The US Dollar index continues to pullback from Thursday’s 14-year highs in what seems to be a pause for profit-taking. Currently the US dollar index is at 102.66 after Thursday’s highs of 103.56.
EURUSD is currently at 1.0461 after hitting lows of 1.0366 last Thursday. Even gold staged a similar price correction after hitting lows of $1122.64 on Thursday we are currentlt at the price of $1139.52.
Today in the US we are also expecting the electoral college vote and will likely get some attention as we await to see whether they will also endorse Trump as President.
As we quickly approach the Christmas holidays it is likely that the current pullbacks, that we have attributed to profit-taking, may also have been the result of the start of the break for the festive season.
Later today on today’s economic docket we have German IFO, EZ construction and US Services PMI amongst the highlights for today’s events.
