All eyes on US Jobless Claims & Retail Sales - Market Overview by FXNET


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The dollar was weaker on Wednesday as there was no data to move the markets, but there will be some action on the U.S. economic calendar today, as initial jobless claims and retail sales are on deck.

EUR/USD ground its way through sellers into the 1.3800 level, with the eventual target over the figure being the 2013 high of 1.3832 and currently moving around 1.3799 (8:00 GMT).

USD/JPY found support near 102.20 for a while yesterday but the pairing bounced subsequently over 102.50 and now trading at 102.80 (8:00 GMT).

GBP/USD took a dive after trading at a two-year high against the dollar to 1.6340 lows yesterday before recovering back up to 1.6410 levels today (8:00 GMT).

Commodity News:

GOLD futures stepped down from a three-week high to finish at a lower level for the first time in three sessions as a U.S. budget deal helped move excitement away from the precious metal. Walter de Wet (Standard Bank) said that the budget deal eliminates “another hurdle to economic growth” and increases the chances of a stimulus taper this month.

SILVER (March) shed 6 cents, or 0.3%, to $20.30 an ounce.

CRUDE OlL for January delivery fell 9 cents, or 0.1%, to $97.35 a barrel in electronic trading.
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