Market news

Fed's Daly: Inflation not as temporary as we though because Covid-19 isn't either

NZD/USD probes session highs in 0.6760s as US dollar struggles in wake of mixed US jobs report

Canada: Ivey PMI falls to 45.0 in December from 61.2 in November

Canada Ivey Purchasing Managers Index declined to 51.1 in December from previous 61.2

Canada Ivey Purchasing Managers Index s.a: 45 (December) vs previous 61.2

NFP to encourage expectations for Fed tightening, keeping USD in resilient form – TDS

USD/CAD breaks below the 1.2700 figure after Canada and US employment data

USD/TRY recedes from 2022 highs just below 14.00

Silver Price Analysis: XAG/USD little changed in $22.20 area after headline NFP misses forecasts

USD/CAD: Loonie is beginning to look attractive – TDS

Turkey Treasury Cash Balance: -92.09B (December) vs previous 30.28B

EUR/USD set to drop substantially towards the 1.10 level – Scotiabank

GBP/USD to inch higher towards 1.36 on a breach of the 100-DMA of 1.3556 – Scotiabank

EUR/CAD: Undertone to weaken below 1.4325 – Scotiabank

USD/CHF climbs to over two-week high post-NFP, eyeing mid-0.9200s

USD/JPY has the 123.00 in its crosshairs – Credit Suisse

US Dollar Index unchanged above 96.00 post-Payrolls

Canada: Economy adds 54.7K jobs in December versus 27.5K median forecast

United States Unemployment Rate below forecasts (4.1%) in December: Actual (3.9%)

United States Labor Force Participation Rate registered at 61.9% above expectations (61.7%) in December

United States Average Hourly Earnings (MoM) came in at 0.6%, above forecasts (0.4%) in December

United States U6 Underemployment Rate came in at 7.3%, below expectations (8%) in December

United States Nonfarm Payrolls came in at 199K below forecasts (400K) in December

Breaking: US Non-farm Payrolls rise by 199K in December versus 400K median forecast

United States Average Weekly Hours below expectations (34.8) in December: Actual (34.7)

Canada Participation Rate in line with expectations (65.3%) in December

United States Average Hourly Earnings (YoY) above expectations (4.2%) in December: Actual (4.7%)

Canada Net Change in Employment above forecasts (27.5K) in December: Actual (54.7K)

Canada Unemployment Rate below forecasts (6%) in December: Actual (5.9%)

GBP/USD subdued just under 1.3550 with FX markets primed for US jobs report

AUD/USD Price Analysis: Further decline below 0.7100 remains on the cards, NFP awaited

ECB's Lane: Reiterates belief that inflation will fall this year, says energy prices a major issue

EUR/USD Price Analysis: A deeper pullback is seen below 1.1272

US Dollar Index Price Analysis: Extra gains likely above 96.50

When is the Canadian jobs report and how could it affect USD/CAD?

EUR/JPY Price Analysis: Upside bias looks unchanged so far

When is the US monthly jobs report (NFP) and how could it affect EUR/USD?

Mexico 12-Month Inflation below expectations (7.51%) in December: Actual (7.36%)

Mexico Core Inflation registered at 0.8% above expectations (0.76%) in December

Mexico Headline Inflation below expectations (0.51%) in December: Actual (0.36%)

FOMC Minutes signaled a potential sooner normalization – UOB

Reuters Poll: CAD to rise 1% to 1.26/USD in three months vs. 1.25 in December poll

India FX Reserves, USD dipped from previous $635.08B to $633.31B in December 31

USD/JPY to inch higher towards 117.00 on strong wage inflation data – MUFG

Chile Core Consumer Price Index (Inflation) (MoM) came in at 0.9%, above expectations (0.5%) in December

Ireland Retail Sales (YoY) up to 16.3% in November from previous 1.5%

Ireland Retail Sales (MoM) dipped from previous 1.7% to 0.6% in November

Chile Consumer Price Index (Inflation) (MoM) came in at 0.8%, above expectations (0.51%) in December

USD/CHF struggles for a firm direction, stuck in a range above 0.9200 ahead of NFP

South Korea: Further tightening likely by the BoK – UOB

USD/TRY to surge higher above 20.00 in the second quarter – TDS

EUR/JPY largely retains a bullish tone – DBS Bank

Eurozone Retail Sales jump by 7.8% YoY in November, a big beat

European Monetary Union Business Climate rose from previous 1.8 to 1.84 in December

EUR/PLN to converge back towards pre-pandemic level of 4.30 over 2022 – TDS

European Monetary Union Retail Sales (MoM) above expectations (-0.5%) in November: Actual (1%)

Breaking: Eurozone Preliminary CPI rises by 5.0% YoY in December, a positive surprise

European Monetary Union Retail Sales (YoY) came in at 7.8%, above forecasts (5.6%) in November

European Monetary Union Consumer Confidence meets forecasts (-8.3) in December

European Monetary Union Consumer Price Index - Core (YoY) registered at 2.6% above expectations (2.5%) in December

European Monetary Union Consumer Price Index (YoY) came in at 5%, above forecasts (4.7%) in December

European Monetary Union Economic Sentiment Indicator came in at 115.3 below forecasts (116) in December

European Monetary Union Industrial Confidence registered at 14.9 above expectations (13.9) in December

European Monetary Union Services Sentiment came in at 11.2 below forecasts (16) in December

Nasdaq 100 to plunge towards October trough of 14380 on a break below 15500/15350 – SocGen

US dollar to lurch higher on strong unemployment rate and average earnings readings – ING

GBP/USD holds steady near mid-1.3500s, 100-DMA as traders await the key NFP report

Everything points to a fall in the return on equity for shareholders in the future – Natixis

GBP/USD: Strong NFP wage inflation reading to push cable below 1.35

US Dollar Index to resume the uptrend toward 98.30 once beyond 97.00 – SocGen

EUR/USD in wait-and-see mode close to 1.1300 ahead of key US jobs report, eyes potential pennant breakout

United Kingdom Markit Construction PMI came in at 54.3, above expectations (54) in December

WTI Price Analysis: Rally stalls at $80.00 on easing supply disruption woes

USD/CAD bounces off daily low, defends 1.2700 mark ahead of US/Canadian jobs report

EUR/USD regains upside traction above 1.1300 ahead of EMU CPI, NFP

Singapore Foreign Reserves (MoM) rose from previous 413B to 417.9B in December

Italy Public Deficit/GDP fell from previous 7.6% to 6.2% in 3Q

USD/CNH could now retest the 6.4000 level – UOB

US Dollar Index struggles for direction around 96.20 ahead of NFP

FX option expiries for January 7 NY cut

China Foreign Exchange Reserves (MoM) registered at $3.25T above expectations ($3.233T) in December

Gold Price Forecast: XAU/USD seems vulnerable near two-week low, NFP awaited

EUR/USD: Hot inflation in eurozone could rescue the euro from strong NFP

Austria Trade Balance fell from previous €-483.4M to €-1240.1M in October

EUR/GBP to push lower towards the 0.8280/8300 area on solid NFP – ING

BOJ unruffled on yen’s fall but government may react if USD/JPY hits 120.00 – MNI

USD/CAD to stabilise around the 1.26/1.28 area for now – ING

EUR/USD to dive briefly below 1.10 this summer as dollar should stay strong in 1H22 – ING

France Trade Balance EUR fell from previous €-7.513B to €-9.73B in November

France Exports, EUR rose from previous €43.103B to €44.017B in November

France Imports, EUR increased to €53.74B in November from previous €50.616B

France Industrial Output (MoM) came in at -0.4% below forecasts (0.5%) in November

France Current Account registered at €-3.6B, below expectations (€-2.6B) in November

France Consumer Spending (MoM) came in at 0.8%, above forecasts (0.5%) in November

EUR/NOK about sideways, slightly higher USD/NOK in 2022 – Nordea

USD/TRY extends four-day winning streak, closes in on 14.00

EM countries should try to rapidly arrest any downward movement in their exchange rates – Natixis

AUD/USD surrenders modest intraday gains, hangs near daily low around mid-0.7100s

Gold Price Forecast: XAU/USD to edge lower on strong NFP

Switzerland Real Retail Sales (YoY) climbed from previous 1.2% to 5.8% in November

USD/JPY: Upside pressure mitigated below 115.30 – UOB

Natural Gas Futures: Probable move higher near term

Forex Today: Dollar consolidates Fed-inspired gains, eyes on EU inflation, US NFP data

German Industrial Production unexpectedly drops by 0.2% MoM in November

Germany Trade Balance s.a. came in at €10.9B below forecasts (€12.8B) in November

Germany Exports (MoM) above expectations (-0.2%) in November: Actual (1.7%)

Norway Credit Indicator dipped from previous 5.3% to 5.1% in November

Norway Manufacturing Output above expectations (-0.5%) in November: Actual (0%)

Germany Current Account n.s.a. registered at €18.9B above expectations (€14.7B) in November

Germany Industrial Production n.s.a. w.d.a. (YoY) declined to -2.4% in November from previous -0.6%

Germany Imports (MoM) above expectations (-1.7%) in November: Actual (3.3%)

United Kingdom Halifax House Prices (YoY/3m) above expectations (7.7%) in December: Actual (9.8%)

Germany Industrial Production s.a. (MoM) below expectations (1%) in November: Actual (-0.2%)

Denmark Unemployment Rate down to 2.4% in November from previous 2.7%

United Kingdom Halifax House Prices (MoM) came in at 1.1%, above forecasts (0.7%) in December

USD/IDR Price News: Rupiah buyers flirt with $14,350 as Indonesia tackles coal supply crunch

AUD/USD: Strong support emerges at 0.7110 – UOB

Crude Oil Futures: Rally has further legs to go

GBP/USD: Upside momentum picks up pace – UOB

Switzerland Unemployment Rate s.a (MoM) registered at 2.4%, below expectations (2.5%) in December

USD/JPY sticks to modest gains around 116.00, lacks follow-through as focus remains on NFP

Australia 2022 GDP growth forecast cut from 3.7% to 3.0% – Nomura

Gold Futures: Door open to extra decline

USD/CAD Price Analysis: Eyes further losses near 1.2700, US/Canada employment data in focus

EUR/USD remains consolidative within 1.1240-1.1395 – UOB

South Africa Gross $Gold & Forex Reserve came in at $57.589B, below expectations ($57.735B) in December

South Africa Net $Gold & Forex Reserve below expectations ($55.556B) in December: Actual ($55.309B)

Gold Price Forecast: Firmer Bund yields, bearish technicals test XAU/EUR rebound ahead of Eurozone inflation

GBP/USD Price Analysis: Thursday’s “Hanging Man” tests buyers near 1.3550

EUR/USD steadies near 1.1300 as yields retreat ahead of Eurozone inflation, US NFP

NZD/USD Price Analysis: Off monthly horizontal support but not out of woods

USD/INR Price News: Indian Rupee vulnerable to a significant correction

AUD/USD pares weekly losses below 0.7200 with eyes on yields, US NFP

Australian Treasurer Frydenberg: RBA should face independent review – AFR

Treasury yields surge likely to be capped by ‘new conundrum’ – Goldman Sachs

Japan’s Suzuki: Closely watching the impact of FX moves on the economy

WTI is creeping higher in an extension of the 29 Nov' weekly rally

King dollar to extend its dominance in 2022 as Fed gears up for rate hikes – Reuters poll

USD/CHF Price Analysis: Seesaws around 0.9215 key level

Commodities. Daily history for Thursday, January 6, 2022

USD/CNY eyes to snap two-week uptrend on PBOC moves, coronavirus fears ahead of US NFP

XAG/USD: As real yields rise, silver's collectable appeal could also suffer

Libya’s NOC: maintenance work at Al-Waha completed, output to be back around 1M bpd

Japan Foreign Investment in Japan Stocks: ¥17.1B (December 31) vs previous ¥124.5B

Japan Foreign Investment in Japan Stocks up to ¥124.5B in December 24 from previous ¥-841.3B

Japan Foreign Investment in Japan Stocks increased to ¥124.5B in December 31 from previous ¥17.1B

Japan Foreign Bond Investment declined to ¥-416.5B in December 31 from previous ¥-310B

US Dollar Index eases above 96.00 as yields retreat ahead of US NFP

Japan Foreign Bond Investment: ¥-416.58B (December 24) vs ¥-1588.5B

US: Nonfarm Payrolls to rise by 260K in December – Morgan Stanley

Schedule for today, Friday, January 7, 2022

USD/CNY fix: 6.3742 vs. estimate of 6.3720

USD/TRY Price Analysis: Further upside hinges on 13-day-old resistance break, US NFP

USD/CAD bears remain on top desite hawkish Fed, oil prices and BoC support CAD

USD/CNY: Yuan could see “small further gains” to 6.2 by the end of this year – Goldman Sachs

EUR/USD hovers around 1.1300 amid softer yields, Eurozone CPI, US NFP eyed

AUD/USD Price Analysis: Refreshes intraday high, flirts with 200-SMA with eyes on US NFP

USD/JPY approaches 116.00 even as yields dwindle, Japan PM Kishida, US NFP eyed

China may ease monetary policy in Q1 despite hawkish Fed, and that's AUD/USD negative

Currencies. Daily history for Thursday, January 6, 2022

US inflation expectations drop to two-week low ahead of US NFP

Gold Price Forecast: XAU/USD bears await US NFP near five-month-old support below $1,800

Japan Foreign Bond Investment increased to ¥-416.5B in December 24 from previous ¥-1588.5B

Japan Foreign Investment in Japan Stocks up to ¥17.1B in December 24 from previous ¥-841.3B

Japan Tokyo CPI ex Food, Energy (YoY) remains unchanged at -0.3% in December

Japan Tokyo CPI ex Fresh Food (YoY) in line with expectations (0.5%) in December

Japan Labor Cash Earnings (YoY) below forecasts (0.5%) in November: Actual (0%)

Japan Tokyo Consumer Price Index (YoY) increased to 0.8% in December from previous 0.5%

Japan Overall Household Spending (YoY) below expectations (1.6%) in November: Actual (-1.3%)

US Sec. of State Blinken: US and Japan to launch new defense research and development agreement

NZD/JPY Price Analysis: The 200-DMA at risk of being broken hoovers around 78.15

GBP/USD: Cautious optimism over Brexit, Omicron defends 1.3500 ahead of US NFP

Report: Australia's most populous state to reinstate some COVID-19 curbs – Reuters

NZD/USD eyes 2021 bottom amid strong US Treasury yields, focus on US NFP

EUR/USD Price Analysis: Breaks under the 1.1300 figure as bears eye 2021 yearly low

AUD/USD slams into weekly support ahead of critical NFPs

S&P 500 subdued near 4700 as trader focus shifts to NFP and its impact on the probability of March “lift-off”

Silver Price Analysis: XAG/USD stabilises above $22.00 as focus turns to Friday’s US jobs report

Forex Today: Nonfarm Payrolls could mean an even more aggressive Fed

Fed's Bullard: Better to start hikes “sooner rather than later”, QT should begin “shortly after”

GBP/JPY Price Analysis: Retreats from yearly highs around 157.00 amid a risk-off market mood

EUR/GBP bears eye another bearish weekly close and below 0.8338 is key

USD/CHF Price Analysis: Reclaims the 0.9200 figure amid mixed US macroeconomic data

Fed's Bullard: Could raise interest rates as soon as March

USD/CAD Price Analysis: Bears get their discounts, now need to break critical 4-hour support

United States 4-Week Bill Auction: 0.05% vs previous 0.055%

USD/JPY subdued to the south of 116.00 level as focus turns to Friday’s key US jobs report

USD/MXN slides below the 100-DMA hovering around 20.4400 after Banxico’s minutes

Fed's Daly: We will need to raise interest rates to keep economy in balance

NZD/USD stabilises in 0.6750 area as post-hawkish Fed minutes selling subsides, bears eye test of 0.6700

Fed's Daly: US labour market looks very strong, though pandemic holding back workers

EUR/USD pierces the 1.1300 figure after US ISM Services PMI