Jan 12, 2020
Forex Today: Dollar under mild-pressure amid poor employment figures
Here is what you need to know on Monday, January 13th:
- Quiet weekend, for a change with no big political events.
- The USD lost some ground on Friday amid softer-than-expected employment data, which provided a reason to take some profits out of the table ahead of the weekend.
- EUR/USD settled above 1.1100, but lacks bullish momentum, hovering below a critical resistance at around 1.1135.
- The Pound remained subdued, unable to recover amid the Bank of England Governor, Mark Carney, hinting a rate cut. During the weekend, BOE’s member, Gertjan Vlieghe, said that he would vote in favour of a looser monetary policy when the Monetary Policy Committee meets later this month.
- The USD/JPY flirted with December high, holding nearby despite easing demand for high-yielding assets.
- Crude oil prices remain mute after last week’s turmoil, with WTI trading below $60.00 a barrel.
- Cryptocurrencies were down on Saturday but recovered on Sunday. Thin volumes exacerbated the moves.