Daily Forex Market Preview – 09 December 2014
Guest post by John Benjamen at Orbex
In a relatively quiet Monday trading session, the Greenback eased against its peers with the EURUSD, GBPUSD managing to make some modest gains. Gold futures, which were quite choppy for the day managed to settle higher, closing above the 1200 handle. It is definitely something of importance, considering the precious metal has managed to stay its ground despite last week’s robust jobs data. The same theme is likely to continue through to today’s trading session on lack of any major US fundamentals.
The Euro single currency was resilient and managed to shrug off a lackluster German industrial production data reading and rallied from the lows of 1.223 levels, since last week’s ECB meeting. A possible rally back to 1.24 is something worth expecting. The British pound was however weaker against the Greenback in comparison to the Euro.