With much of Europe closed today, we expect trading volumes to be light on the last day of 2015.
There are official bank holidays in Germany, Japan, New Zealand and Australia and this should limit activity in the euro, Japanese yen, Australian and New Zealand dollars.
Although London is open, the normal course of business is for trading rooms to square up positions in the morning and for the banks to close early.
It will be up to New York to close Thursday’s and the year’s business. The Department of Labor will publish its final weekly Unemployment Claims data. However with the Federal Reserve having already given its decision on interest rates, it is doubtful that the Federal Reserve Chairwoman, Janet Yellen will interrupt her well-deserved festive break.
On that note, ACFX would like to wish all our clients and partners a prosperous and happy new year.