Major currencies tepid ahead of European markets open

Not a whole lot going on so far today

The dollar is mixed against the major currencies bloc as trading ranges are still relatively narrow on the day so far. There isn't much of a clear trend in the currencies space at the moment (most price changes are less than 0.1%) but in the equities space, Asian stocks are lower following Wall Street's decline overnight while S&P 500 futures are down by 0.2% on the day (not much changed since the morning).

The kiwi is lingering near the lows for the day as poorer risk sentiment weighs but the trading range isn't anything significant so far to be fair. Meanwhile, despite soft equities the yen is also lower with attention being paid to large expiries for USD/JPY near 111.50-55.

As mentioned earlier, it's that time of year for markets. Hence, don't over-analyse or read too much into the moves as they can be exacerbated by thinner liquidity conditions. Majority of market participants will already be looking towards the holiday season and sipping a nice hot cup of hot chocolate by the wood fire. For those already enjoying their year-end break, I wish you a Merry Christmas and happy holidays!

Here are the trading ranges for dollar pairs so far:

  • EUR/USD - 20 pips
  • USD/JPY - 37 pips
  • GBP/USD - 30 pips
  • USD/CHF - 14 pips
  • USD/CAD - 16 pips
  • AUD/USD - 19 pips
  • NZD/USD - 29 pips
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