Marketwatch North America

Daily Insights
January 2, 2024

The dollar is higher today, building on momentum from gains late last week. The U.S. Dollar Index is +1.52% since last Thursday’s low at 100.617 and +0.81% today. The dollar is higher vs. the G10 and full list of majors, notable gains: +0.94% vs. CHF, +0.82% vs. EUR & GBP, +0.69% vs. JPY, +0.48% vs. CAD, +0.44% vs. AUD, and +0.40% vs. MXN. Reports of Iran sending a warship to the Red Sea has shifted markets to a ‘risk-off’ stance, driving flows to the greenback.

U.S. Treasury yields are higher today in all tenors, led by the 3-year with a gain of 0.09% at 4.1009% (closed Friday at 4.0102%).

The majority of global equity index futures are negative today including U.S. futures which are signaling a sharp drop at the open: Nasdaq 100 mini -0.94%, and S&P 500 mini -0.73%.

Oil prices are +1.56% at $72.80/barrel, down from $73.64/barrel earlier in today’s trading session.

Gold closed December at $2,062.59/oz., an all-time monthly and yearly record. Silver is rangebound between $18oz and $26oz long-term and $22oz-$25oz short-term.

This week’s primary economic reports are set for release on Friday, led by Nonfarm Payrolls and Unemployment for December. Friday we will also see Factory Orders and Durable Goods Orders. The FOMC’s Meeting Minutes (for the December 13th rate policy decision) will be released on Wednesday.

Canada will also release its Net Change in Employment and Unemployment Rate figures on Friday.

Economic Calendar

CAD - Manufacturing PMI
JPY - Bank Holiday
USD - Final Manufacturing PMI
GBP - BRC Shop Price Index y/y
USD - Construction Spending m/m
CNY - Caixin Manufacturing PMI
NZD - GDT Price Index
AUD - Commodity Prices y/y
CHF - Bank Holiday
EUR - Spanish Manufacturing PMI
EUR - Italian Manufacturing PMI
EUR - French Final Manufacturing PMI
EUR - German Final Manufacturing PMI
EUR - Final Manufacturing PMI
EUR - M3 Money Supply y/y
EUR - Private Loans y/y
GBP - Final Manufacturing PMI

Market Indicators

Currency Pairs
Pair High Low
usd/jpy 142.217 141.095
eur/usd 1.10435 1.09458
gbp/usd 1.27598 1.26213
aud/usd 0.68391 0.67772
usd/cad 1.33117 1.32283
eur/gbp 0.86785 0.86459
usd/mxn 17.0655 16.9065
Equities and Commodities
S&P 500 4748.23
NASDAQ 16709.2
DOW 37553.1
GOLD 2065.43

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.