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Forex Today: Dollar recovers post-Retail Sales

Here is what you need to know on Friday, January 17th:

  • The American currency remained weak, until the release of US Retail Sales. The headline reading matched the market’s expectations, but core readings were upbeat, triggering renewed dollar demand. The EUR/USD pair finished the day in the red around 1.1130.
  • UK PM Johnson’s spokesman confirmed that the Brexit transition period would not be extended further. German Chancellor Angela Merkel said that Brexit urges the block to respond by becoming more competitive. GBP/USD extended its advance toward 1.3100, settling at around 1.3070.
  • The USD/JPY pair recovered the 110.00 level with US Retail Sales but remained below its weekly high.
  • Gold edged lower, while crude oil prices posted modest gains, with commodities holding within familiar levels.
  • Wall Street added to its latest gains, major indexes once again hit record lows.
  • Crypto Today: Bitcoin bulls give up control for now

USD/INR: Likely to continue to trade between 70.6 and 72.0 – Danske Bank

Analysts at Danske Bank expect the USD/INR pair to remain around the 71 area over the next three months and then to move modestly higher. Key Quotes:
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WTI bears stall at the 200-DMA, taking on the $58.80s

US oil prices have been correcting to the upside following a strong rejection just below the $66 handle when prices peaked at $65.62 following the Ira
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