Skip to content

Dollar strengthens on Bernanke comments

However, there was another gloomy outlook from the auto market, which made another pitch for help as November sales dropped by 30%. Looking ahead, ADP Employment figures are expected at -200k from -157 previous. ISM non-manufacturing is expected at 42 vs. 44.4.

The Euro had a great day yesterday on the back of US stocks rebounding. Today the Euro may be a little less active as the market is awaiting the rate meeting tomorrow.

Sterling broke the 1.50 barrier against the dollar but rebounded back to the 1.48 mark by the end of the session. This was due to traders waiting on the BoE rate decision tomorrow, which analysts have mixed views about. Some are expecting a 50 basis point drop and some as much as 150 basis points. Sterling's weakness also came from the poor UK construction figures coming in at 31.8, which was lower than expected.