EUR/USD drops from four-week high
EUR/USD tilted lower in Asian trade away from January 11 highs for the second session out of three, ahead of data from the euro zone and the US today.
As of 04:58 GMT, EUR/USD shed 0.11% to 1.1443, with an intraday low at 1.1422, and a high at 1.1466.
Now markets await Spanish data, with the unemployment change expected with an increase of 60.3 thousand in January, compared to a 50.6K drop in December, while an index tracking consumer sentiment in the whole zone is estimated up to minus 1.1 from minus 1.5 in January.
The euro zone's producer prices are estimated with a 0.7% drop, sharpening a 0.3% decline in November, while Italian consumer prices are estimated to be up 0.1%, compared to a 0.1% increase in December.
US Data
Now investors await US factory orders data, expected with a 0.3% increase in November, compared to a 2.1% drop in October.
Labor data released last Friday showed the economy added an excellent 304 thousand new jobs in January, besting estimates of 165K, and up from a revised 222K in December.
US average hourly earnings rose 0.1% in January, missing estimates of a 0.3% increase, and down from 0.4% in December, while unemployment rose to 4.0% in January from 3.9%, missing estimates of also 3.9%.
The Federal Open Market Committee voted at the January 29-30 meeting to hold overnight interest rates below 2.5%, while changing the wording for future policies to "patience" as the FOMC monitors economic and trade developments.
Oil settles lower as dollar climbs off four-week trough
Oil futures tilted lower in Asian trade as the dollar index climbed off January 10 lows for the third session, ahead of factory data later today from the US, the world's largest oil consumer and producer.
As of 04:14 GMT, US crude futures due in March dipped 0.31% to $55.20 a barrel, while Brent March 15 futures inched down 0.05% to $62.67 a barrel, as the dollar index added 0.06% to 95.67 against a basket of major rivals.
US Data
Now investors await US factory orders data, expected with a 0.3% increase in November, compared to a 2.1% drop in October.
Labor data released last Friday showed the economy added an excellent 304 thousand new jobs in January, besting estimates of 165K, and up from a revised 222K in December.
US average hourly earnings rose 0.1% in January, missing estimates of a 0.3% increase, and down from 0.4% in December, while unemployment rose to 4.0% in January from 3.9%, missing estimates of also 3.9%.
US Oil Rigs, Output
Baker Hughes, a US oil services company, reported a drop of 15 rigs in the oil rig count to a total of 847, after data showed US production steadied at record highs at 11.9 million bpd.
Last month, the Energy Information Administration forecast an increase in shale oil output to another record 8.179 million bpd, however the drop in rig activities might taper these expectations.
Gold backs off ten-month high as dollar inches up
Gold futures fell in Asian trade off April 25 highs as the dollar index climbed off January 10 lows for the third session, ahead of US factory data later today.
As of 03:58 GMT, gold futures due in April slipped 0.29% to $1,318.20 an ounce away from ten-month highs, while the dollar index added 0.05% to 95.66 away from four-week lows.
US Data
Now investors await US factory orders data, expected with a 0.3% increase in November, compared to a 2.1% drop in October.
Labor data released last Friday showed the economy added an excellent 304 thousand new jobs in January, besting estimates of 165K, and up from a revised 222K in December.
US average hourly earnings rose 0.1% in January, missing estimates of a 0.3% increase, and down from 0.4% in December, while unemployment rose to 4.0% in January from 3.9%, missing estimates of also 3.9%.
The Federal Open Market Committee voted at the January 29-30 meeting to hold overnight interest rates below 2.5%, while changing the wording for future policies to "patience" as the FOMC monitors economic and trade developments.
Global Gold Council
Global Gold Council's recent data showed purchases by global central banks rose to 1967 highs last year at 651.5 tonnes, up 74% from 2017 levels, with highest bidders being China, Poland, and Russia.
The council estimated global consumption of gold rose to 4,345.1 tonnes last year from 4,159.9 tonnes, while jewels demand steadied at 2,200 tonnes.
Demand from financial institutions on the other hand tumbled 67% from 2017 levels.
Aussie declines versus greenback as the week opens up
Australian dollar tilted lower in Asian trade off December 5 highs for the third straight session against its US counterpart, following earlier data from Australia and ahead of US factory data.
As of 02:36 GMT, AUD/USD shed 0.11% to 0.7242, with an intraday low at 0.7229, and a high at 0.7254.
Earlier Australian data showed an index tracking inflation down 0.1%, compared to a 0.1% increase in the previous month, while an index tracking job advertisements fell 1.7%, sharpening a 0.7% drop in December.
Building permits fell 8.4% in December, compared to a 9.8% m/m drop in November, while analysts expected a 2.1% increase.
Now investors await the Reserve Bank of Australia's policy decisions tomorrow Tuesday, with analysts expecting no change at 1.5% for the 27th meeting in a row.
US Data
Now investors await US factory orders data, expected with a 0.3% increase in November, compared to a 2.1% drop in October.
Labor data released last Friday showed the economy added an excellent 304 thousand new jobs in January, besting estimates of 165K, and up from a revised 222K in December.
US average hourly earnings rose 0.1% in January, missing estimates of a 0.3% increase, and down from 0.4% in December, while unemployment rose to 4.0% in January from 3.9%, missing estimates of also 3.9%.
The Federal Open Market Committee voted at the January 29-30 meeting to hold overnight interest rates below 2.5%, while changing the wording for future policies to "patience" as the FOMC monitors economic and trade developments.