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Dollar Steady Ahead of U.S. Data Due Later in the Day

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The greenback held steady against other major currencies on Friday, ahead of U.S. consumer sentiment data releases later in the day. The euro rebounded from sharp losses on Thursday before slumping again on Friday. The short-lived rebound came after an announcement that the ECB will extend its asset purchase program for an additional nine months.

The ECB said net asset purchases will continue at a €60 billion monthly rate until December 2017. The central bank kept the benchmark interest rate unchanged.

EUR/USD is down 0.42% to 1.0569.

The dollar gained support on Thursday after the U.S. Labor Department reported that initial jobless claims fell to 258,000, down 10,000 for the week ending December 2. Sentiment for the greenback remains volatile ahead of an expected rate hike at next week’s policy meeting.

GBP/USD gained 0.02% on Friday, trading at 1.2582. Positive data out of the U.K. indicate the trade deficit narrowing to £9.71 billion in October, down from £13.83 billion in September. The trade deficit narrowing beat analyst expectations of an £11.80 billion deficit in October.

China announced earlier in the day that the country will launch direct trading between the yuan and seven foreign currencies. Trading among the currencies will begin on December 12 and includes the Norwegian krone, Turkish lira and Mexican peso.

The AUD/USD gained 0.13% to trade at 0.7473, erasing a poor performance earlier in the day.

China’s consumer prices inched up 0.1% in November, marking a 2.3% consumer price increase year-on-year. Produce prices rose at a rate of 3.3%, up 1.1% year-on-year. The data weakened the Aussie in early morning trade.

Australian home loan data for October was down 0.8%.

NZD/USD is down 0l.18%, trading at 0.7162. USD/CAD is down 0.17% to trade at 1.3170. USD/JPY is notably stronger, up 0.78% to 114.91. The US Dollar Index is up 0.34% to 101.45. The index reached a four-day high overnight.

 

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Jacob Maslow
Online Marketing Consultant at Consultwebs
 Jacob Maslow offers clients effective digital marketing insights that enhance website visibility and improve SEO as an online marketing consultant at Consultwebs. His approach marries creativity to numbers to show significant ROI for marketing efforts. This Brooklyn native has spent years helping skilled professionals, including medical and legal professionals rank for relevant search terms.
Clients attain their marketing objectives with Maslow. He has helped boutique law practices in crowded markets rank No. 1 in Google ranking. His efforts doubled the revenue for Allergy Be Gone's non-Amazon sales to $4 million annually. SEO ranking and revenue growth are prioritized when Maslow consults with prospects and long-term clients. Maslow has over a decade of experience implementing SEO practices and running successful marketing campaigns.
In addition to working with clients in various fields, but often with those in legal, financial and medical areas, he is an author, offering his expertise to those seeking to improve their engagement with online audiences. Read what Maslow has to share with eager audiences on business.com and business2community.com, including recent articles: "4 Mistakes You Can Correct Today to Be a Social Media Superstar" and "6 Things SEO Can't Do for Your Business."
Maslow puts his connections to work for clients. He founded many news sites including: Forex Binary News; eThailand; Key Investing; Rapid News Network and StreetWise Journal. Jacob Maslow stays busy as owner of Legal Scoops, Daily Forex Report, Investing Alerts and bestportablechargerz. Feel free to seek his advice on Facebook, Quora and Slideshare or contact Jacob Maslow directly.
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 Jacob Maslow offers clients effective digital marketing insights that enhance website visibility and improve SEO as an online marketing consultant at Consultwebs. His approach marries creativity to numbers to show significant ROI for marketing efforts. This Brooklyn native has spent years helping skilled professionals, including medical and legal professionals rank for relevant search terms. Clients attain their marketing objectives with Maslow. He has helped boutique law practices in crowded markets rank No. 1 in Google ranking. His efforts doubled the revenue for Allergy Be Gone's non-Amazon sales to $4 million annually. SEO ranking and revenue growth are prioritized when Maslow consults with prospects and long-term clients. Maslow has over a decade of experience implementing SEO practices and running successful marketing campaigns. In addition to working with clients in various fields, but often with those in legal, financial and medical areas, he is an author, offering his expertise to those seeking to improve their engagement with online audiences. Read what Maslow has to share with eager audiences on business.com and business2community.com, including recent articles: "4 Mistakes You Can Correct Today to Be a Social Media Superstar" and "6 Things SEO Can't Do for Your Business." Maslow puts his connections to work for clients. He founded many news sites including: Forex Binary News; eThailand; Key Investing; Rapid News Network and StreetWise Journal. Jacob Maslow stays busy as owner of Legal Scoops, Daily Forex Report, Investing Alerts and bestportablechargerz. Feel free to seek his advice on Facebook, Quora and Slideshare or contact Jacob Maslow directly.

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