The dollar is trading modestly higher in comparison to its major rivals Friday afternoon. There were no U.S. economic reports this morning, due to today’s holiday shortened trading session.
A number of key economic reports are scheduled to be released next week. The focal point of investors is likely to be on the monthly jobs report, due next Friday.
Ahead of the jobs report, traders will also be presented with reports on manufacturing and service sector activity, pending home sales, and private sector employment.
Federal Reserve Chair Janet Yellen is also scheduled to deliver two speeches next week, joining several other Fed officials that are due to give remarks.
The European Central Bank is also scheduled to hold its monetary policy meeting next Thursday, with many expecting the bank to announce further stimulus.
The dollar climbed to an early high of $1.0568 against the Euro Friday, but has since eased back to around $1.06.
Eurozone economic confidence remained unchanged in November at the highest level seen since mid-2011, results of a closely watched survey revealed Friday.
The economic confidence index came in at 106.1, unchanged from October, the monthly survey from the European Commission showed. This was the highest score since May 2011, when the reading was 106.6.
Initially, the sentiment reading for October was estimated at 105.9. Economists had forecast it to remain stable at 105.9 in November.
German consumer confidence is set to ease for a fourth straight month in December, as the high influx of migrants raise fears of unemployment and thus hurt economic and income expectations in the biggest euro area economy.
The forward-looking consumer confidence index dropped to 9.3 from 9.4 in November, results of a monthly survey by GfK showed Friday. Economists had expected a score of 9.2.
Germany’s import prices declined at the fastest pace seen so far this year in October, figures from Destatis showed Friday.
Import prices fell 4.1 percent year-on-year in October, bigger than September’s 4 percent decrease and a 3.9 percent drop forecast by economists. This was the biggest fall since January, when it plunged 4.4 percent.
French producer prices continued to decline in October, largely due to cheaper prices of coke and refined petroleum products, figures from the statistical office INSEE showed Friday. Producer prices in the French market dropped 2.5 percent year-over-year in October, following a 2.6 percent decrease in the previous month.
French household consumption declined for the first time in seven months in October, the statistical office Insee showed Friday. Household consumption decreased 0.7 percent on a monthly basis in October, in contrast to a 0.1 percent rise seen in September. This was the first fall since March when it fall similarly by 0.7 percent. Economists had forecast it to drop marginally by 0.1 percent in October.
The buck has risen to around $1.5035 against the pound sterling Friday, from around $1.5090 this morning.
The U.K. economic growth slowed as estimated in the third quarter, second estimates published by the Office for National Statistics showed Friday.
Gross domestic product climbed 0.5 percent from prior quarter, unrevised from the prior estimate released on October 27. This was the eleventh consecutive quarters of positive growth. In the second quarter, the economy had expanded 0.7 percent.
U.K. consumer confidence weakened to a six-month low in November, survey conducted by GfK on behalf of the EU showed Friday. The consumer sentiment index fell to 1 from 2 points in October. A similar low reading was last seen in May. The reading was expected to remain stable in November.
U.K. house price growth softened in November, data published by the Nationwide Building Society showed Friday. House prices advanced at a pace of 3.7 percent year-on-year in November, following October’s 3.9 percent increase. It was the weakest increase since August when prices climbed 3.2 percent.
The greenback dipped to an early low of Y122.300 against the Japanese Yen Friday, but has since bounced back to around Y122.820.
Japan’s consumer prices increased as expected in October, the Ministry of Internal Affairs and Communications said on Friday. The overall consumer price index climbed 0.3 percent year-over-year in October, in line with expectations.
The material has been provided by InstaForex Company – www.instaforex.com