Quietness is the obvious thing in today's trading to continue yesterday's wave, as majors traded within narrow ranges ahead of the holidays, yet markets will be back tomorrow for the GDP from the U.S economy and inflationary data on Friday.
The Euro traded within narrow ranges today recording a low of 1.4402 and inclined to set a high of 1.4422, meanwhile Germany released their PPI for the month of November, rising 0.8% on the month higher than the expected 0.4% rise, and rose 2.5% on the year from the expected 2.1% on higher energy prices, and now we are waiting for the IFO confidence from Germany as well, finally Mr. Trichet the chairman for the ECB is scheduled for a speech today.
The Pound inclined at the start of today's session to set a high of 2.0170 yet declined back afterwards to set a low of 2.0118, now we are waiting for the Bank of England to release their Minutes of the last meeting in which they surprisingly decided to cut their benchmark interest rates a quarter basis point to 5.50%.
The Yen settled against the Dollar within the 113s level, as the USD/JPY pair recorded a high of 113.40 and a low of 11306.
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