What you need to take care of on Tuesday, January 17:

The American currency started the week where it left the previous one, easing across the FX board. Market participants were still cheering, easing United States price pressures and the possibility of a soon-to-come US Federal Reserve pivot on monetary policy. Optimism, however, faded at the beginning of a quiet week, with US markets closed amid the Martin L. King holiday. The Greenback managed to recover ahead of the daily close but ended the day with modest gains against most major rivals, and it is still at risk of falling.

The main focus was on Japan Government Bonds (JGBs) as the yield on the 10-year note surged to 0.52%, pushing the upper end of the BoJ’s range. The Bank of Japan is having a monetary policy meeting this week, and raising yields spurred speculation policymakers will finally introduce a shift in their monetary policy. Governor Haruhiko Kuroda’s term ends next April, and speculative interest believes he will introduce changes to the ultra-loose policy before leaving. BoJ Deputy Chief Masayoshi Amamiya is the leading candidate for the next governor.

The Bank of Canada Consumer Survey showed that expectations for 1-year ahead inflation increased to a record 7.18% from 7.11% in the third quarter, while 2-year ahead inflation expectations fell to 5.14% from 5.22% in the third quarter.

The EUR/USD pair hovers around 1.0815, while GBP/USD trades a handful of pips below the 1.2200 mark. The AUD/USD pair briefly traded above the 0.7000 mark but settled at around 0.6950, while USD/CAD seesaws around 1.3400. The USD/JPY pair recovered from a fresh multi-month low of 127.21 and currently stands at 128.50.

Gold retains the $1,900 mark, now consolidating at $1,914, while Crude Oil Prices edged lower, and WTI settled at $79.12 a barrel.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Don’t miss the ship from fear of wet feet

  


Like this article? Help us with some feedback by answering this survey:

This article was originally published by Fxstreet.com.Read the original article here.

LEAVE A REPLY

Please enter your comment!
Please enter your name here