On Thursday, the Greenback edged higher against the JPY, but fell overall on a weighted-basis as the GBP and EUR showed strength with traders awaiting the U.S. Senate on Donald Trump's tax bill. Data on Wednesday showed that the U.S. Gross Domestic product (GDP) increased at a 3.3% annual rate in the July-September period, the US Commerce Department said in its second estimate of GDP beating a previous estimate of 3%. On the release front, markets are awaiting the U.S. PCE Core, which is expected to hit 1.4% from 1.3%.
The EUR declined vs. the USD by 0.15% with the EUR/USD at $1.1829. On the release front, traders are awaiting German Unemployment Change as well as Euro-Zone Consumer Price Index.
The sterling pound rose by 0.48% vs. the Greenback to 1.3474 after European Union diplomats said that Britain has moved "close" to EU demands over Brexit.
Against the JPY, the Greenback rose as much as 0.45%, to settle at ¥112.43. Looking ahead, markets are awaiting Japan National Consumer Price Index.
Gold prices rose due to geopolitical worries as the US ambassador to the UN Nikki Haley suggesting a complete oil embargo on North Korea. Gold Futures - Dec 17 (GCZ7), fell as much as 0.19% 1,279.85.
Crude oil prices recovered as the market player are awaiting full details of a widely expected extension of OPEC-led output curbs. OPEC and non-OPEC oil producers could extend output curbs until the end of 2018, but likely review the deal in June of 2018 depending on market conditions.
Crude Oil WTI Futures - Jan 18 (CLF8) rose as much at 0.40 % at $ 57.53 and Brent Oil Futures - Jan 18 (LCOF8) was up by 0.45% at $62.81.
The most important economic events:
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