News

Dollar Declines to One-Month Low

USD
On Thursday, the Greenback edged down vs. a basket of major currencies, hampered by a recent dip in U.S. 10-year bond yields. Data on Wednesday showed that the U.S. consumer confidence index fell more than forecast in December, dampening optimism over the outlook for the consumption-driven economy. On The Release front, traders are awaiting the U.S. initial jobless claims data, which is expected to hit 240K, from 245K.

  • The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down by 0.30% at 92.750 pips, its weakest level in almost four weeks.

EUR
The Common currency rose as much as 0.27%, to settle at $1.1927, hitting three-week highs.  

GBP
The Sterling pound rose as much as 0.29%, to settle at $1.3441. No major reports are due from the UK today.

JPY
Against the JPY, the USD fell as much as 0.30%, to settle at ¥112.86.

Gold
Earlier today, Gold prices rose to a one-month high, in holiday-thinned trading as weakness in the Greenback backed the precious metal.

Gold Futures - Feb 18 (GCG8), rose as much as 0.22%, to settle at $1,294.20.

Oil
Oil prices edged up, backed by strong data from top importer China amid soft trading activity ahead of the New Year weekend. Crude Oil WTI Futures - Jan 18 (CLF8) fell as much at 0.27% at $ 59.50 and Brent Oil Futures - Jan 18 (LCOF8) was down by 0.30% at $ 66.19.

The most important economic events:

  • USD Advance Goods Trade Balance (NOV): (GMT 13:30) – Important – Forecast (-$67.7b) – Previous (-$68.3b).
  • USD Chicago Purchasing Manager (DEC): (GMT 13:30) – Important – Forecast (62) – Previous (63.9).

Disclaimer
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