A rather bare calendar day aheadDeltafx Admin 12 January 2023
The major currencies show little appetite during the day, with the dollar trending marginally weaker so far this week. Yesterday, some caution prevailed as markets awaited Fed Chairman Powell’s remarks, but he ultimately had nothing noteworthy to say.
The bounced off its 100-day moving average to close 0.7% higher. However, do not expect the broader markets to start running just yet. Tomorrow’s data from US CPI remains the most important risk event at the start of the new year, and it may well be that moves ahead will be limited.