American FX Outlook: US Durables set to rise as Christmas nears

What you need to know before markets open:

  • A victory of pro-independence political parties in Catalan regional elections rose the political risk dragging EUR lower only temporarily.
  • The UK GDP confirmed expectations with revisions of past lifting the growth to 1.7% over the year.
  • Bitcoin suffers 10% drop trading at around 14K, 25% off its 20K peak.

Friday’s market moving events

  • The US core PCE price index is expected to rise 0.1% m/m and 1.5% y/y.
  • The US durable goods orders are set to increase 2.0% m/m in November with the core orders up 0.5% m/m.
  • The US Personal income is set to rise 0.4% m/m in November.
  • The US Personal spending is set to rise 0.5% m/m in November.
  • Canada’s GDP in October is expected to rise 0.2% m/m.

Major market movers

  • The Canadian dollar was a mover of Thursday rising after both retail sales and inflation exceeded forecast boosting the case for the Bank of Canada to raise rates.
  • The US Dollar is trading little changed one day before prolonged Christmas vacations.
  • See Canada’s GDP confirming solid economic form sending Loonie higher.

Earlier in Asia/Europe

  • Catalan pro-independence parties won 70 seats in 135 member regional parliament.
  • German import prices rose 0.8% m/m and 2.7% y/y in November.
  • German Gfk consumer confidence increased to 10.8 in January with the economic expectations highest in three and a half year.
  • French GDP rose 0.6% q/q in Q3 2017 with household consumption driving it higher than expected 0.5% increase.
  • UK Q3 GDP is expected to rise 0.4% q/q while revisions of past resulted in higher y/y growth rate of 1.7%.
  • UK Q3 business investment accelerated to 0.5% q/q and 1.7% y/y.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.