Marketwatch North America

Daily Insights
January 10, 2024

The dollar index (DXY) continues to trade within its recent narrow ranges, stuck in a 6-day holding pattern of support at 102.25 and resistance at 102.60. Today the DXY is -0.11% at 102.47, signaling a mixed dollar vs. the G10 currencies: +0.56% vs. JPY, +0.18% vs. NZD, -0.34% vs. NOK, -0.16% vs. AUD, -0.12% vs. GBP, and -0.10% vs. EUR, and several sub-0.10% moves.

The Japanese yen has seen the biggest net move today, registering declines against all the major currencies, notably -0.86% vs. NOK, -0.71% vs. AUD, and -0.64% vs. GBP, SEK, CAD, & EUR.

USDCAD is -0.10% today but remains in a short-term uptrend started Dec 27th. Support is seen at 1.3175 and resistance at 1.3400. USDMXN is -0.15% during January, uncharacteristic low volatility.

Traders are sidelined, waiting for tomorrow’s CPI and Friday’s PPI, key inflation readings for December.

U.S. Treasury yields are slightly lower in all tenors, down an average -0.03% (except in the 6-month which is +0.01%), insignificant moves ahead of the inflation data releases.

Gold is -0.07% but still trading above long-term $2,000/oz. support at $2,027.70. Oil is +1.15% today and +1.81% during January.

Economic Calendar

USD - Final Wholesale Inventories m/m
NZD - ANZ Commodity Prices m/m
USD - Crude Oil Inventories
AUD - CPI y/y
USD - 10-y Bond Auction
JPY - 10-y Bond Auction
USD - FOMC Member Williams Speaks
EUR - French Industrial Production m/m
EUR - Italian Retail Sales m/m
EUR - German 10-y Bond Auction
GBP - BOE Gov Bailey Speaks
NZD - Building Consents m/m

Market Indicators

Currency Pairs
Pair High Low
usd/jpy 145.333 144.415
eur/usd 1.09554 1.09228
gbp/usd 1.27364 1.26863
aud/usd 0.67129 0.66824
usd/cad 1.33943 1.33649
eur/gbp 0.86166 0.85957
usd/mxn 17.0034 16.9483
Equities and Commodities
S&P 500 4759.17
NASDAQ 16692.9
DOW 37536.9
GOLD 2028.86
SILVER 22.86

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.