Dollar Trades Sideways Ahead of Christmas

USD
On Monday, The Greenback held steady vs. a basket of major currencies in holiday-thinned trading. An official data released last week showed that the U.S. consumer spending accelerated in November and shipments of key capital goods orders rose for the 10^th straight month.

• The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down by 0.13% at 93.221 pips.

EUR
The Single currency rose as much as 0.14%, to settle at $1.1881. The common currency declined on Friday after Catalan separatists won a regional election. No major reports are due from the EU today.

GBP
The Sterling pound edged higher by 0.14%, to settle at $1.3382.

JPY
Against the JPY, the USD fell by 0.03%, to settle at ¥113.26. On the release front, markets are awaiting Japan National Consumer Price, which is expected to hit 0.5% from 0.2%.

Gold
Gold prices rose as much as 0.67%, to settle at $1,279.10, thanks to weak dollar.

Oil
Please note that the Natural Gas contract rolled over on Dec 24, 2017 to the Feb 18 contract and the Brent Oil contract rolled over on Dec 24, 2017 to the Mar 18 contract.

• JPY National Consumer Price Index (YoY) (NOV): (GMT 23:30) – Important – Forecast (0.5%) – Previous (0.2%).
• JPY National Consumer Price Index Ex-Fresh Food (YoY) (NOV): (GMT 23:30) – Important – Forecast (0.8%) – 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.