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Pre-Holiday Data Keeps USD on Track versus EUR

Pre-Holiday Data Keeps USD on Track versus EUR

Talking Points

- EUR/USD slips below $1.0600 as US-Ger 2Y yield hits widest spread since 2006.

- Inflation aspect of data soft, but consumption figures look promising.

- Read the report on the US Dollar and the December 16 Fed meeting.

US economic data came in mixed but mostly better this morning, confirming what's been a rather soft environment but one in which the Federal Reserve may ultimately feel comfortable with raising rates in December. While the inflation aspect of the reports was disappointing - core PCE missed expectations - the weekly jobs figures as well as the durable goods report suggest that underlying inflation should be at least supported going forward.

Here's the data impacting the US Dollar this morning (and what's still to come):

See the above video for technical considerations in EUR/USD, USD/JPY, GBP/USD, AUD/USD, and the USDOLLAR Index after this morning's batch of data, as well as an update for our the most recent analyst pick, short EUR/JPY.

Read more: Fed Rate Hike Cycle Doesn’t Necessarily Bode Well for US Dollar

Lastly, as we approach the holidays and thus less liquid markets through the end of the year, it's worth reviewing principles that help protect your capital. We call these principles the "Traits of Successful Traders."

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail

Follow him on Twitter at @CVecchioFX

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.