Euro Down on Catalan vote

USD

On Friday, The Greenback traded high vs. a basket of major currencies, but it remained on track for weekly declines, while the single currency declined after indicated a victory for separatists in a blow to Madrid. On the release front, markers are awaiting Durable Goods Orders index, which is expected to hit 2.0% from -0.8%.

• The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down by 0.09% at 93.364 pips.

EUR

The common currency declined after pro-independence parties in Catalonia won an absolute majority in regional elections yesterday. The EUR fell as much as 0.13% vs. the USD, to settle at $1.1860.

GBP

The Sterling pound fell as much as 0.11% vs. the Greenback, to settle at $1.3371.

JPY

Against the JPY, the USD rose slightly by 0.02%, to settle at ¥113.36. Yesterday, the BOJ Governor Haruhiko Kuroda reinforced anticipations that the BOJ was in no hurry to move away from its ultra-loose monetary policy.

Gold

Earlier today, Gold prices continued to hover near their highest levels in two-and-a-half week, despite a mild rebound in the USD as trading volumes are expected to remain weak before the Christmas holiday. Gold Futures - Feb 18 (GCG8) rose by 0.07%, to settle at $1,271.50.

Oil

Oil prices traded lower negatively affected by rising U.S. output and the expected January re-opening of the Forties pipeline in the North Sea. However, oil markets remained well backed by ongoing supply cuts led by Russia and OPEC.

Crude Oil WTI Futures - Jan 18 (CLF8) fell as much at 0.46% at $58.09 and Brent Oil Futures - Jan 18 (LCOF8) was down by 0.29% at $64.71.

The most important economic events:

• CAD Gross Domestic Product (YoY) (OCT): (GMT 13:30) – Important – Forecast (3.5%) – Previous(3.3%).
• USD PCE Core (YoY) (NOV): (GMT 13:30) – Important – Forecast (1.5%) – Previous (1.4%).
• USD Durable Goods Orders (NOV P): (GMT 13:30) – Important – Forecast (2.0%) – Previous (-0.8%).

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.