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 Common currency rose as much as 0.27%, to settle at $1.1927, hitting three-week highs.
The Sterling pound rose as much as 0.29%, to settle at $1.3441. No major reports are due from the UK today.
Against the JPY, the USD fell as much as 0.30%, to settle at ¥112.86.
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 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:
The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.