Here is what you need to know on Monday, December 4:
Gold price hit a new record high near $2,150 at the weekly opening as markets reacted to escalating geopolitical tensions in the Middle East. October Factory Orders will be the only data featured in the US economic docket on Monday. Investors will continue to pay close attention to headlines surrounding the Israel-Hamas conflict and comments from central bankers.
Yemen's Houthi rebels hit three commercial ships in the Red Sea on Sunday and a US warship responded by shooting down three drones. In a statement released after the event, the US military's Central Command said that they have "every reason to believe that these attacks, while launched by the Houthis in Yemen, are fully enabled by Iran." Meanwhile, Yemen's Houthi movement acknowledged that they had targeted two Israeli ships in this attack, saying that they were responding to calls from Islamic nations to stand with the Palestinian people.
Reflecting the risk-averse market atmosphere, US stock index futures trade in negative territory in the early European session. The US Dollar (USD) Index, which registered small losses in the previous week, found support slightly above 103.00.
US Dollar price today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.16% | 0.29% | 0.25% | 0.45% | 0.23% | 0.52% | 0.34% | |
| EUR | -0.17% | 0.13% | 0.11% | 0.33% | 0.05% | 0.37% | 0.20% | |
| GBP | -0.31% | -0.15% | -0.04% | 0.16% | -0.06% | 0.23% | 0.05% | |
| CAD | -0.28% | -0.12% | 0.02% | 0.18% | -0.07% | 0.26% | 0.07% | |
| AUD | -0.45% | -0.33% | -0.19% | -0.22% | -0.28% | 0.04% | -0.13% | |
| JPY | -0.24% | -0.05% | 0.24% | 0.07% | 0.28% | 0.33% | 0.13% | |
| NZD | -0.52% | -0.38% | -0.23% | -0.27% | -0.07% | -0.30% | -0.18% | |
| CHF | -0.38% | -0.20% | -0.07% | -0.11% | 0.09% | -0.13% | 0.16% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
After setting a new all-time high, Gold retreated in the Asian trading hours. At the time of press, XAU/USD was still up 0.5% on the day at $2,080.
Following a drop to a fresh two-week low of 1.0828 on Friday, EUR/USD managed to recover toward 1.0900 ahead of the weekend. Early Monday, the pair fluctuates in a tight channel above 1.0850. European Central Bank (ECB) President Christine Lagarde and several other ECB policymakers are scheduled to speak later in the day.
GBP/USD closed the third consecutive week in positive territory before going into a consolidation phase below 1.2700 early Monday.
USD/JPY fell to a multi-month low below 146.30 in the Asian trading hours on Monday but rebounded above 146.50 in the early European session. Tokyo Consumer Price Index (CPI) data from Japan will be released on Tuesday.
USD/CAD fell below 1.3500 for the first time in two months on Friday after Statistics Canada reported that Net Change in Employment was +24.9K in November, higher than the market expectation of 15K. Falling crude oil prices made it difficult for the Canadian Dollar to preserve its strength and USD/CAD advanced above 1.3500 to start the week.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD challenges 1.0500 on Dollar's bounce
The US Dollar now picks up further pace and weighs on the risk-associated assets, sending EUR/USD to the boundaries of the key 1.0500 region and at shouting distance from its 2024 lows.
GBP/USD remains weak and puts 1.2600 to the test
GBP/USD remains on the back foot and now approaches the key support at 1.2600 the figure in response to the resurgence of the bid bias in the Greenback.
Gold faces extra upside near term
Gold extends its bullish momentum further above $2,660 on Thursday. XAU/USD rises for the fourth straight day, sponsored by geopolitical risks stemming from the worsening Russia-Ukraine war. Markets await comments from Fed policymakers.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
A new horizon: The economic outlook in a new leadership and policy era
The economic aftershocks of the COVID pandemic, which have dominated the economic landscape over the past few years, are steadily dissipating. These pandemic-induced economic effects are set to be largely supplanted by economic policy changes that are on the horizon in the United States.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.