Forex Today: Dollar down in thin market conditions
|Here is what you need to know on Friday, December 27th:
- The American dollar ends the day with losses against most major rivals in thin market conditions. Major pairs remain within limited ranges while trading is dull, as most markets have been closed on holidays.
- Encouraging comments from the Chinese Foreign Minister and US President Trump, both indicating that there are close to a signing ceremony where the two countries will seal phase one of the trade deal, put the market in risk-on mood.
- The EUR/USD pair advanced above 1.1100, while the GBP/USD pair re-took the 1.3000 mark, amid broad dollar’s weakness, but chances of firmer gains are quite limited.
- The Bank of Japan Governor Kuroda said that the central bank would ease policy further without hesitation if the momentum toward its 2% inflation goal came under threat, although he also sounded more confident in the global economic outlook. USD/JPY near December high.
- The Canadian dollar is the strongest, although there was no catalyst behind its advance.
- Spot gold extended gains to %1,510.00 a troy ounce.
- All major markets will be open this Friday, but little action is to be expected.
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