On Tuesday, the Greenback fell slightly vs. a basket of major currencies, but remained in sight of two-month lows as market players stayed cautious ahead of a possible Senate vote on a U.S. tax plan later this week.
Demand for the single currency increased after data late last week pointing to strong growth in the Eurozone helped overcome traders’ worries over political uncertainty in the euro zone's largest economy. The EUR declined by %0.05 vs. the USD, to $1.1892.
The Sterling pound fell as much as 0.05% vs. the USD, to $1.3309. The UK’s economy has lost momentum this year as higher inflation eats into households' disposable income.
The USD rose slightly vs. the JPY by 0.03%, to ¥111.28 hovering above Monday’s two-month trough of 110.83, as traders were concerned by Japanese media reports saying that North Korea may be preparing for another missile launch.
Gold prices traded lower, settling back from the prior session's 6-week highs as traders are awaiting comments from the next head of the Federal Reserve for fresh sings on the likely trajectory of the U.S. monetary policy. Gold Futures - Dec 17 (GCZ7 dipped by 0.14%, to $ 1,292.58.
Crude prices edged lower amid anticipations of higher supply in the U.S. as the Keystone pipeline restarts and amid uncertainty over a possible extension of output cuts by major producers. Worries over Russia's determination to join with other major oil producers in extending crude production curbs beyond March 2018 have affected on oil markets.
On the release front, markets are awaiting the API Weekly Crude Oil Stock results, to gauge the strength of demand in the world’s largest energy consumer.
Crude Oil WTI Futures - Jan 18 (CLF8) fell as much as 0.77 % at $57.66 and Brent Oil Futures - Jan 18 (LCOF8) was down by 0.30% at $63.19.
The most important economic events:
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