The U.S. dollar beats all challengers this week as Middle East tensions declined and U.S. business sentiment improves.
Overlay of USD Pairs: 1-Hour Forex Chart
USD Weekly Performance from MarketMilk
United States Headlines and Economic data
Monday:
- Fed’s Williams says it is important to keep 2% inflation target amid low rates: WSJ
- U.S. Business activity growth accelerates to five month high in December
Tuesday:
- U.S. trade deficit drops to more than three-year low
- December’s ISM non-manufacturing index signals better-than-expected expansion
- U.S. factory orders tumble in November
Wednesday:
- ADP National Employment Report: Private Sector Employment Increased by 202,000 Jobs in December
- U.S., Iran both appear to signal desire to avoid further conflict
- Trump: U.S. “will immediately impose additional punishing economic sanctions on the Iranian regime”
- Iran fires missiles at U.S. bases in Iraq
- U.S. consumer credit growth cools off in November
- Risks of an all-out U.S.-Iran military conflict started fade at this point, which seems to have been the turning point for the U.S. dollar towards positive, despite a string of weak-than-expected U.S. data ahead.
Thursday:
- U.S. Democrats schedule vote on legislation to prevent Trump from declaring war
- U.S. weekly jobless claims fall, but labor market momentum waning
- Fed’s Clarida says rate cuts were ‘well timed,’ policy likely to remain appropriate
Friday:
- Trump says China trade deal may be signed shortly after January 15
- Job market ends 2019 with disappointing 145,000 growth in payrolls – this was obviously a big downer for the Greenback, but it was not enough to break positive gains for the weak against the rest of the major currencies.
