Jobless claims tumbled to 247,000 in the week ending 16th April,the lowest level since 1973, according to U.S Labor Department. USD index settled at 94.60 point, thanks to good U.S data.
On Thursday, Euro rose against its U.S. counterpart, following the European Central Bank decision and during the press conference, but fell back to $1.1270 following Draghi's hawkish comments.
GBP dives to $1.43, negatively affected by the high cost of borrowing and the contraction of retail sales.
USD was flat against JPY at 109.50 and it is likely to settle around it by the end of the day. From a technical point of view, the pair could re-test the psychological level of 110.
Gold was as high as $1,270, thanks to weak USD. However, quickly gave up all its gains and fell to $1,250 at the end of Thursday's trading. The Yellow metal could settle at $1,250 by the end of the day.
Oil prices declined yesterday, after recording its highest level in more than five months. WTI settled above $43.50 and could end the week with this level, thanks to the Kuwait strike.
The most important economic events:
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.