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Decent services PMI pushes GBP higher, Ripple breaks above $3

Summary:

  • UK services PMI surprises a little to the upside

  • Global optimism boosts stocks

  • US labour market data in the spotlight

After an upbeat sessions in Asia and US most of the European benchmarks march higher amid global optimism. USD managed to get second breath after yesterday’s constructive FOMC minutes. The WTI prices surpassed $62 handle as the majority of industrial commodities posted solid gains.

As opposed to the previous PMIs published earlier this week the paramount services PMI turned out to be a notch better than forecasts making an increase compared to the prior month as well. On the other hand details seem to not so rosy while the current account data undercuts upbeat moods shared among service providers.

The most popular traders’ report is just around the corner. The NFP report for the final month of the last year will be released on Friday at 2:30 BST and could be treated as a potential lifeline for the US dollar.

Asian stocks rose amid global optimism as gains on Wall Street prevailed for another day. The Japanese stocks opened the year with the biggest daily advance in 14 months. European stocks, that lagged behind due to strong euro, finally got some wind  and opened higher on Thursday.

In the wake of a mind-bending increase registered during the past hours Ripple has already become the second largest cryptocurrency in terms of capitalization decisively surpassing $100 billion. Notice that it’s just obtained market capitalization accounting for more than 55% of Bitcoin’s one.

The US dollar gained a foothold yesterday evening following the FOMC minutes from the December’s meeting which confirmed quite a common stance with regard to the future of interest rate hikes. The document underlined that most of members opted for continued but gradual hikes citing the tight labour market which ought to lift inflation after all.

In today’s economic calendar we still have data concerning US labour market ahead. Initial jobless claims and nonfarm employment change prints will be the last figures prior to tomorrow’s NFP. In the evening government’s report on oil inventories will be released.

 

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