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Japan Consumer Confidence Hit 4-Year Highs

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USD

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 U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up by 0.32% at 93.186 pips.

EUR

The Single currency fell as much as 0.30%, to settle at $1.1860.

GBP

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.

JPY

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

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

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:

  • GBP Markit/CIPS UK Construction PMI (NOV): (GMT 09:30) – Important – Forecast (51) – Previous (50.8).
  • USD Factory Orders (OCT): (GMT 15:00) – Important – Forecast (-0.4%) – Previous (1.4%).
  • USD Durable Goods Orders (OCT F)

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