Australian Dollar
Expected Range 0.7200 – 0.7300
The Australian Dollar opens this morning down
25 points from yesterday’s open at 0.7252 after a quiet day due to the holiday
period. A bank holiday for Boxing Day in Australia meant that trading was thin
on Monday with the week in between Christmas and New Year historically very
quiet. The US will have some consumer confidence data out tonight which will
provide some insight into the confidence levels of the last month in the lead
up to the holiday period and may see the AUDUSD rate move however there is no data out locally so expectations are
muted.
New Zealand Dollar
Expected Range 0.6750 – 0.6900
The New Zealand Dollar is up slightly against
the USD to open at 0.6845 after trading the day within a 30 point spread. With
bank holidays around the world including in New Zealand trading was limited
with a lot of business not operating between Christmas and New Year. As a
result of this break the data releases are limited with only the US consumer
confidence data to look for tonight.
Great British Pound
Expected Range 2.0400 – 2.0600
The Great British Pound opens this morning slightly
up against the Australian Dollar to open this morning at 2.0514 after a limited
trade on Monday. With the UK on holidays trade was limited and was also trading
in a narrow bank with the USD and the NZD slightly losing ground against both currencies.
With no data out today expectations are limited.
Majors
Expected Range N/A
The Eurozone was open for business today but
with many countries on holidays the effects were limited. The EUR open at
1.5127 against the Australian dollar this morning up from yesterday’s close of
1.5060. Japan had the retails sales data y/y released which saw the result down
1% with the markets expecting -0.1% but the reactions were limited when looking
at the currency with the JPY remaining steady against the USD (120.36). A quiet
day for the US with no major data released yesterday looking forward the
consumer confidence data will be released with an insight into consumer
confidence in the lead up to Christmas.