Dollar Trades Under Pressure

USD
On Thursday, the Greenback traded lower against a basket of major currencies, as market players remained cautious ahead of a wave of U.S. economic reports due later in the day. On the release front, traders are waiting the Housing Starts, which is expected to hit -1.7% from 3.3%.

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 90.38.
EUR
The Single currency rose by 0.43%, to settle at $1.2239, the common currency declined from a three year high of $1.2323 yesterday after comments by European Bank officials reflected unease over the EUR’s recent strong gains.

GBP
The Sterling pound rose by 0.35%, to settle at $1.3878, after hitting $1.3941 yesterday, the highest level since Britain’s vote to exit the EU in June 2016.

Gold
Early on Thursday, Gold prices fell for the first time in six sessions, as traders are awaiting an important data to gauge if the U.S. economy is strong enough to withstand multiple rate hikes in 2018.

Gold Futures - Feb 18 (GCG8), fell by 0.63%, to settle at $1,330.80

Oil
Earlier today, Oil fell slightly, amid speculation weekly supply data due later in the day could show an increase in U.S. gasoline and fuel supplies.

Crude Oil WTI Futures - Feb 18 (CLG8) rose as much as 0.02% as $ 63.98 and Brent Oil Futures - Mar 18 (LCOH8) was down by 0.06% at $69.34.

The most important economic events:USD Housing Starts (MoM) (DEC): (GMT 13:30) – Medium -Forecast (-1.7%) – Previous (3.3%).

USD Housing Starts (MoM) (DEC): (GMT 13:30) – Medium -Forecast (-1.7%) – Previous (3.3%).
USD Building Permits (MoM) (DEC): (GMT 13:30) – Medium -Forecast (-1.0%) – Previous (-1.4%)

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