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On Friday, the American dollar went down versus other key currencies, drifting away from a recent two-week peak as market participants were preparing for a fresh storm of American data due later in the day, right after upbeat economic reports underpinned US optimism.
The currency pair EUR/USD went up 0.30%, trading at 1.1179, bouncing off last session’s two-week dip of 1.1130, after the IMF along with the euro zone's 19 finance ministers underpinned a payout of €8.5 billion to Greece for the purpose of averting another debt crisis.
The evergreen buck gained broadly after the publication of encouraging data on American initial jobless claims and on manufacturing activity in the Philadelphia as well as New York areas.
The data arose just a day after the Fed lifted interest rates in a highly anticipated move.
The currency pair USD/JPY soared 0.34%, trading at 111.30, while USD/CHF lost 0.25%, being worth 0.9728.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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