Headlines:
Major central banks the main focus in the week aheadWeekly update on interest rate expectationsFrance December flash services PMI 48.2 vs 46.7 expectedGermany December flash manufacturing PMI 42.5 vs 43.1 expectedEurozone December flash services PMI 51.4 vs 49.5 expectedUK December flash services PMI 51.4 vs 51.0 expectedECB's Lagarde: We can cut rates further if incoming data confirms disinflation processECB's de Guindos: We will continue in the same direction as in the past few monthsECB's Kažimír: Maintaining a gradual approach through 25 bps rate cuts is most prudentPBOC says will keep yuan exchange rate basically stableItaly November final CPI +1.3% vs +1.4% y/y prelimSNB total sight deposits w.e. 13 December CHF 456.4 bn vs CHF 458.8 bn priorMarkets:
The euro barely moved but sterling did nudge a little higher before giving most of that back. EUR/USD kept little changed throughout, holding around 1.0500 with large option expiries in play. As for GBP/USD, the pair moved up to 1.2670 on the PMI data but then gave most of the gains back in a retreat to 1.2645 currently.
Overall, it's a tentative start to the new week as all eyes are on major central bank decisions. The Fed will be the first in line but that will only come on Wednesday.
This article was written by Justin Low at www.forexlive.com. Read More Details
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