# Forex Major Currencies Outlook (Dec 16, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-dec-16-2016/ Language: en Updated: 2016-12-16 Description: Explore Forex Major Currencies Outlook (Dec 16, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar continued to reign supreme against its counterparts as traders incorporated expectations of three more rate hikes next year. Economic data from the US also supported this upbeat outlook, with manufacturing indices posting impressive gains and CPI readings meeting expectations. US building permits and housing starts data are due today. **EUR** The euro slid to new lows to the dollar but managed to stay afloat against the yen. Flash manufacturing and services PMIs from the region came in mixed, reminding traders that the economy is still on shaky footing and that several risks remain. Euro zone final CPI readings and trade balance are lined up today. **GBP** The pound gave back some of its recent gains as the UK retail sales report simply came in line with expectations of a 0.2% uptick while the BOE was less upbeat than expected. MPC members voted unanimously to keep policy unchanged but warned that adjustments could be made either way, depending on Brexit risks. They added that growth and inflation are likely to be subdued next year. **CHF** The franc advanced against its European counterparts even though SNB officials reiterated that the currency remains overvalued. The lack of any action from the SNB probably drew buyers back to the safe-haven Swiss currency, although it still caved to dollar strength. There are no reports due from the Swiss economy today. **JPY** The yen struggled to regain ground as the Fed’s decision to hike is weighing on bond yields in Japan. There are no reports due from Japan today but traders could start pricing in expectations for the BOJ decision early next week. **Commodity Currencies (AUD, NZD, CAD)** The comdolls gave up ground to the dollar but managed to stay afloat against the euro and the pound. Australia’s jobs report was mixed, with a higher than expected employment change reading and an increase in the unemployment rate. Canadian manufacturing sales posted a 0.8% decline versus the projected 0.7% gain but BOC Governor Poloz turned the attention to the improvements in the property sector. There are no other reports due from the comdoll economies today. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-dec-16-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-dec-16-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-dec-16-2016/", "headline": "Forex Major Currencies Outlook (Dec 16, 2016)", "inLanguage": "en", "datePublished": "2016-12-16T07:51:05+00:00", "dateModified": "2016-12-16T07:51:05+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Dec 16, 2016). USDThe US. 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