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December 29, 2017

FXPRIMUS, Is USD getting weaker as the year end approaches?

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Weaker Dollar as year end approaches! Today’s Important Indicators.

This article is originally referred from FXPrimus News.

No important releases for today as most statistics boards are away on holidays.

Today’s Forecast for Important Trading Indicators

Market Movers

  • EURUSD – EURUSD continued to rise in a slow but steady motion reaching 1.1958 during the Asian session.
  • USDJPY – Found support at 112.70. USDJPY fell, however found support at 112.70.
  • GBPUSD – Range Trading. The cable was trading in a range during the Asian session this morning ahead of a long holiday weekend.
  • Gold continued to rally in Asia touching 1296 and just $4 shy from the 1300 USD handle.

It has been a good year for the Asian currencies against the greenback. Generally, in 2017 most of the currencies showed good return against the USD.

The year-end final week theme continues, as the dollar remains on the backfoot today.

CNY leads gains after the PBOC strengthened the Yuan at the fix to its highest point in 3 months.

Should USDCNY remain near current levels, this year would be the best performance in the Yuan against the Dollar since 2008.

We wish everyone a Happy New Year and we will back on the 2nd of January 2018!

Original Source: FXPrimus News

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