The news is by your side.
AED
$0.27
-0.88%
AFN
$0.01
-0.88%
ALL
$0.01
-0.88%
AMD
$0.00
-0.88%
ANG
$0.56
-0.88%
AOA
$0.00
-0.88%
ARS
$0.01
-0.88%
AUD
$0.71
-1.09%
AWG
$0.56
-0.88%
AZN
$0.59
-0.88%

Forex Today: Dollar weakness remains short-lived ahead of New Year holiday


Here is what you need to know on Thursday, December 30:

The greenback faced selling pressure in the second half of the day on Wednesday but managed to limit its losses early Thursday with the US Dollar Index staying in the positive territory above 96.00. In the absence of high-tier data releases, the improving market mood made it difficult for the dollar to find demand but rising US Treasury bond yields are helping the currency show resilience against its rivals. The benchmark 10-year US Treasury bond yield rose nearly 5% on Wednesday and seems to have settled above 1.5%. Later in the session, the US Department of Labor’s weekly Initial Jobless Claims report and the ISM Chicago’s PMI for December will be the last data releases of the year. In the meantime, US stocks futures are trading flat in the early European session, reflecting a neutral risk sentiment so far.

EUR/USD touched its highest level in a month at 1.1370 on Wednesday but struggled to preserve its bullish momentum. The pair was last seen edging lower toward 1.1300.

GBP/USD climbed above 1.3500 for the first time in five weeks during the Asian trading hours but lost its traction. The pair is currently posting small daily losses near 1.3470.

USD/JPY capitalized on rising US Treasury bond yields and advanced beyond 115.00 in the early European session on Thursday.

Gold dropped below $1,790 pressured by the sharp upsurge witnessed in the 10-year US T-bond yield on Wednesday but managed to erase a large portion of its daily losses. Nevertheless, XAU/USD seems to be having a hard time reclaiming $1,800.

Bitcoin closed the second straight day in the negative territory on Wednesday and stays relatively quiet around $47,000 early Thursday. Ethereum touched its lowest level in three weeks at $3,585 before staging a technical correction toward $3,700.

 



Read More : Forex Today: Dollar weakness remains short-lived ahead of New Year holiday

You might also like
Leave A Reply

Your email address will not be published.