Forex - U.S. Dollar Slips On Impeachment News; AUD Climbs on Jobs Data
Investing.com
Published Dec 18, 2019 11:17PM ET
Updated Dec 18, 2019 11:28PM ET
Investing.com - The U.S. dollar slipped on Thursday in Asia after U.S. House of Representatives voted to impeach Republican U.S. President Donald Trump for abuse of power and obstruction of Congress.
Trump is the third president to be impeached in U.S. history but is likely to survive a trial in the GOP-led Senate, which is expected to vote in January.
The U.S. dollar index slipped 0.1% to 96.925 by 11:30 PM ET (03:30 GMT).
On the data front, the National Association of Realtors will report on existing home sales for November tomorrow.
Sales of existing homes are expected to have dropped 0.2% last month to an annual rate of 5.44 million, according to forecasts compiled by Investing.com.
Initial jobless claims is also due. Economists are looking for a drop in claims for first-time unemployment benefits to 225,000.
Meanwhile, the Philadelphia Federal Reserve will release its manufacturing index for December on the same day. Economists expect the Philly Fed Index to come in at 8 for the month from 10.4 in November. The index tracks manufacturing in Pennsylvania, New Jersey and Delaware.
The USD/JPY pair gained 0.1% to 109.57 after the Bank of Japan kept its policy unchanged on Thursday morning. The central bank maintained its forward guidance, saying it expected rates to remain low or lower as long as there was a chance of losing price momentum. The decision was largely in line with expectation.
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The Australian dollar climbed 0.3% against the U.S. dollar to reach 0.6875 after data showed the country’s unemployment unexpectedly in November declined. Employment jumped 39,900 last month, compared with economists’ estimates of a 15,000 gain, data from the Australian Bureau of Statistics showed Thursday.
The NZD/USD pair also gained 0.1% to 0.6591 after the country's third quarter economic growth came in stronger than expected.
The GBP/USD pair recovered and inched up 0.1% to 1.3082 after falling this week amid renewed concern of a possible no-deal Brexit.
Written By: Investing.com
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