The U.S. Dollar Awaits

The Greenback settled against a basket of major currencies in the wake of some clarity on the House vote on the Trump’s healthcare bill. The U.S. dollar settled as investors were worried that Trump's economic plan to cut taxes and boost the U.S. economy could be delayed.

The Trump healthcare plan could be a key moment in the political history of his presidency. The Greenback is on a wait as the Vote could be held today.

  • The U.S. dollar index settled at 99.50 yesterday specially with investors being worried that Trump's economic plan could take a while and with his health care bill that was hit by vote delay.

The Sterling pound jumped to a month's high against the Greenback after retail sales data in the United Kingdom unexpectedly rose as much as 1.4%, soothing concerns about weakening consumer sentiment in the UK as it prepares to leave the EU. Cable settled at $1.25 vs. USD and could settle at such level during the day.

Gold prices fell to $1,245, ending a run of five straight daily gains, as new data show U.S. home sales advanced for the second consecutive month in February. The precious metal was largely affected by U.S. weekly unemployment benefit applications as it jumped to 258k. Technically, the yellow metal could settle above $1,240 in anticipation of U.S. manufacturing data, which will be released today.

Oil prices declined further yesterday and settled below $48 as U.S. crude supplies rose.

The most important economic events:

  • USD Durable Goods Orders (FEB P): (GMT 12:30) – Important – Forecast (1.2%) – Previous (2.0%).

The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.

CFDs and Spot FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Your profit and loss will vary according to the extent of the fluctuations in the price of the underlying markets on which the trade is based. Read More
Read More
Mail Call Chat