USD/JPY awaits US GDP Q3 final revision

By FXStreet FXStreet (Guatemala) – USD/JPY was offered in a tight, but volatile ranges in thin holiday markets early on overnight.

The euro was one catalyst on the board in the US shift, but the Yen was unable to capitalise on the offer in the greenback below lows of 120.83 even while US stocks declined, although the 121 handle remains a solid platform again for the week by the looks of it. However, US data will start to flow in, the last for the year with GDP Q3 final revisions.

Poor data might have a bit of an impact but we may need to wait for the New Year on a level playing field to see the full market reactions. “We expect Q3 GDP to be revised down by 0.4pp in the second estimate to 1.7% (Consensus: 1.9%), from 2.1%,” explained analysts at Nomura today. Then we get the BoJ minutes later before we bring out the turkey!

USD/JPY 2016 was a topic discussed last Friday. FXStreet hosted a special event about what 2016 might hold for the Forex traders. The panelists were Ashraf Laidi, Boris Schlossberg, Adam Button and Valeria Bednarik. Today, we want to share with you the recording …read more

Source:: FX Street