• Gold down $4 to $1916
  • US bonds closed
  • WTI crude oil down $1.01 to $78.85
  • S&P 500 futures down 8 points, or 0.2%
  • USD leads, JPY lags

It was a holiday in the USA and it unfolded in typical holiday fashion, without any surprises. The yen sagged earlier in the day on speculation the BOJ will hold off on changes for now and then chopped sideways.

The commodity currencies trended a tad lower in North American trade with USD/CAD up to 1.3411 from 1.3389 on softening oil and some downbeat comments in the BOC business outlook survey. Despite that, OIS implied BOC rates didn't move much.

The euro and pound continued to consolidate after bouncing around last week.

The day ahead will pick up in what's set to be a busy week.

FX news wrap Jan 16