General News

The U.S. Dollar Recovers

The U.S. Dollar Recovers
11th January 2018
USD
On Thursday, the U.S. dollar settled high vs. a basket of major currency as comments by China’s foreign exchange regulator eased worries that China may decrease its buying of U.S. government bonds. On the release front, traders are awaiting the U.S. Initial Jobless Claims (JAN 06), which is expected to hit 245k from 205k.
• The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up by 0.14% at 92.24 pips.
EUR
The Single currency fell by 0.09%, to settle at $1.1936, having retreated from Wednesday’s intraday high of $1.20185. on the release front, market players are awaiting German Gross Domestic Product NSA (YoY) (2017), which is expected to hit 2.3% from 1.9%.

GBP
The Sterling pound fell by 0.16%, to settle at $1.3486. On the economic calendar for Thursday, traders are awaiting Bank of England Credit Conditions & Bank Liabilities Surveys.
JPY
Against the JPY, the USD rose by 0.27%, to settle at ¥111.74 as the dollar and U.S. Treasuries gained some buying support after the regulator’s comments.
Gold
Earlier today, Gold prices edged down, as the Greenback recovered vs. a basket of major currencies after China’s regulator called a report about Beijing slowing or halting of its U.S. bond buying possibly wrong. Gold Futures – Feb 18 (GCG8), fell as much as 0.11%, to settle at $ 1,317.80.
Oil
Crude prices settled high drawing support from a report showing U.S. crude oil stocks declined last week for the eighth consecutive week. Crude Oil WTI Futures – Feb 18 (CLG8) rose as much as 0.31% as $63.77 and Brent Oil Futures – Mar 18 (LCOH8) was up by 0.23% at $69.36.

The most important economic events:
• EUR German Gross Domestic Product NSA (YoY) (2017): (GMT 09:00) – Important – Forecast (2.3%) – Previous (1.9%).
• GBP Bank of England Credit Conditions & Bank Liabilities Surveys: (GMT 09:00) – Important
• EUR ECB account of the monetary policy meeting: (GMT 12:30) – Important
• USD Initial Jobless Claims (JAN 06): (GMT 13:30) – Important – Forecast (245k) – Previous (250k).
We wish you all the best in your trading activities. For any further assistance, please do not hesitate to contact us at clientservices@ICMCapital.co.uk

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