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Week in FX Europe Dec 11-16

Last week’s Euro summit is not sitting well with the market. From the first trading session this week, investors were given the green light to push this currency down to an 11-month low. Rating Agencies continue applying pressure in the background, threatening to downgrade one or all of the Euro-zone members. The absence of the ECB as the “lender of last resort” is hurting risk appetite. Because we are in December, it’s difficult for many participants to strap on massive risk positions in a low-liquidity and volatile environment. This month and year may be winding down, but the heat on the Euro-zone is certainly becoming more intense. Investors are trading up against some key support levels for the currency, levels that when breached could see another decent run to the downside.

Below are some other highlights of the week:



AMERICAS Week in FX [1]

ASIA Week in FX



  • Business confidence reports come to us from NZD and GER
  • Monetary Policy minutes are released in GBP, AUD and JPY
  • Inflation is recorded in GBP and CAD
  • GBP and NZD show us their Current Accounts
  • Building permits and Home sales are delivered in the USD
  • GDP comes to us from CAD and NZD
  • CAD announces its core-retail Sales while the US delivers Durables


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell [6]

Vice-President of Market Analysis at MarketPulse [7]
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell
Dean Popplewell

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