IronFX Daily Commentary by Charalambos Pissouros

Euro jumps amid thin liquidity conditions
• The common currency spiked higher against its major peers in early Asian trading.
• No fundamental story behind the move.
• Thin liquidity market conditions and perhaps some end-of-year portfolio rebalancing may be behind it.
• Considering that liquidity is likely to remain very thin in coming days, we may see similar moves occurring.

As for today’s indicators:
• US: Chicago PMI for Dec. is exp. to decline somewhat. Usually not a major market mover, but in such a quiet day, it could give USD bears an excuse to push the currency a bit lower.

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