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09.12.2021 Market Report


Heading into Thursday’s European session, the EUR/USD recovers from an intraday low to trade at 1.1335, down 0.12% near the weekly high.

Traders of the Euro currency should take into consideration the Monthly Balance of Trade release in Germany.

Regarding the USD, Jobless claims will be released later today by the U.S Department of Labor, which may affect the rate of USD, and also the 30-year Bond Auction and Whole Sales Inventories MoM Reports is wise to be taken into consideration by traders today.


Despite fresh COVID-19 jitters, the GBP/USD pair held steady above 1.3200 throughout the Asian session. On the time of writing, 10:30 UTC+2 the Cable pair is trading at around the 1.3200 with a daily high of 1.3217 so far.


Heading into the European session, the USD/JPY pair lacked any strong directional bias, remaining trapped in a narrow trading band just above 113.00.


On early Thursday the AUD/USD pair was trading around 0.7167, bouncing off an intraday low, and consolidating daily losses to 0.13 %.

Reserve Bank of Australia’s (RBA) Governor Philip Lowe speech today, at the Australian Payments Network Virtual Summit, is expected to affect the Aussie. Also, RBA has released earlier this morning the Bulletin report which may lightly affect the Australian Dollar.


During early European session the NZD/USD pair edged higher and climbed to a one-week high, and is trading around the 0.6820 region until the time of writing. The Business New Zealand’s Performance of Manufacturing Index (PMI) report release will share more insight to traders on how to deal with the Kiwi currency today.


Overnight, the USD/CAD rose and fell as the Bank of Canada (BOC) kept interest rates unchanged while they spread concerns about the rising inflation that could last longer than previously thought. The Funds pair ended the day around 1.2650 on Wednesday. While heading into Thursday’s European session, the USD/CAD maintains its post-BOC recovery around 1.2670, up 0.13 % intraday.

Bank of Canada’s deputy governor Toni Gravelle is expected to speak at 19:00 UTC, about the Economic Progress report at the Surrey Board of Trade, via satellite.


USD/CHF is trading low round 0.9200 region after consolidating the two-day losses during early Thursday in Asia. 

The SECO Economic Forecasts report release today, which includes forecasts of the major GDP components such as consumption and investment together with key indicators such as employments and inflation, is expected to have an influence on the Swiss Franc.


After a three-day uptrend, WTI is still in the lead around the weekly top. During Thursday’s Asian session, WTI crude oil was trading around $72.50.


Gold (XAU/USD) is steady at around $1,785, having recently eased from an intraday high heading into Thursday’s European session, and traders are looking for new incentives in the US weekly Jobless Claims report.

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

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