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Forex Today: US Nonfarm Payrolls data to ramp up volatility
Here is what you need to know on Tuesday, December 16:
Pound Sterling Price News and Forecast: GBP/USD trades in red ahead of the UK labor market data
The UK Office for National Statistics (ONS) will publish its labor market report at 07.00 GMT. The UK ILO Unemployment Rate is expected to rise to 5.1% in October from 5.0% in September. Employment Change arrived at -22K in September.
US Dollar Index softens below 98.50 ahead of US NFP data
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades on a negative note near 98.25 during the early European trading hours on Tuesday.
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Gold prices fell in Saudi Arabia on Tuesday, according to data compiled by FXStreet.
Philippines Gold price today: Gold falls, according to FXStreet data
Gold prices fell in Philippines on Tuesday, according to data compiled by FXStreet.
India HSBC Services PMI: 59.1 (December) vs previous 59.8
India HSBC Services PMI: 59.1 (December) vs previous 59.8
India HSBC Manufacturing PMI fell from previous 56.6 to 55.7 in December
India HSBC Manufacturing PMI fell from previous 56.6 to 55.7 in December
India HSBC Composite PMI declined to 58.9 in December from previous 59.7
India HSBC Composite PMI declined to 58.9 in December from previous 59.7
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Gold prices fell in United Arab Emirates on Tuesday, according to data compiled by FXStreet.
Pakistan Gold price today: Gold falls, according to FXStreet data
Gold prices fell in Pakistan on Tuesday, according to data compiled by FXStreet.
FX Today: Hasset leaves the spotlight, weaker USD
The US Dollar Index (DXY) declined sharply following the Fed's policy announcements last Wednesday and closed a third consecutive week in negative territory. Late Monday, the USD Index trimmed part of its losses and trades near 98.40.
USD/JPY Price Forecast: Pair stalls below 156.00 as momentum fades
The Japanese Yen (JPY) trades on the front foot against the US Dollar (USD) on Monday, supported by firm expectations that the Bank of Japan (BoJ) will raise interest rates at its December 19 monetary policy meeting.
Gold holds steady as traders weigh Fed stance and upcoming data
Gold (XAU/USD) holds firm on Monday after hitting a daily high of $4,350 earlier, but traders booking profits sent the yellow metal to erase its earlier gains as the Greenback continues to print losses. XAU/USD trades at $4,296 virtually unchanged.
AUD/USD trades lower as US Dollar firms ahead of delayed US NFP data
AUD/USD remains under pressure on Monday, with the Australian Dollar (AUD) edging lower as the US Dollar (USD) stages a modest rebound ahead of a heavy US economic docket due on Tuesday. At the time of writing, AUD/USD is trading around 0.6637, staying on the back foot for a third consecutive day.
Pound Sterling Price News and Forecast: GBP/USD nears 1.3400 as traders brace for BoE cut
GBP/USD advances during the North American session up 0.28% amid a scarce economic docket but following the Federal Reserve’s last week’s monetary policy decision, in which the central bank hinted a possible pause loom.
Rotation hits tech again, Bitcoin struggles to hold $87K
The rotation out of tech continues to pressure the Nasdaq, while risk appetite remains muted ahead of a busy schedule for the week, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.
EUR/USD trades near multi-week highs amid softer US Dollar, cautious Fed outlook
The Euro (EUR) strengthens against the US Dollar (USD) on Monday as the Greenback remains under sustained pressure following last week’s 25 basis point (bps) interest rate cut by the Federal Reserve (Fed). At the time of writing, EUR/USD is trading around 1.1760, its highest level since October 1.
Fed's Williams: It is critical for the US central bank to get inflation back to 2%
Federal Reserve (Fed) Bank of New York President John Williams said that he projects the jobless rate will come back down over the next few years at an event hosted by the New Jersey Bankers Association. Audience questions expected on Monday.
Canada: Home sales remained flat in November – NBC
Canadian home sales were broadly unchanged in November, with weakness across most provinces offset by gains in the West.
GBP/USD nears 1.3400 as traders brace for BoE cut
GBP/USD advances during the North American session up 0.28% amid a scarce economic docket but following the Federal Reserve’s last week’s monetary policy decision, in which the central bank hinted a possible pause loom.
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