On Friday, the Greenback recovered slightly from heavy losses and rose vs. a basket of major currencies and JPY, as market players turned to riskier assets amid rapidly shifting views on U.S. monetary policy. On the release front, traders are awaiting the U.S. Baker Hughes Rig Count.
The Single currency fell by 0.18%, to settle at $1.2308, after gaining 0.4% the previous session.
The USD rose by 0.06% vs. the CAD, to settle at $1.2712. On the release front, traders are awaiting Canadian Consumer Price Index, which is expected to hit 1.5%, from 1.9%.
Against the JPY, the USD rose by 0.16%, to settle at ¥106.92. No reports are due from Japan today.
Earlier today, Gold prices declined and touched their lowest levels in 2-1/2 months as the Greenback strengthened during the week. Gold Futures - Apr 18 (GCJ8), fell by 0.20%, to settle at $1,330.10.
Early on Friday, Oil prices edged down after touching more than two-week highs in the previous session. Data on Thursday showed that oil prices traded higher after the U.S. EIA reported that crude oil inventories declined by 1.6 million barrels, compared to anticipations for a an increase of about 1.8 million barrels.
Crude Oil WTI Futures - Mar 18 (CLH8) fell as much as 0.46%, to settle at $ 62.48, and Brent Oil Futures - Apr 18 (LCOJ8) was down by 0.53% at $ 66.04.
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.