Here’s what you need to know to trade today Wednesday January 15:
Markets are seeing a typically cautious environment ahead of the release of US Consumer Price Index (CPI) data for December, which will provide fresh insights into the path of Federal Reserve (Fed) interest rates. ) from USA
The US dollar (USD) remains consolidated after the recent correction from more than two-year highs against its main rivals. US 10-year Treasury yields are also licking their wounds, as traders digest a softer US Producer Price Index (PPI) report.
US Dollar PRICE Today
The table below shows the percentage change of the US Dollar (USD) against major currencies today. The US Dollar was the strongest currency against the Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.08% | 0.05% | -0.50% | -0.03% | -0.10% | -0.11% | -0.09% | |
| EUR | -0.08% | -0.03% | -0.57% | -0.13% | -0.18% | -0.19% | -0.17% | |
| GBP | -0.05% | 0.03% | -0.56% | -0.08% | -0.15% | -0.17% | -0.12% | |
| JPY | 0.50% | 0.57% | 0.56% | 0.47% | 0.40% | 0.38% | 0.44% | |
| CAD | 0.03% | 0.13% | 0.08% | -0.47% | -0.07% | -0.08% | -0.04% | |
| AUD | 0.10% | 0.18% | 0.15% | -0.40% | 0.07% | -0.01% | 0.03% | |
| NZD | 0.11% | 0.19% | 0.17% | -0.38% | 0.08% | 0.01% | 0.04% | |
| CHF | 0.09% | 0.17% | 0.12% | -0.44% | 0.04% | -0.03% | -0.04% |
The heat map shows percentage changes for major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change shown in the box will represent USD (base)/JPY (quote).
Data released on Tuesday showed that the US annual PPI rose 3.3% in December, below expected growth of 3.4%, while core PPI inflation rose to 3.5% in the same period, compared with estimates of 3.8%. The monthly figures also disappointed. Despite the softer data, markets have fully priced in a pause in rate cuts at the Fed’s policy meeting later this month.
Traders remain cautious amid China’s lingering economic concerns, US President-elect Donald Trump’s policies and the prospect of fewer Fed rate cuts this year, leaving major currency pairs on the back foot. defensive.
In the foreign exchange market, the USD/JPY it remained near 158.00 for almost the entire Asian session before Bank of Japan (BoJ) Governor Kazuo Ueda intervened and supported the Japanese Yen. The pair remains under heavy selling pressure in the early European session, trading below 157.50. Ueda said the central bank “will raise interest rates and adjust the degree of monetary support if improvements in the economy and price conditions continue.” His comments raised bets of a BoJ rate hike next week.
AUD/USD extends its slow momentum below 0.6200 amid a cautious risk tone, despite China’s continued efforts to support the local currency and economy. Fears of a US-China trade war and expectations of dovish policy from the Reserve Bank of Australia (RBA) keep the underlying bearish sentiment around the Australian Dollar intact.
The British Pound finds fresh selling, dragging GBP/USD back below 1.2200 following an unexpected slowdown in UK CPI inflation. The UK’s annual CPI rose 2.5% in the year to December, down from 2.6% the previous month, the Office for National Statistics (ONS) said, missing estimated growth of 2.7%. Services inflation declined sharply to 4.4% year-on-year in December from 5% in November. The soft data will likely stoke expectations of further easing from the Bank of England (BoE).
EUR/USD takes a backseat below 1.0300 in the European session as traders weigh the latest comments from European Central Bank (ECB) Chief Economist Phillip Lane. Lane said: “It takes time for monetary easing to have impact and effect.” Euro buyers refrain from placing new bets on the pair ahead of high-impact US data.
He USD/CAD moves back and forth in a tight range around 1.4350 amid a pause in the oil price recovery and a stable US dollar. The WTI oil price is modestly flat on the day, trading just below $77 at the time of writing.
The price of Gold finds new demand in the European session, reversing Asian losses to advance towards the $2,700 barrier.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
