Dollar is steady in anticipation of US stats

11.12.2015

On Friday, the dollar was little changed against major currencies, as investors awaited the publication of US macroeconomic data later, amid growing speculation about whether the Federal Reserve will raise interest rates the next week.

USD/JPY pair rose 0.17% to 121.78.

Demand for the dollar is still supported by expectations that Fed is close to the decision to raise interest rates for the first time since 2006 at its forthcoming meeting on 15-16 December.

Rising interest rates make the US currency more attractive for investors looking for profit.

Market participants expect the publication of reports on US retail sales and consumer sentiment as well as the producer price index for signs of US economic recovery.

EUR/USD has remained at the level 1.0944.

The euro received moderate support after the latest measures of monetary policy, announced by the European Central Bank, disappointed the markets.

The dollar rose against the pound and the Swiss franc: GBP/USD pair dropped 0.12% to 1.5141 and USD/CHF rose 0.17% to 0.9893.

The Australian and New Zealand dollars fell: AUD/USD dropped 0.77% to 0.7224 and NZD/USD fell 0.26% to 0.6740.

Meanwhile, the USD/CAD pair rose 0.31% to a fresh 11.5-year high at 1.3667.

The commodity related Canadian dollar remained under selling pressure due to the ongoing collapse in oil prices. During European morning trade, crude oil futures for January delivery fell 0.92% to a seven-year low of $ 36.44 for a barrel.

The USD index, which shows the relationship of the US dollar against a basket of major currencies, was kept unchanged at 97.97.

Thursday the first time four sessions the US stock indicators closed with growth amid data on growing number of applications for unemployment benefits in the US, however, it turned out to be a moderate increase due to the ongoing decline in oil prices, writes MarketWatch.

The index of Dow Jones Industrial Average rose to 82.45 points (0.47%) to 17574.75 points. Standard & Poor's 500 rose 4.61 points (0.23%) to 2052.23 points. The value of Nasdaq Composite rose 22.31 points (0.44%) to 5045.17 points.

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