What to keep in mind to operate today Tuesday January 10:
The US dollar started the week on the wrong foot as optimism weighed on the safe haven currency. On the one hand, market agents valued the US macroeconomic data published last Friday, which suggests that the Federal Reserve could slow down the pace of tightening.
The officials from the federal reserve supported such speculation, as San Francisco Fed President Mary Daly stated that either 50 basis points or 25 basis points is on the table for the next meeting. Atlanta Federal Reserve President Raphael Bostic added that rates should go up to 5% or 5.25%. Both promised more hikes to tame inflation before pausing and holding out for a while.
On the other, China announced the reopening of sea and land crossings with Hong Kong, closed three years ago. Asian indices posted significant gains, leading the gains of their foreign counterparts. It should be noted that Wall Street pared a good handful of its intraday gains before the close.
The pair EUR/USD hit seven-month highs at 1.0760, holding gains despite the lukewarm zone data euro. The GBP/USD traded at 1.2200, benefiting from widespread US dollar weakness.
Commodity-linked currencies rallied early in the day, consolidating near their daily highs against the dollar in the past two sessions. The AUD/USD It is trading around 0.6930, while USD/CAD drops to 1.3370.
The japanese yen it appreciates against the dollar and the pair falls to 131.50.
The Prayed keeps the profits and is trading at around $1,875 a troy ounce. However, the prices of Petroleum Crude finished the day little changed, with WTI currently trading at $74.70 a barrel.
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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.
