The US dollar is trading broadly stronger against peers as market sentiment is risk-off. Traders are anticipating the upcoming central bank meetings for the US, England, and the Eurozone later this week. The global spread of the Omicron virus is also pushing investors towards safe haven assets.
Weekly economic data
Wednesday: FOMC Rate Decision, UK CPI, US Retail Sales
Thursday: Bank of England Bank Rate, US initial Jobless Claims, ECB Main Refinancing Rate
December 13, 2021
EUR/USD 1.1289 GBP/USD 1.3266 USD/CAD 1.2776 AUD/USD 0.7137 USD/JPY 113.57 USD/CNH 6.3729 USD/ILS 3.1066 USD/MXN 20.8910 USD/CHF 0.9223 USD/INR 75.7637 USD/BRL 5.6388 USD/SGD 1.3672 USD/DKK 6.5870 USD/SEK 9.0636 USD/NOK 8.9970
USDThe US dollar rallied, erasing losses from Friday’s trading session ahead of a busy week for central bank meetings. Investors are focused on the FOMC’s meeting on Wednesday speculating that officials may speed up the pace of policy normalization.GBPSterling is trading slightly lower after strengthening the last two sessions. The market is anticipating that the Bank of England will push back its first rate increase since the pandemic into 2022 prioritizing caution with COVID over inflation worries.EUR
EUR/USD is trading lower holding below the 1.13 handle.CADThe Canadian dollar weakened against a broadly higher US dollar. WTI crude prices are trading almost 1% lower putting additional downward pressure on the loonie.ASIA/PACIFICUSD/JPY is trading higher amidst broad US dollar strength. Australian bonds strengthened for a second day as markets move towards safe haven assets amidst the global spread of the Omicron variant.
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