Japan's Core Consumer Prices Rise for the 11th Straight Month In November

On Tuesday, Greenback held steady in Tuesday's holiday-thinned trade, disregarding upbeat Japanese economic data as traders thought about next year's potential opportunities.

  • The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down by 0.2% at 93.253 pips.

The Single currency fell by 0.11% vs. the USD, to settle at $1.1860. There is no specific direction for the FX-markets as major markets are closed.

The Sterling pound edged down by 0.03%, to settle at $1.3366 vs. the Greenback. No major reports are due from the UK today.

The market shrugged off data showing that Japan's core consumer prices rose for the 11 consecutive month, up 0.9% year-on-year, and household spending jumped in November, offering the BOJ some hope a steady economic recovery will gradually drive up inflation to its 2 percent target. Against the JPY, the Greenback rose as much as 0.04%, to settle at ¥113.30.

Earlier today, Gold prices settled high, touching a more than three-week high, in low-volume trade amid a weaker USD. Gold Futures - Feb 18 (GCG8), rose as much as 0.28%, to settle at $ 1,282.40.

Oil prices fell slightly, with Brent crude lingering near two-year highs thanks to high demand amid ongoing production cuts led by Russia and OPEC. Crude Oil WTI Futures - Jan 18 (CLF8) fell as much at 0.10% at $ 58.41 and Brent Oil Futures - Jan 18 (LCOF8) was down by 0.14% at $64.64.

The most important economic events:

  • USD S&P/Case-Shiller US Home Price Index (YoY) (OCT): (GMT 14:00) – Medium – Forecast (N/A) – Previous (6.15%).

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