On Monday, the U.S. dollar hit to a two-week highs after the U.S. Senate passed a tax bill over the weekend, boosting anticipations for a faster pace of rate increases from the U.S. Federal Reserve. On the economic calendar for Monday, markets are awaiting Durable Goods Orders index.
The Single currency fell as much as 0.30%, to settle at $1.1860.
The Sterling pound edged lower by 0.22% against the Greenback to settle at $1.3443. Attention now turns to this today’s meeting between British PM Theresa May anpd EU Commission President Jean-Claude Juncker to work on a Brexit agreement.
The JPY fell as much as 0.64% vs. the USD, with USD/JPY at ¥112.91. Japanese consumer confidence improved in November to its highest level in four years, supported by surging stock prices and a strong job market.
Gold prices drafted lower amid anticipations that US tax code are closer to passage. Gold Futures - Feb 18 (GCG8) fell by 0.44%, to settle at $1,276.70.
Oil prices traded lower after the U.S. Crude inventories increased by 1.8 million barrels in the week to Nov. 24 to 457.3 million, compared with market anticipations for a decrease of 2.3 million barrels. Meanwhile, OPEC and non - OPEC major producers led by Russia agreed to extend output cuts until the end of 2018, while also signaling a possible early exit from the deal if the market overheats.
Crude Oil WTI Futures - Jan 18 (CLF8) fell as much at 0.75 % at $ 57.92 and Brent Oil Futures - Jan 18 (LCOF8) was down by 0.42% at $63.47.
The most important economic events:
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