Marketwatch North America

Daily Insights
January 23, 2024

The U.S. Dollar Index traded as low as 102.982 overnight where dollar bulls were waiting to buy on dips below recent support at 103.00. The DXY quickly rebounded and has been corralled back inside its recent 103/103.50 range, currently trading at 103.38. Barring any major global headlines, trading will likely be confined to increasingly narrow ranges in the lead-up to the FOMC’s rate policy decision next week.

Dollar gains vs. the G10 (all sub-0.25%): EUR, DKK, GBP, CHF, and JPY. Dollar losses (also all sub-0.25%): AUD, SEK, NZD, NOK, and CAD.

U.S. Treasury yields are slightly positive in all tenors today with the benchmark 10-year +0.015% at 4.127%, midway between short-term support at 4.00% and resistance at 4.20%.

Global equity indexes are mixed today. U.S. equity index futures are indicating a lower open for the DOW (after marking a fresh all-time-high yesterday), and higher opens for the S&P 500 and Nasdaq 100.

Bitcoin is -3.04% today at $38,601 and is now -21.30% from the January 11 high of $49,051.33, the day Bitcoin ETFs first listed.

The Bank of Canada is set to announce its latest rate policy tomorrow, with no change expected.

Economic Calendar

EUR - Consumer Confidence
AUD - NAB Business Confidence
JPY - BOJ Outlook Report
JPY - Monetary Policy Statement
JPY - BOJ Policy Rate
USD - Richmond Manufacturing Index
JPY - BOJ Core CPI y/y
JPY - BOJ Press Conference
GBP - Public Sector Net Borrowing
CAD - NHPI m/m
NZD - CPI q/q
AUD - Flash Manufacturing PMI
AUD - Flash Services PMI
AUD - MI Leading Index m/m
JPY - Trade Balance

Market Indicators

Currency Pairs
Pair High Low
usd/jpy 148.549 146.976
eur/usd 0.92079 0.91608
gbp/usd 0.7878 0.78446
aud/usd 1.522 1.51222
usd/cad 1.34861 1.34529
usd/mxn 17.3155 17.1524
Equities and Commodities
S&P 500 4860.35
NASDAQ 17378.4
DOW 37969
GOLD 2023.58
SILVER 22.33

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.