As this week comes to an end and Christmas holidays are on the doors, while mixed and choppy trading continued to be seen in the market, as investors tend to close their positions ahead of the coming year, which is expected to bring more volatility and uncertainty.
The U.S. dollar recovered some of the losses incurred earlier today after the downbeat U.S. income report and durable goods orders, where the personal spending in the Untied States remained unchanged in November at 0.1% below median estimates of 0.3%, while the personal income expanded by 0.1% from the previous expansion of 0.4%, below expectations of 0.2%, which added concerns to the market especially after the U.S. Gross domestic product figures was revised lower yesterday to 1.8% from 2.0% in the third quarter.
The U.S. dollar index (USDIX) started the day at 79.94 and set the highest at $79.95 and the lowest at 79.72, and is currently trading around 79.95.
The U.S. dollar benefited from fears and concerns in the market, where the incline seen earlier today in major currencies was not driven by optimism or relief, yet it was volatility which dominated the market since the start of this week.
The EUR/USD opened the session today at $1.3047, and recorded the highest at $1.3095 and the lowest at $1.3042 and is currently trading around $1.3043.
Moreover, the Canadian dollar fluctuated heavily against the U.S. dollar after the gross domestic product figures, which showed that growth faltered in October from the previous expansion of 0.2%.
The USD/CAD pair opened the session today at 1.0199 and recorded the highest at 1.0213 and the lowest at 1.0180, and is currently hovering around 1.0194.