Trading news

USD hits 2-Week Highs as Risk Appetite Flourishes

USD

On Thursday, the Greenback inched up to two-week highs vs. a basket of major currencies as risk appetite increased, amid optimism on U.S. tax reforms and clues of ongoing strength in the U.S. labor market. Meanwhile, data on Wednesday showed that the U.S. private sector increased by 190k jobs last month. Looking ahead, traders are awaiting Friday's nonfarm payrolls report, which would be the last employment report before the Federal Reserve's monetary policy meeting next week.

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% 93.66 pips.

EUR

The Single currency fell by 0.05% vs. the Greenback to settle at $1.1789. Meanwhile, market players are awaiting the ECB President Draghi's Speech, which is expected to mention to the central bank's monetary policy.

GBP

The Sterling pound rose as much as 0.10%, to settle at $1.3405.

JPY

The Greenback rose by 0.35%, to settle at ¥112.66, as risk appetite improved amid optimism on U.S. tax reforms and signs of ongoing strength in the U.S. labor market.

Gold

Earlier today, Gold prices edged lower, as optimism towards U.S. legislators’ making progress on tax legislation continued to increase while concerns over a potential government shutdown decreased. Gold Futures - Feb 18 (GCG8), fell as much as 0.53%, to settle at $ 1,259.40.

Oil

Oil prices rose, but settled near the prior session's three-week lows amid worries over rising production in the U.S. On the release front, an official data showed U.S. gasoline stocks rose by 6.8 million barrels, much higher than anticipations. Crude Oil WTI Futures - Jan 18 (CLF8) rose as much at 0.41 % at $ 56.17 and Brent Oil Futures - Jan 18 (LCOF8) was down by 0.51% at $61.53.

The most important economic events:

EUR Draghi holds conference as GHOS chair in Frankfurt: (GMT 16:00) – Important –
USD Consumer Credit (OCT): (GMT 20:00) – Medium – Forecast ($16.350b) – Previous ($20.830b).

Disclaimer
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.

ICM Capital Limited Review

Thursday, 07 Dec, 2017 / 1:27

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.icmcapital.co.uk/en/news/company/2017-12-07/

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