Here is what you need to know on Friday, November 17:
Financial markets stay relatively quiet for the third straight day on Friday in the absence of fundamental drivers. Eurostat will release revisions to October Harmonized Index of Consumer Prices (HICP) data and the US economic docket will feature Housing Starts and Building Permits.
Uninspiring data releases from the US on Thursday made it difficult for the US Dollar (USD) to build on Wednesday's recovery gains. The US Department of Labor reported that the number of Initial Jobless Claims increased by 13,000 to 231,000 in the week ending November 11 and the Federal Reserve's monthly publication revealed that Industrial Production contracted by 0.6% in October following September's 0.1% growth. In the meantime, Wall Street's main indexes closed the day virtually unchanged, while the benchmark 10-year US Treasury bond yield turned south and dropped toward 4.4%.
US Dollar price this week
The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the weakest against the Australian Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -1.44% | -1.28% | -0.36% | -1.77% | -1.08% | -1.27% | -1.53% | |
| EUR | 1.42% | 0.16% | 1.06% | -0.32% | 0.36% | 0.16% | -0.06% | |
| GBP | 1.26% | -0.15% | 0.90% | -0.47% | 0.22% | 0.03% | -0.25% | |
| CAD | 0.36% | -1.08% | -0.91% | -1.40% | -0.72% | -0.90% | -1.15% | |
| AUD | 1.74% | 0.31% | 0.47% | 1.37% | 0.68% | 0.50% | 0.22% | |
| JPY | 1.07% | -0.39% | -0.22% | 0.70% | -0.70% | -0.17% | -0.46% | |
| NZD | 1.26% | -0.19% | -0.03% | 0.87% | -0.50% | 0.19% | -0.28% | |
| CHF | 1.49% | 0.08% | 0.24% | 1.15% | -0.23% | 0.46% | 0.28% |
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).
EUR/USD closed the day flat on Thursday and went into a consolidation phase at around 1.0850 on Friday.
GBP/USD fluctuated in a very tight range near 1.2400 on Thursday. Early Friday, the pair started to edge lower and was last seen losing 0.23% on the day at 1.2385.
USD/JPY turned south on Thursday and closed below 151.00. The pair continued to push lower during the Asian trading hours and came within a touching distance of 150.00. Earlier in the day, Bank of Japan (BoJ) Governor Kazuo Ueda said that the central bank does not have any specific plan yet on how it will sell ETFs and that a weaker Japanese Yen (JPY) pushes up domestic inflation via a rise in import costs. "I cannot say decisively that a weak JPY is negative for Japan's economy," Ueda added.
Gold benefited from retreating US Treasury bond yields on Thursday and climbed above $1,980. XAU/USD preserves its bullish momentum early Friday and advances toward $1,990.
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 extends recovery beyond 1.0400 amid Wall Street's turnaround
EUR/USD extends its recovery beyond 1.0400, helped by the better performance of Wall Street and softer-than-anticipated United States PCE inflation. Profit-taking ahead of the winter holidays also takes its toll.
GBP/USD nears 1.2600 on renewed USD weakness
GBP/USD extends its rebound from multi-month lows and approaches 1.2600. The US Dollar stays on the back foot after softer-than-expected PCE inflation data, helping the pair edge higher. Nevertheless, GBP/USD remains on track to end the week in negative territory.
Gold rises above $2,620 as US yields edge lower
Gold extends its daily rebound and trades above $2,620 on Friday. The benchmark 10-year US Treasury bond yield declines toward 4.5% following the PCE inflation data for November, helping XAU/USD stretch higher in the American session.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
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.