Local: Tue
Sydney: Tue
Select Destination
Location Time Temp
Sydney Tue19°
Melbourne Tue16°
Brisbane Tue20°
Perth Tue13°
Adelaide Tue
Hobart Tue17°
Canberra Tue10°
Darwin Tue27°

news

Get our help FREE advice or find service providers with our bookJobs Now

AUD, GBP, EUR, USD, NZD, CAD Exchange Rate Forecast: December 2016

23 December 2016 by News Desk

Currency specialists FC Exchange have taken a look at upcoming economic data releases to see what could impact the markets as 2016 comes to a close.

AUD

The Australian dollar won’t be able to react to ecostats as the nation goes quiet on the publishing front over Christmas with only one notable release. Australian private sector credit data may influence the Aussie dollar moderately on Friday 30th December and it’s possible it may enable slightly more AUD movement than usual considering how little data there is available to the market that day. Additionally, the Aussie is likely to be sensitive to investors’ risk sentiment.

NZD

The New Zealand dollar may experience some slight movement on Chinese figures published during the festive period in lieu of any Kiwi domestic data. However, Chinese data is thin on the ground and not massively influential as we approach the end of the year. Chinese industrial profits are scheduled for 27th December, while Chinese global payments data follows on December 29th. Any developments in dairy may cause the Kiwi dollar to fluctuate as it’s New Zealand’s biggest commodity. However, if any drastic global events take place, investors may want to invest in less risky currencies and head towards safe-haven assets.

GBP

Wednesday 28th December could see the pound sterling exchange rate experience some movement with the release of some moderately influential ecostats. UK Nationwide house price and BBA loans for house purchase figures will make their way onto the market and may allow slightly more currency movement than usual with little other data being released.

EUR

Tuesday 27th December could be a moderately important day for the euro exchange rate with Germany due to publish its import price index and retail sales numbers. Year-on-year, German retail sales sat at -1.0% in October, despite registering +2.4% growth month-on-month. As geopolitical tensions in the Eurozone remain quite prominent, it’s expected that the EUR exchange rate could remain rather sensitive to any other developments in the currency bloc.

USD

The US dollar is likely to experience some significant movement on Tuesday 27th December with the release of the highly anticipated US consumer confidence numbers. The ecostat has been pegged to decline from 107.1 to 107.0 in December and could place some downward pressure on the buck if the result comes in any lower. Another big day for the US Dollar will come on Thursday 29th December when the US publishes its wholesale inventories and advance goods trade balance numbers. Additionally, the US crude oil inventories data may influence oil prices in the wake of recent OPEC meetings, which could have a knock on effect to the Canadian dollar.

CAD

The Canadian dollar exchange rate can fluctuate significantly as a result of oil prices, as black gold is the nation’s largest commodity. The week between Christmas and New Year may see the loonie susceptible to any price changes or developments in this sector with Canadian economic data in short supply.

Disclaimer: This economic update is provided by FC Exchange a Global Reach Group Company, industry leaders in foreign exchange. Authorised affiliates are permitted to reuse content.

 

Learn more about the Australian Dollar – Contact FC Exchange: Get A Quote

Want to live and work Down Under? Click here for expert help: Skilled Migration to Australia

Want to get a job Down Under? Click here for expert help: How to Get a Job in Australia

Click here for expert help with travel visas: Travel Visas to Australia

Click here for tourist information about Australia: Visit Australia



We use cookies on Thinking Australia

This website uses cookies to ensure you get the best experience on our website. Please confirm permission to use cookies.
Cookie Policy Privacy policy