What to keep in mind to trade today Wednesday January 11:
The currency board saw little action on Tuesday amid a thin macroeconomic calendar and as investors awaited clarity from some central banks. The head of the US Federal Reserve Jerome Powelland their Canadian and Japanese counterparts were present, albeit as part of a symposium on central bank independence, without giving any new insights on monetary policy.
The US dollar rallied during the first half of the day but ended mixed as Wall Street managed to reverse pre-open losses and posted a modest advance. At the same time, US bond yields advanced. Investors are not willing to risk much ahead of the release of US inflation data next Thursday.
The pair EUR/USD is around 1.0740, while the GBP/USD stands at 1.2160, falling on the day. Commodity-linked currencies also fell against the dollar, with the AUD/USD trading around 0.6890 and USD/CAD in the 1.3420 price zone. Lastly, the pair USD/JPY It is trading marginally higher around 132.20.
Gold consolidates around $1,876 a troy ounce, while crude oil rose in the American afternoon. WTI stood at $75.20 a barrel.
The upcoming Asian session will be interesting in terms of macroeconomic data, as Australia will release the monthly Consumer Price Index for November, which is forecast at 7.3% yoy, up from 6.9% previously. Australia will also release November Retail Sales, which is expected to have increased by 0.6% after falling 0.2% in the previous month. Finally, it should be added that China will publish the Consumer Price Index (CPI) from December and the Producer Price Index (IPP) for the same month.
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.
