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.
