Forex news for North American trading on January 9, 2018
- Nov US JOLTS 5879K vs 6025K expected
- Discount rate minutes: Three regional directors were against raising discount rate
- US sells 3-year notes at 2.080% vs 2.090% WI bid
- Kodak joins the cryptocraze, gets a 77% stock boost
- Trump will be in Davos this year
- WTI crude oil breaks the 2015 high
- Leader of Italy's 5-start movement abandons platform of leaving the euro
- UK Brexit minister and finance minister look to ease German nerves
- Fed's Kashkari: Economic recovery has been frustratingly slow
- Kashkari: Right now the main concern is that inflation is going to be too low
- One economist thinks everyone 'wildly overreacted' to the Canadian jobs report
- Canada December housing starts 216.98K vs 211.0K expected
Markets:
- Gold down $7 to $1313
- WTI crude oil up 95-cents to $62.89 per barrel
- US 10-year yields up 6.7 bps to 2.55%
- S&P 500 up 8 points to record 2755
- JPY leads, CHF lags
Currencies made some solid moves in Asia and Europe but generally ticked sideways in North American trade aside from weakness in the commodity bloc.
EUR/USD skidded along the lows, hitting 1.1916 before a small recovery to 1.1932.
USD/JPY tried to form a double bottom at 112.50 but failed after a wave of selling into the London fix. That subsided afterwards and it ticked back to 112.66.
Cable was also soft before the fix and hit a session low of 1.3506 but has since steadily climbed to 1.3533. That's just below an intraday resistance level at 1.3542. That will be a spot to watch in the hours ahead.
USD/CAD made an impressive stand despite the downward momentum and the rise in oil. The pair climbed above the 61.8% retracement of the jobs drop. That was also a minor double top. It continued up to 1.2478 and is trading at 1.2464.
