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07.12.2021 Market Report


Before Tuesday’s European session, the EUR/USD was trading low around 1.1285 region. Heading into the European session, it was last seen trading at 1.1288 at 10:00 UTC+2, with today’s low at 1.1276 and a high at 1.1300.  

Traders of the Euro should keep an eye on the monthly ZEW Economic Sentiment Index release, which measures the level of diffusion index based on German institutional investors and analysts and may affect the currency.

Regarding the U.S Dollar, traders should expect the release of Balance of Trade.

Additionally, traders should have in mind the China’s Trade of Balance release today.  


So far on Tuesday, the GBP/USD has advanced around 1.3300 region, aided by renewed US dollar weakness across the board and an improving market mood.

The Halifax House Price Index MoM and the British Retail Consortium (BRC) Retails Monitor YoY report releases are expected to affect the British Pound today.


During the Asian session on Tuesday, the USD/JPY pair rose for the second day in a row, reaching a one-week high near 113.75 in the final hour.

In Japan, the following report releases are expected later today, the GDP Growth Rate QoQ Final and the Current Account, which shows the sum of balance of trade.  


Following the Reserve Bank of Australia’s (RBA) monetary policy meeting decision on early Tuesday, the AUD/USD was trading high at picks up bids to refresh the daily high around 0.7065, up 0.25 % intraday. On the time of writing, 10:00 UTC +2, the Aussie is trading around 0.7096. 

Regarding the Australian Dollar, the Reserve Bank of Australia Cash Rate released the Interest Rate Decision early today.  


During the early European session, the NZD/USD pair climbed to a fresh daily high, around the 0.6775 region.  


Heading into Tuesday’s European session, the USD/CAD is trading at 1.2730, down 0.25 % intraday.

Traders should take into consideration, the Ivey Purchasing Managers’ Index (PMI) which will be release later today and is a leading indicator of economic health in Canada.


During early Tuesday, the USD/CHF retreated from the weekly high, teasing intraday lows around 0.9250 region.

Today, the Unemployment Rate has been released and is expected to affect the Swiss Franc.


WTI gains modestly around $69.80, after rising to its highest level since August 23 the day before. 

In the US the weekly, API Crude Oil Stock Change report will be released later today.


On Monday, gold ended up slightly lower and the price during Asia session today was perking up by 0.16%. The XAU/USD pair is trading between the $1,778 and $1,782 region.

Stay up to date with the important data releases and economic events happening daily through our Economic Calendar.

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