Free Trial

Greenback Partially Trims Advance Following FOMC Minutes

USD
  • The greenback has pared some gains in the aftermath of the FOMC minutes, amid treasury yields dropping to fresh session lows in recent trade. With that said, overall the US dollar looks set to continue its 2024 advance on Wednesday, with the USD index remaining 0.30% in the green. Dampened sentiment in equity markets continues to underpin the greenback bid, with the strength most notable against the Japanese Yen.
  • In sympathy with the broad dollar rally, EURUSD briefly faded back below the 1.0900 handle, closely matching the December 18 low in the process. For now, the pullback looks corrective in nature, with prices holding within the uptrend channel drawn off the October low. This keeps 1.0878 as the key support.
  • China’s Caixin Services PMI will highlight Thursday’s APAC data calendar before markets receive a host of Eurozone inflation prints for December. US ADP employment and jobless claims are notable releases in the US, although the focus will quickly turn to non-farm payrolls on Friday.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.