2600) and the pound.

But one currency stands out: the yen is up +0.85% against the dollar and the euro (151.30 and 158.40).

Forex traders are convinced that, on Thursday, the ECB will opt for a limited 25-basis-point cut in its key rates, rather than a more aggressive 50-basis-point easing (the FED is expected to follow suit with a -25-basis-point cut on December 18).

A totally unremarkable session, in the absence of 'macro' indicators in Europe... while in the United States, we enter the FED's period of 'silence' 10 days before the FOMC meeting on December 17 and 18 (-25Pts cut anticipated at 75%).

Copyright (c) 2024 CercleFinance.com. All rights reserved.