Saturday, January 16, 2021

Greenback retains steadier forward of CPI knowledge

Foreign exchange information from the European buying and selling session – 13 January 2020



  • GBP leads, NZD lags on the day
  • European equities a little bit decrease; E-minis down 0.3%
  • US 10-year yields down 1 bps to 1.119%
  • Gold flat at $1,855.05
  • WTI up 0.4% to $53.45
  • Bitcoin down 1.1% to $34,314

EOD 13-01
The push and pull out there continues because the greenback is retaining greater in buying and selling at present forward of an important US CPI report on the backside of the hour.

Equities had been extra tepid and dropped barely on the session whereas Treasury yields did not do a complete lot and are retaining a little bit decrease after the retreat yesterday.

There wasn’t something too notable within the European morning as traders wait on the inflation knowledge later and Biden’s fiscal package deal unveiling tomorrow.

EUR/USD eased from 1.2200 to 1.2161 whereas USD/JPY pushed up from 103.75 to 104.00 because the greenback recouped some floor following losses yesterday. In the meantime, AUD/USD additionally fell from 0.7770 to 0.7735 and is contesting its key hourly transferring averages now.

The important thing pair to look at stays USD/JPY and that’s nonetheless largely restricted by key resistance trendline ranges simply above the 104.00 deal with in the meanwhile.

Trying forward, we’ll see if the US CPI knowledge has something to shake up the reflation narrative later or else we might have to attend on Biden tomorrow. Within the meantime, look out for extra Fedspeak (Brainard, Clarida) as nicely to comply with later within the day.

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