The festive season has kicked off with a quiet day on the currency markets. There is a dearth of data releases this week, with only a few highlights for the market to get its teeth sunk into ahead of the Christmas holidays. Tomorrow see’s US GDP figures being released for the 3rd quarter, with UK and Canadian equivalent figures on Wednesday.
Whilst European and US markets will be closed later in the week, the Asian markets still open so if you do have any currency requirements and time on your side placing automated orders is a good strategy at this time of year.
It is worth mentioning that over the festive period, there is the potential for increased market volatility due to the thin market volumes (with so many traders away from their desks). In these conditions the trades that do take place have a bigger impact on prices than they would do usually. Your Halo FX consultant will be happy to suggest levels if you’re keen.
Latest FX news by Tom Ives