Weekly market overview – 08/12/2014

An eventful and volatile trading week was sealed on Friday with particularly strong NFP Data coming out of the US, pushing the USD to a long time high against many of its major peers.

The EUR/USD breached the 1.23 barrier and headed below it for a 2 year low, losing 0.7% on the day, finding short-term support around 1.280, and resistance at 1.23.

The USD/JPY found another 7 year high, ending the week at 121.44.

The positive NFP data pushed Wall-Street to a green closing for the 7^th week in a row, and raised speculations of a FED’s interest rate increase in the upcoming months. 

 

Key Market data this week:

Monday, December 8^th:

02:00 – CNY: Trade Balance.

14:15 – USD: Services PMI

Tuesday December 9^th:

9:30 – GBP: Manufacturing Production.

15:00 – USD: Job Openings.

Wednesday, December 10^th:

01:30 – CNY: CPI

20:00 – NZD: Interest Rate Decision.

Thursday, December 11^th:

00:30 – AUD: Employment Change.

13:30 – USD: Core Retail Sales.

Friday, December 12^th:

05:30 – CNY: Industrial Production.

13:30 – USD:  PPI

http://www.fx77.com/?lang=en&lrx