Marketwatch North America

Daily Insights
February 12, 2024

The dollar is mixed against the G10 this morning with a slight edge going towards dollar strength. The U.S. Dollar Index is +0.08% at 104.185, still mired within its recent 104.00 support and 104.50 1-week range. Dollar gains include a 0.37% gain vs. NZD, 0.22% gain vs. CHF, 0.15% gain vs. EUR and 0.08% gain vs. GBP. Dollar losses are a 0.33% drop against the NOK and 0.22% drop vs. SEK.

Volatility in the FX major pairs continues to wane despite tomorrow’s key CPI inflation data. Friday’s FX notional volumes were the lowest since Jan 15th and Asian holidays this week will likely keep overturn low.

U.S. Treasury yields are essentially unchanged with net moves in all tenors currently sub-0.00%.

The S&P 500 Index is in its 4th monthly consecutive gain, +19.88% since October’s close at 4,193.80. Friday was the first time the S&P traded above 5,000 and closed the day at a record 5,026.61.

Oil is -0.09% today and +7.19% YTD. Gold is -0.48% today and -2.35% YTD.

This week’s U.S. economic calendar is full, beginning with tomorrow’s CPI for January, Mortgage Applications on Wednesday, Empire Manufacturing, Retail Sales, Initial Jobless Claims, and Industrial Production on Thursday, and Housing Starts, PPI, and Consumer Sentiment on Friday.

Economic Calendar

JPY - Bank Holiday
CNY - Bank Holiday
NZD - RBNZ Gov Orr Speaks
USD - FOMC Member Bowman Speaks
USD - FOMC Member Barkin Speaks
GBP - BOE Gov Bailey Speaks
USD - Federal Budget Balance
AUD - Westpac Consumer Sentiment
JPY - PPI y/y

Market Indicators

Currency Pairs
Pair High Low
usd/jpy 149.378 148.925
eur/usd 1.08055 1.0761
gbp/usd 1.26546 1.26058
aud/usd 0.65311 0.65079
usd/cad 1.34751 1.34463
eur/gbp 0.85468 0.85227
usd/mxn 17.1029 17.0442
Equities and Commodities
S&P 500 5024.97
NASDAQ 17955.2
DOW 38630.6
GOLD 2017.07
SILVER 22.63

This document is for information purposes only and does not constitute any recommendation or solicitation to any person to enter into any transaction or adopt any trading strategy, nor does it constitute any prediction of likely future movements in exchange rates or prices or any representation that any such future movements will not exceed those shown on any illustration. All exchange rates and figures appearing are for illustrative purposes only. You are advised to make your own independent judgment with respect to any matter contained herein.