Forex Today: US Dollar rebounds as December gets underway with high-tier data releases
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Here is what you need to know on Monday, December 2:
The US Dollar (USD) gathers strength against its major rivals to begin the month of December. The US economic calendar will feature Construction Spending for October and ISM Manufacturing PMI data for November. During the European trading hours, Sentix Investors Confidence for December and the Unemployment Rate figure for October from the Euro area will be watched closely by market participants.
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 Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.47% | 0.28% | 0.41% | 0.24% | 0.08% | 0.25% | 0.40% | |
| EUR | -0.47% | -0.23% | -0.05% | -0.22% | -0.30% | -0.21% | -0.04% | |
| GBP | -0.28% | 0.23% | 0.17% | 0.01% | -0.06% | 0.02% | 0.16% | |
| JPY | -0.41% | 0.05% | -0.17% | -0.18% | -0.30% | -0.14% | -0.08% | |
| CAD | -0.24% | 0.22% | -0.01% | 0.18% | 0.00% | 0.02% | 0.14% | |
| AUD | -0.08% | 0.30% | 0.06% | 0.30% | 0.00% | 0.08% | 0.22% | |
| NZD | -0.25% | 0.21% | -0.02% | 0.14% | -0.02% | -0.08% | 0.16% | |
| CHF | -0.40% | 0.04% | -0.16% | 0.08% | -0.14% | -0.22% | -0.16% |
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).
Over the weekend, US President-elect Donald Trump wrote on Truth Social that BRICS nations would face 100% tariffs if there were to create a new currency to replace the USD. "There is no chance that the BRICS will replace the US Dollar in international trade, and any country that tries should wave goodbye to America," he said. After losing more than 1.5% in the previous week, the USD recovers early Monday and stays in positive territory above 106.00 in the European morning. Meanwhile, US stock index futures trade in negative territory, pointing to a cautious market mood at the start of the week.
During the Asian trading hours, the data from Australia showed that Retail Sales rose by 0.6% on a monthly basis in October. This reading followed the 0.1% increase recorded in September and came in better than the market expectation for a growth of 0.3%. AUD/USD largely ignored this data and was last seen moving sideways slightly above 0.6500.
EUR/USD closed the day in positive territory above 1.0500 on Friday and registered weekly gains. The pair corrects lower early Monday and fluctuates in the red below 1.0550.
After rising more than 1.5% last week, GBP/USD edges lower and trades at around 1.2700 in the European morning. The data from the UK showed that Nationwide Housing Prices rose 1.2% on a monthly basis in November.
Gold posted gains on Friday but failed to preserve its recovery momentum at the beginning of the week. At the time of press, XAU/USD was trading below $2,630, losing nearly 1% on the day.
USD/JPY extended its slide on Friday and lost more than 3% for the week. The pair rebounds toward 150.50 in the European morning, gaining nearly 0.5% on the day.
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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.
