Forex Weekly Outlook Dec. 17-21 – Fed And Fears Determine The Dollar’s Close Of The Year

The US Dollar reasserted itself as concerns about China, Brexit, and other topics dominated the headlines. What’s next? The Fed decision is the central event of the last week before the holidays. Here the highlights for the next week.

Trade tensions between the US and China dropped as both countries, and especially China made gestures. On the other hand, Chinese industrial output and retail sales badly disappointed, weighing on sentiment. The Brexit drama reached new highs. UK PM withdrew the vote on the Brexit deal after realizing she did not have enough support. She was then challenged by rebels in her party and managed to win the vote, albeit with a small majority. She tried to renegotiate the thorny issue of the Irish backstop with her European counterparts, but both sides are far from an agreement. In the euro-zone, the ECB announced the end of QE, as expected, but also said that the balance of risks is moving to the downside. Weak PMI’s also weighed on the Euro.

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