The U.S. dollar was seen trading weaker amid a lack of macro-economic themes. The U.S. Congress is expected to pass President Trump’s tax reforms bill before the end of the week. The weaker U.S. dollar saw precious metals attempting to post some gains, as gold and silver prices rose by 0.5% within the day.
In the Eurozone, the final inflation figures confirmed that headline inflation in the Eurozone rose by 1.5% on a year over year basis in November. Core inflation rate was seen rising 0.9% in November. There was no change to the data following the flash inflation estimates.
Looking ahead, the U.S. building permits data will be coming out today. Building permits are expected to rise 1.28 million which will be followed by the housing stats data. FOMC Member, Kashkari who voted against the rate hike will be speaking later today.
