The US Dollar prints small gains against most major G20 peers.
Traders are getting ready for the weekly US Jobless Claims.
The US Dollar Index pops back above 104 in a very calm market for now.
The US Dollar (USD) is back in the green after a stalemate session on Wednesday. Initially hopes of a ceasefire breakthrough between Israel and Hamas made the safety-linked US Dollar retreat a touch. After Israel’s Prime Minister Benjamin Netanyahu came out late Wednesday evening with a statement rejecting the plan, however, the USD gained a bid. According to Netanyahu the complete destruction of Hamas would only take a few more months anyway.
On the economic front, traders are getting ready for the weekly US Jobless Claims. The Wholesale Inventories are due as well later this Thursday, though expect not much movement in the Greenback on the back of that.
Traders looking for a longer term trade or strategy, or analysts that want to better assess the longer term inflation risks might consider taking a look at the US crop report: The United States Department of Agriculture (USDA) releases every month the World Agricultural Supply and Demand Estimates report (WASDE) where insights are given on supply, demand, bad harvests on all sorts of crops, and thus on possible weak spots that might attribute to the food inflation basket.
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