On Friday, The U.S. dollar inched lower vs. a basket of major currencies, moving away from a one-week high after the Washington Post reported yesterday that the U.S. President Donald Trump has decided to replace his national security adviser, H.R. McMaster, increasing fresh worries over U.S. political turmoil. Additionally, the Greenback weighed down by concerns over U.S. political, after news that U.S. President Donald Trump is seeking to impose tariffs of up to $60 billion of Chinese imports. On the release front, the university of Michigan consumer sentiment index, which is expected to hit 99.3 from 99.7.
The Single currency rose by 0.23%, to settle at $1.2333, thanks to a weak USD.
Against the JPY, the Greenback fell by 0.64%, to settle at ¥105.67, as traders turned to safest currencies due to concerns over trade wars.
Gold prices rose slightly, as fresh U.S. political worries weighed on the Greenback. The U.S. dollar declined after the Washington Post reported yesterday that U.S. President Donald Trump has decided to replace his national security adviser, H.R. McMaster. Gold Futures - Apr 18 (GCJ8), rose slightly by 0.05%, to settle at $1,318.50.
Early on Friday, oil prices rose slightly, as ongoing concerns over a rapid rise in U.S. crude production threatening to weaken efforts by OPEC and non-OPEC oil major producers. In terms of data, the International Energy Agency (IEA) reported yesterday that the global oil supply increased in February by 700k barrels per day (bpd) from a year ago to 97.9 million bpd. Crude Oil WTI Futures - Crude Oil WTI Futures - Apr 18 (CLJ8) rose as much as 0.05%, to settle at $61.22, and Brent Oil Futures - May 18 (LCOK8) was down by 0.06% at $65.08.
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