FXstreet.com (London) - Markets were neutral today as investors seemed to hibernate ahead of Christmas. Dollar settled after extending its bull run earlier today, buoyed by ever-improving economic outlook. Today the outlook was bolstered by strong house sales figures, despite contrary GDP figures which came in under consensus.
Christmas wind-down will hit overdrive now as we approach the final trading days of 2009.
Investor will be looking now to 2010, where the key story will be the unravelling of financial stimulus across the globe. Many have argued that a lot of the economic gains seen of late have simply been 'sponsored' effectively by the stimulus packages…2010 will prove whether or not this is the case.
The Dollar summary heading to the end of the Asian session looks like this: EUR/USD 1.4251/3 (+0.03%), Swissy 1.0493/5 (+0.05%), Cable 1.5955/7 (-0.04%), USD/JPY 91.68/71 (-0.16%).
ECPULSE.com provide us with technical analysis on the narrowly traded ranges the majors now occupy in this report. They also comment: So far the major pairs are narrow trading due to technical movements throughout the currencies market, while that the Federal currency advanced to a Three-Month high within the prior EU session as the existing home sales inclined more than forecasts last month, indicating that the world's superpower housing sector is enhancing further.