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A final reminder about Quick News updates as lower US Philadelphia index leaves USD/JPY unchanged
The December reading of the US Philadelphia Fed non-manufacturing index has just been released. As noted here earlier, that index was at -5.9 in November. It was forecast to improve slightly. A reading of -2.4 was expected. It has actually fallen to -6. Ahead of this US treasury yields were close to session highs, (4.613%) in the 10 year note and that was keeping the dollar supported most of all versus the Yen and the CAD. The impact of this data has not really dented the dollar much yet, but US yields are slightly below their highs. The USD/JPY was trading at 157.10 leading into this report. It is right now unchanged after it. The reader is once again reminded, there will be no updates from this analyst tomorrow, or on December 26. Limited coverage will resume on Friday December 27. There will be one final update to come today after the release of the Richmond Fed manufacturing index, at 3pm GMT.
Market News
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Gold rises above technical resistance to set a new record high this afternoon
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