Forex Today: Santa’s rally continues, Dollar rebounds

The focus is on 2024, particularly considering that the first week will be a busy one. On the last trading day of 2023, the economic calendar is light. The attention will be on Spain's preliminary December consumer inflation figures.

Here is what you need to know on Friday, December 29:

Data from the US released on Thursday revealed that Initial Jobless Claims rose by 12,000 in the week ended December 23 to 218,000, above the market consensus of 210,000. Continuing claims reached 1.875 million, the highest level in four weeks. Pending Home Sales remained flat in November, falling short of expectations for a 1% increase. On Friday, the Chicago PMI is due. Regarding economic reports, the focus is on next week's employment figures.

The US Dollar Index (DXY) bottomed at 100.86, marking the lowest level since July, and then rebounded sharply, rising to 101.25. Higher US Treasury yields helped boost the Greenback, with the 10-year yield rising to 3.85% following the auction of the 7-year note.