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Hello everyone, today XM Forex will bring you "[XM Group]: The US dollar fell below the 99 mark, US data weakened". Hope this helps you! The original content is as follows:
December 4 The U.S. dollar stabilized early Thursday. The European Economic Calendar will release October retail sales data. In the second half of the day, market participants will be closely watching weekly U.S. initial jobless claims data.
On Wednesday, Automatic Data Processing (ADP) reported that U.S. private sector employment fell by 32,000 in November. This figure follows the 47,000 increase recorded in October and was below market expectations for a 5,000 increase. Other US data showed the Institute for Supply Management's (ISM) Services Purchasing Managers' Index (PMI) edged up to 52.6 in November from 52.4 in October. The employment index surveyed by the PMI was 48.9, reflecting the continued contraction of employment in the service industry. The U.S. dollar index fell after the release of these data, falling to its lowest since late October, near 98.80. Earlier on Thursday, the U.S. dollar index was back at 99.00. Meanwhile, U.S. stock futures were mixed, with Wall Street's major indexes closing in positive territory on Wednesday.
During the Asian trading session on Thursday, Bank of Japan Governor Kazuo Ueda said that it was still uncertain to what extent they would ultimately be able to raise interest rates. Meanwhile, Japan's Chief Cabinet Secretary Minoru Kihara said in a statement that he was concerned about the volatility in the foreign exchange market. After falling about 0.4% on Wednesday, USD/JPY remained calm during early European trading on Thursday, trading sideways below 155.50.
EUR/USD continued its upward trend mid-week, hitting its highest point since October 17, near 1.1680. The pair is trading lower on Thursday morning in Europe, trading around 1.1650.
Slightly lower on Monday and TuesdayAfter falling, GBP/USD reversed direction and rose more than 1% on Wednesday. The pair was slightly lower early on Thursday but held steady above 1.3300.
The Australian dollar maintains its bullish momentum against the US dollar, trading just above 0.6600 on Thursday, rising nearly 1% this week.
Huang continued to experience moderate bearish pressure in early European trading on Thursday, trading below $4,200.
Euro: The intraday bias of EUR/USD is still rising. The decline that started at 1.1917 was supposed to be www.xmasseuse.completed at 1.1467. Further gains towards the 1.1727 resistance should first be seen. A strong breakout here will bring about a retest of the 1.1917 high. However, a break below the minor support at 1.1590 would affect the outlook, reviving the neutral bias.
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