# Forex Major Currencies Outlook (Dec 20, 2017) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-dec-20-2017/ Language: en Updated: 2017-12-20 Description: Explore Forex Major Currencies Outlook (Dec 20, 2017). USD The US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar was advancing ahead of the tax bill vote as housing data turned out stronger than expected. Building permits dipped 1.4% but landed higher than expected at 1.30 million versus the 1.27 million forecast. The current account deficit also posted a smaller than expected shortfall. However, even after the House voted to approve the tax reform bill, reports that another vote will need to be made on account of procedural conflicts with Senate forced the currency back down. Only the existing home sales report is due from the US today. **EUR** The euro got a strong boost on hawkish remarks from a couple of ECB officials then by the announcement that Germany will release more bonds next year. This drove yields higher even in other euro zone nations, propping the shared currency higher. Data was actually weaker than expected as the German Ifo business climate index fell from 117.6 to 117.2 versus expectations of it remaining unchanged. German PPI and euro zone current account balance are due next. **GBP** The pound was in a weak spot despite the lack of economic data as traders appear to be reducing their exposure for the next round of Brexit talks. BOE Governor Carney has a speech lined up today and could also spark additional volatility for pound pairs. **CHF** The franc gave up ground to most of its peers as risk-taking was in play and the euro appeared the preferred safe-haven bet. There were no major reports out of Switzerland yesterday and none are due today, so market sentiment and currency-specific factors could come into play. **JPY** The yen was also in a weak spot leading up to the BOJ decision later this week. There has been talk of a “reversal rate” by Governor Kuroda, prompting speculations that the central bank might also start unwinding stimulus at some point. Still, US bond yields have kept a lid on yen gains so far. **Commodity Currencies (AUD, NZD, CAD)** The comdolls returned some of their recent gains on profit-taking and a few road bumps. New Zealand reported a 3.9% drop in dairy prices during the latest GDT auction while its current account and trade balance fell short of estimates. EIA crude oil inventories are due next, after the API reported another larger than expected draw. New Zealand quarterly GDP is also due. *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-20-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-dec-20-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-dec-20-2017/", "headline": "Forex Major Currencies Outlook (Dec 20, 2017)", "inLanguage": "en", "datePublished": "2017-12-20T07:41:53+00:00", "dateModified": "2017-12-20T07:41:53+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Dec 20, 2017). USD The US. 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