Forexlive European FX news wrap: The US Dollar recovers losses amid tariffs threats ...Middle East

Germany ZEW survey current conditions -90.4 vs -93.0 expecctedUS futures creep higher on the sessionECB's Villeroy: We are not on a pre-set course on ratesDollar firms as traders check back on tariffsEuropean indices hold slightly lower at the open todayWhat are the main events for today?Eurostoxx futures -0.3% in early European tradingUK November ILO unemployment rate 4.4% vs 4.4% expectedOne step at a time..Japan top FX diplomat says that Trump's policies are basically inflationaryFX option expiries for 21 January 10am New York cut

Looking at the data releases, the UK Employment report was the main highlight and the data showed once again job losses although the wage growth continues to run hot. The market pricing didn't change much although traders firmed up the expectations for a 25 bps cut at the upcoming meeting.

Gold has been mostly consolidating near the highs set overnight, while crude oil extended the slide as potentially higher US oil output and slower economic growth due to trade wars weighed on prices.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

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