|Day's Range||1.131 - 1.137|
|52 Week Range||1.1223 - 1.2558|
Some weak numbers out of China this morning weighed on the Aussie Dollar and Kiwi Dollar early, with a busy economic calendar putting focus on the EUR & USD
Investing.com - The U.S. dollar was higher on Thursday, as the number of people who filed for first-time unemployment benefits hit a two-and-a-half month low.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.19% to 97.20 as of 10:18 AM ET (15:18 GMT).The dollar was boosted after the U.S. Department of Labor said that the number of individuals applying for initial jobless benefits in the seven days ended Dec. 8 decreased by 27,000 to a seasonally adjusted 206,000. ...
Investing.com - Despite the fact that the European Central Bank decided to pause on its asset purchase program, its president, Mario Draghi, warned that risks were leaning to the downside, sending the euro briefly to intraday lows.
The Euro continues to go sideways overall during the trading session on Thursday, as we tighten up and have nowhere to go. We are in massive consolidation, and between now and the end of the year that isn’t changing.
Based on the earlier price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the 50% level at 1.1345.
The ending of the QE program does not mean the ECB will immediately start raising interest rates. The ECB currently feels no pressure to raise rates especially since the U.S. Federal Reserve may be preparing to slow down the pace of its own interest rate hikes in 2019. Furthermore, the market isn’t pricing in any ECB rate hikes in 2019 because investors feel the Euro Zone economy may be slowing.
Today, in the EU markets’ focus is the ECB meeting, which often causes strong volatility. Mario Draghi is expected to confirm that the Central Bank will finally stop buying assets by the end of this year.
Investing.com - The U.S. dollar was flat, while the British pound edges down on Thursday in Asia after U.K. Prime Minister Theresa May won a vote of confidence in her leadership of the Conservative Party.
Euro consolidates gains versus US dollar ahead of ECB interest rate decision update.
It’s a big day for Europe, with the ECB Press Conference to drive the EUR and Theresa May’s last ditch efforts in Brussels to influence the GBP.
Investing.com - The U.S. dollar was pushed back by a surge in the pound as traders bet UK Prime Minister Theresa May will survive a vote of no confidence.
Investing.com - The U.S. dollar was lower on Wednesday, as inflation data underlined expectations that the Federal Reserve will slow its pace of rate hikes in 2019.The Labor Department said its consumer price index was unchanged from a month earlier, slowing from the 0.3% increase seen in October. Analysts had forecast a 0.1% increase.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.3% to 97.09 as of 10:11 AM ET (15:11 GMT). ...