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Japan's Core Consumer Prices Rise for the 11th Straight Month In November

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USD
On Tuesday, Greenback held steady in Tuesday's holiday-thinned trade, disregarding upbeat Japanese economic data as traders thought about next year's potential opportunities.

  • The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down by 0.2% at 93.253 pips.

EUR
The Single currency fell by 0.11% vs. the USD, to settle at $1.1860. There is no specific direction for the FX-markets as major markets are closed.

GBP
The Sterling pound edged down by 0.03%, to settle at $1.3366 vs. the Greenback. No major reports are due from the UK today.

JPY
The market shrugged off data showing that Japan's core consumer prices rose for the 11 consecutive month, up 0.9% year-on-year, and household spending jumped in November, offering the BOJ some hope a steady economic recovery will gradually drive up inflation to its 2 percent target. Against the JPY, the Greenback rose as much as 0.04%, to settle at ¥113.30.

Gold
Earlier today, Gold prices settled high, touching a more than three-week high, in low-volume trade amid a weaker USD. Gold Futures - Feb 18 (GCG8), rose as much as 0.28%, to settle at $ 1,282.40.

Oil
Oil prices fell slightly, with Brent crude lingering near two-year highs thanks to high demand amid ongoing production cuts led by Russia and OPEC. Crude Oil WTI Futures - Jan 18 (CLF8) fell as much at 0.10% at $ 58.41 and Brent Oil Futures - Jan 18 (LCOF8) was down by 0.14% at $64.64.

The most important economic events:

  • USD S&P/Case-Shiller US Home Price Index (YoY) (OCT): (GMT 14:00) – Medium – Forecast (N/A) – Previous (6.15%).

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.

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