BRIEF: ECB Villeroy Says Rates Will Move To Neutral By Summer

mni: fomc minutes: at or near time to slow pace of cuts

MNI BRIEF:NGEU To Lift Growth Less Than Expected -ECB Bulletin

MNI BRIEF: US Hiring, Pay Growth Continue Downshift- ADP

MNI China Daily Summary: Wednesday, January 8

MNI: PBOC Net Injects CNY1.1 Bln via OMO Wednesday

MNI: US NOV CONSUMER CREDIT -$7.5B

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

EZ/UK Bond Supply Calendar: Portugal Syndication "Nr future"

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FOREX: Greenback Receives Boost from Above-Estimate ISM/JOLTS Data

FOREX
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • The US dollar pared initial losses on Tuesday, as both US ISM Services data and Jolts Job opening beat consensus expectations. The USD Index is up 0.15% on the session, although notably the DXY still sits just below the levels before the release of the WaPo tariff article during Monday trade.
  • EURUSD has echoed this sentiment with the early push back above 1.04 being met with solid resistance around Monday’s highs ~1.0435. Spot trades closer to 1.0370 as we approach the APAC crossover and will look to the old November low at 1.0335 as initial support.
  • Despite being unchanged on the session, USDJPY has traded with significant volatility with multiple two-way intra-day swings. Overnight, the pair traded multi month highs of 158.42, before encountering comments from the Japanese Finance Minister around excessive FX moves which halted the yen’s decline and saw USDJPY print a session low of 157.38.
  • The US data then took us back to exactly the match the highs, before the pessimistic price action in equities led the pair lower once more to current levels around 157.70.
  • In similar vein, both AUD and NZD spent the European session outperforming before risk off sentiment drove both these currencies back to unchanged levels ahead of the close.
  • The Swiss franc is a touch softer on the session following a lower-than-expected core inflation print, with EURCHF briefly trading up to a near 2-month high around 0.9440. USDCHF has risen 0.35%, and is reapproaching the 0.91 handle, with medium term targets of 0.9158 and 0.9250 well defined.
  • Australia CPI highlights the APAC calendar on Wednesday, before focus will turn to US ADP employment, jobless claims and the release of the December Fed meeting minutes. 
276 words

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.
  • The US dollar pared initial losses on Tuesday, as both US ISM Services data and Jolts Job opening beat consensus expectations. The USD Index is up 0.15% on the session, although notably the DXY still sits just below the levels before the release of the WaPo tariff article during Monday trade.
  • EURUSD has echoed this sentiment with the early push back above 1.04 being met with solid resistance around Monday’s highs ~1.0435. Spot trades closer to 1.0370 as we approach the APAC crossover and will look to the old November low at 1.0335 as initial support.
  • Despite being unchanged on the session, USDJPY has traded with significant volatility with multiple two-way intra-day swings. Overnight, the pair traded multi month highs of 158.42, before encountering comments from the Japanese Finance Minister around excessive FX moves which halted the yen’s decline and saw USDJPY print a session low of 157.38.
  • The US data then took us back to exactly the match the highs, before the pessimistic price action in equities led the pair lower once more to current levels around 157.70.
  • In similar vein, both AUD and NZD spent the European session outperforming before risk off sentiment drove both these currencies back to unchanged levels ahead of the close.
  • The Swiss franc is a touch softer on the session following a lower-than-expected core inflation print, with EURCHF briefly trading up to a near 2-month high around 0.9440. USDCHF has risen 0.35%, and is reapproaching the 0.91 handle, with medium term targets of 0.9158 and 0.9250 well defined.
  • Australia CPI highlights the APAC calendar on Wednesday, before focus will turn to US ADP employment, jobless claims and the release of the December Fed meeting minutes.