FOREX TradingCharts.com

Forex News: Dollar Rises On U.S. Tax Reform Hopes

Dollar Rises On U.S. Tax Reform Hopes

12/07/2017 - 09:39:00 (RTTNews)

(RTTNews) - The U.S. dollar climbed against its major counterparts in the European session on Thursday, amid optimism over progress by Congress on tax legislation and easing fears over a government shutdown.

The House of Representatives advanced a bill to approve temporary spending late Wednesday in order to avert a government shutdown on Friday.

The chamber is set to vote on a two-week extension for spending measure later in the day, followed by a Senate vote on Friday.

The Senate voted 51-47 to form a Conference Committee on Wednesday to reconcile differences with the House on tax reform bill. If both the chambers agree on a joint tax bill, it should be passed by them to get it passed by Trump.

Data from the Labor Department showed that first-time claims for U.S. unemployment benefits dropped modestly in the week ended December 2.

The report said initial jobless claims edged down to 236,000, a decrease of 2,000 from the previous week's unrevised level of 238,000. The drop surprised economists, who had expected jobless claims to inch up to 240,000.

The currency has been trading in a positive territory in the Asian session.

The greenback rose to a new 2-week high of 1.1776 against the euro and held steady thereafter. The pair finished Wednesday's trading at 1.1796.

The greenback advanced to a 2-day high of 112.80 against the yen and more than a 2-week high of 0.9941 against the franc, from its early lows of 112.22 and 0.9874, respectively. If the greenback rises further, 114.00 and 1.02 are likely seen as its next resistance levels against the yen and the franc, respectively.

The greenback climbed to a 9-day high of 1.3320 against the pound, from an early low of 1.3421, and held steady thereafter. The pair was valued at 1.3390 when it closed deals on Wednesday.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Rising Ahead Of FOMC Decision (01 hr(s), 59 min(s), 58 sec(s) ago)
(RTTNews) - The dollar is up against its major European rivals Tuesday afternoon, but has given ba ...Full Story»

Dollar Advances As Producer Prices Beat Forecasts; FOMC Decision In Focus (07 hr(s), 17 min(s), 57 sec(s) ago)
(RTTNews) - The U.S. dollar strengthened against its most major opponents in the European session ...Full Story»

Dollar Rises Further Vs Most Majors After U.S. PPI (08 hr(s), 14 min(s), 58 sec(s) ago)
(RTTNews) - Following the release of U.S. producer price index for November at 8:30 am ET Tuesday, ...Full Story»

Dollar Rises Vs Most Majors Ahead Of U.S. PPI (08 hr(s), 26 min(s), 58 sec(s) ago)
(RTTNews) - The Labor Department will publish producer price index or PPI for November at 8:30 am ...Full Story»

Pound Falls Despite Upbeat U.K. Inflation Data (10 hr(s), 38 min(s), 58 sec(s) ago)
(RTTNews) - The pound dropped against its major rivals in the European session on Tuesday, even as ...Full Story»

Euro Little Changed After German ZEW Economic Sentiment Index (11 hr(s), 47 min(s), 58 sec(s) ago)
(RTTNews) - After the release of Germany's ZEW economic confidence index for December at 5:00 ...Full Story»

Euro Mixed Ahead Of German ZEW Economic Sentiment Index (11 hr(s), 56 min(s), 58 sec(s) ago)
(RTTNews) - At 5.00 am ET Tuesday, Germany's ZEW economic confidence survey results are due. T ...Full Story»

Pound Recovers After U.K. CPI, PPI (12 hr(s), 17 min(s), 57 sec(s) ago)
(RTTNews) - Following the release of UK consumer and producer prices for November at 4.30 am ET Tu ...Full Story»

Search

FOREX NEWS

Dollar Rising Ahead Of FOMC Decision

12/12/2017 - 14:53 PM (RTTNews)
(RTTNews) - The dollar is up against its major European rivals Tuesday afternoon, but has given ba ...Full Story>>

Dollar Advances As Producer Prices Beat Forecasts; FOMC Decision In Focus

12/12/2017 - 09:35 AM (RTTNews)
(RTTNews) - The U.S. dollar strengthened against its most major opponents in the European session ...Full Story>>

Dollar Rises Further Vs Most Majors After U.S. PPI

12/12/2017 - 08:37 AM (RTTNews)
(RTTNews) - Following the release of U.S. producer price index for November at 8:30 am ET Tuesday, ...Full Story>>

Dollar Rises Vs Most Majors Ahead Of U.S. PPI

12/12/2017 - 08:26 AM (RTTNews)
(RTTNews) - The Labor Department will publish producer price index or PPI for November at 8:30 am ...Full Story>>

Pound Falls Despite Upbeat U.K. Inflation Data

12/12/2017 - 06:12 AM (RTTNews)
(RTTNews) - The pound dropped against its major rivals in the European session on Tuesday, even as ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.