Home > News Updates > Financial News > ICBC Global Market
ICBC Global Market: FX Market Update - March 17, 2017
 

U.S. housing start jumped in February, and the number of Americans filing for unemployment benefits dropped last week, suggesting resilient economic growth and reinforced economic fundamentals. But a more gradual pace of monetary tightening by the Federal Reserve continued to keep the dollar under pressure. The dollar index against a basket of six major currencies fell 0.38 percent to 100.36 on Thursday. The euro rallied 0.30 percent at $1.0764 against the greenback. Against the yen, the dollar was down 0.04 percent at 113.30. The euro is expected to meet resistance and support against the dollar at $1.0828 and $1.0606 respectively, while the dollar is expected to meet resistance and support against the yen at 114.88 and 112.02 respectively.

Disclaimer: This research report is prepared by the Industrial and Commercial Bank of China Limited ("ICBC") based on public information. Facts and views expressed in the report do not reflect the official opinion of ICBC. ICBC makes every effort to use reliable information, but makes no representation that the information is accurate or complete. ICBC bears no responsibility or liability for any direct or indirect loss arising out of (or claimed to be arising out of) using or reliance upon such information. ICBC owns the copyright of this report. This report may not be reproduced, copied, published, distributed or quoted in any way without the express written consent of ICBC. ICBC reserves the right to investigate and prosecute violations of copyright infringement to the fullest extent of the law.


(2017-03-17)
Close