Liquidity and month end flows continue to dominate markets – Investec

By FXStreet FXStreet (Delhi) – Research Team at Investec, suggests that it’s Christmas eve and as preparations for the festivities are no doubt rampant, we’ll do our best not to get in the way of all the merriment, mulled wine and mince pies!

Key Quotes

“With this in mind, this isn’t going to be the longest Market Brief of the year… Yesterday’s US data (Durable Goods, New Home Sales and University of Michigan Consumer sentiment) didn’t have much of an impact on markets. The Pound had a better day gaining against both the USD and EUR despite a disappointing GDP report. UK Q3 GDP’s final reading was down to 0.4% on the quarter from 0.5 % (Q3 vs Q2).”

“Finally just a very quick reminder that in today’s short trading day there may still be some movement in FX markets, as thin liquidity and month end flows continue dominate the market. The economic calendar is naturally light, but at 09.30 we have BBA Loans data out for House Purchases followed by US Initial Jobless claims at 13.30, for those of you still around.”
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Source:: FX Street