Morning Commentary & Currency Insights – December 13, 2018

Very quiet overnight session with tight ranges in most currency pairs including Sterling which has maintained gains garnered yesterday in anticipation of PM May’s political survival before she heads to Brussels for further Brexit discussions.  The ECB has left rates unchanged as anticipated as we now await the news conference scheduled for 8:30AM EST.  Markets continue to thin out ahead of Christmas and any Sino/American trade war headlines will have the potential to create volatile moves.

USD/CAD remains in the mid 1.33’s with little to inspire moves outside of recent ranges.  Support remains 1.3315-20 and 1.3250-55 while resistance above is noted at 1.3385 and 1.3415-20.