US Dollar Fell After Mixed Economic Data

Market Reviews

The US dollar weakened after mixed economic data. Durable goods orders in the US fell by 1.2% in October, which is much lower than expectations for growth of 0.3%. Initial jobless claims in the US fell by 13 thousand to 239 thousand for the week ending November 18.

The UK Chancellor of Exchequer Philip Hammond made a presentation on the budget in Parliament today. The Office for Budget Responsibility lowered its forecast for growth in 2018 to 1.4%, compared with a 1.6% forecast in March. In addition, Hammond said that the British government has allocated an additional 3 billion pounds sterling for situational planning in connection with the release of the country from the European Union (Brexit) for the next two years.