The U.S. dollar stayed little changed on Friday following the release of strong economic data earlier this week. Data showed this week that the U.S. economy grew at a 2.1% annualized rate, compared to 1.9% in the first reading. The data contrasted with other indicators showing a slowdown in global activity.
Sino-U.S. trade progress remained in focus after U.S. President Donald Trump approved two bills that backs Hong Kong’s anti-government protestors. While China has vowed to retaliate, it has not taken any action so far and it is unclear if that would have any bearing on trade talks.
The GBP/USD pair was near flat at 1.2915 as U.K. Prime Minister Boris Johnson’s Conservative Party has firmed in opinion polls ahead of the Dec. 12 election. The EUR/USD pair inched up 0.1% to 1.1011, while the USD/JPY pair slipped 0.1% at 109.45 as falling Chinese and Hong Kong stocks sent the safe-haven yen slightly higher.
A relatively busy Friday’s EUR calendar lies ahead, starting with the Employment data due out of Germany at 08:55 GMT, following with a slew of minority reports will be published from the UK at 09:30 GMT. The key event of note in Europe remains the Eurozone Preliminary Consumer Price Index (CPI) and Jobless Rate data, dropping in at 10:00 GMT.
The NA session remains subdued amid Black Friday, as US traders will be operating half time. Markets also await fresh developments on the US-China trade front, as Hong Kong is likely to see large-scale protest rallies, this time on social media, this weekend.
Oil prices slipped on Friday but are set for a weekly gain ahead of a key OPEC+ meeting next week. Trading volume was reduced due to the U.S. Thanksgiving Holiday. Gold prices on the other hand traded higher on Friday as stocks were weighed down by concerns over Hong Kong.
U.S. Dollar Stays Little Changed – Eurozone CPI in Focus
Published on 2019-11-29 09:15
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