FOMC Meeting Minutes
Technical Analysis Daily Majors & Minors
The EUR/USD pair extended losses to trade well below the June 2010 low of 1.1875 after the official data in the Eurozone showed the currency bloc entered deflation for the first time since 2009.
Cable slipped in the European morning, as markets switched their attention towards Federal Reserve’s (Fed) minutes to be released later in the day.
Oil prices remained near five-and-a-half year lows in early Asian trading on Wednesday after prices saw yet more heavy falls in the previous session, and analysts said a supply glut meant that more falls were likely before a rebound.
British elections in May could arguably have as much impact on euro zone stability as this month's snap poll in Greece, making for an anxious period of up to six months for European investors.
The euro hit a nine-year trough on Wednesday as collapsing oil prices and worries about the world economy drove skittish investors into the arms of safe-haven sovereign debt.
Daily News To Watch
Wednesday, 7th January 2015 Previous Forecast Actual
10:00am EUR CPI Flash Estimate y/y 0.3% 0.0%
13:15pm USD ADP Non-Farm Employment 208k 227k
13:30pm CAD Trade Balance 0.1B -0.2B
USD Trade Balance -43.4B -42.3B
15:00pm CAD Ivey PMI 56.9 52.3 19:00pm USD FOMC Meeting Minutes