On Thursday, the Greenback settled vs. a basket of the other major currencies, having declined after the U.S. Federal Reserve increased interest rates for a third time this year as widely expected, but kept its interest rate anticipations for the next year unchanged. On the release front, traders are awaiting the U.S. Retail Sales Advance, which is expected to hit 0.3% from 0.2%.
The single currency fell by 0.02% vs. the Greenback, to settle at $1.1824. Data on Thursday showed that Private sector output in Germany expanded at the fastest pace in more than six-years in December. Today, European Central Bank President Mario Draghi will hold a news conference in Frankfurt.
The Sterling pound rose by 0.51% against the Greenback to settle at $151.76. the GBP rose after parliament passed an amendment to the EU Withdrawal Bill that gives legislators the power to force the government to choose between a “soft Brexit” and an indefinite suspension of Article 50.
Against the JPY, the USD rose as much as 0.27%, to settle at ¥112.84. No major reports are due from Japan today.
Gold prices touch one week high, as the Greenback was on the defensive after dropping in the previous session following the U.S. Federal Reserve's decision on interest rates. As widely expected, the Fed increased benchmark rates for the third time this year, but maintained its outlook of three rate increases in 2018 on low inflation concerns. Gold Futures - Feb 18 (GCG8) rose as much as 0.70%, to settle at $1,257.40.
Oil prices rose, backed by a fourth straight weekly decline in U.S. crude stockpiles, though climbing output capped prices well below the 2015 record levels reached earlier this week. Crude Oil WTI Futures - Jan 18 (CLF8) rose as much at 0.41% at $56.83 and Brent Oil Futures - Jan 18 (LCOF8) was up by 0.70% at $62.90.
The most important economic events:
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