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Here is what you need to know on Wednesday, December 17:
The US Dollar Index (DXY) tumbled below 98.00 on Tuesday, reaching its lowest level since mid-October. The Greenback faced intense selling pressure following a delayed labor report that revealed a significant softening in the US job market, overshadowing weak economic activity data from Europe.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.01% | -0.36% | -0.32% | -0.20% | 0.05% | -0.03% | -0.18% | |
| EUR | 0.00% | -0.35% | -0.33% | -0.20% | 0.06% | -0.02% | -0.17% | |
| GBP | 0.36% | 0.35% | 0.02% | 0.15% | 0.42% | 0.33% | 0.18% | |
| JPY | 0.32% | 0.33% | -0.02% | 0.12% | 0.38% | 0.29% | 0.14% | |
| CAD | 0.20% | 0.20% | -0.15% | -0.12% | 0.26% | 0.19% | 0.03% | |
| AUD | -0.05% | -0.06% | -0.42% | -0.38% | -0.26% | -0.09% | -0.23% | |
| NZD | 0.03% | 0.02% | -0.33% | -0.29% | -0.19% | 0.09% | -0.15% | |
| CHF | 0.18% | 0.17% | -0.18% | -0.14% | -0.03% | 0.23% | 0.15% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
EUR/USD is hovering around the 1.1750 price region. Despite German manufacturing remaining in contraction (47.7), the pair rallied as the yield gap between the Federal Reserve (Fed) and the European Central Bank (ECB) narrowed.
GBP/USD is trading near the 1.3430 handle. Focus shifts to Wednesday, as the United Kingdom (UK) Consumer Price Index (CPI) will be released, with expectations of a 0% monthly and 3.5% annual reading for November. On Thursday, the Bank of England (BoE) will announce its monetary policy decision.
USD/JPY broke below the 155.00 mark, now trading near the 154.65 price region. Speculation is mounting that the Bank of Japan will hike rates to 0.75% on Friday, to defend the currency against persistent inflation.
AUD/USD: The Aussie is struggling to capitalize on the broad USD sell-off, trading near 0.6630 as disappointing data from its largest trading partner weighed on sentiment. China reported earlier this week that November Retail Sales fell sharply to 1.3% from the previous 2.9% and the expected 2.9%. Industrial Production for November also fell below expectations, down to 4.8% on an annualized basis from the expected 5% and slightly below the previous reading of 4.9%.
Gold fell near the $4270 price region earlier in Asian trading hours, then surged to trim part of its losses on Tuesday, as a "perfect storm" of cooling US labor data and rising inflation concerns reignited the bull run. The bright metal, however, remains stuck around $4,300.
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* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
