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Currency Market Analysis

Global Themes

Maintaining the theme of the week, markets saw little reaction to the poor German Ifo Index release yesterday and the better than expected U.S. durable goods orders.  EUR/USD continued to trade around $1.13, GBP/USD remained steady at $1.32 and USD/JPY hovered near 100.  The focus on the morning ahead is Janet Yellen’s eagerly awaited speech where markets are expecting to receive a much clearer view for the outlook of U.S. monetary policy in 2016.  Markets are not expecting a rate hike until the beginning of next year so any hawkish signals given from Yellen could see the dollar strengthen.

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