US dollar remains largely unchanged, commodity currencies supported by firm oil prices
1/26 Tuesday – UK Jobless Claims
1/27 Wednesday - US FOMC Rate Decision
1/28 Thursday – US New Home Sales
January 25, 2021
EUR/USD 1.2148 GBP/USD 1.3680 USD/CAD 1.2718 AUD/USD 0.7726 USD/JPY 103.77 USD/CNH 6.4905 USD/ILS 3.2740 USD/MXN 20.0250 USD/CHF 0.8871 USD/INR 72.9550
The dollar index was little changed after dropping as much as 0.2% during the Asian trading session. The Federal Reserve meeting this week will be a main risk event for the currency markets. Investors are anticipating a continued dovish stance.GBP
Sterling is hovering near its overnight low at $1.3666. A bright spot for the UK is the efficiency of the vaccine roll-out compared to the EU. Britain has vaccinated around five times as many people as the EU proportionate to its population. Sterling reached an eighth month high vs. the euro over the last week.EUR
The euro was one of the worst performing G10 currencies as concern over the pace of the vaccine roll-out continues to weigh on the common currency. Data released out of Germany showed worse-than-expected IFO figures.CADThe loonie held a slight gain versus the greenback as it strengthened alongside oil prices. WTI rose 1% before normalizing as traders assess the impact of supply cuts from Iraq and Libya.ASIA/PACIFIC
AUD/USD is trading higher following relaxed restrictions in some of Australian states including its most populous state, New South Wales, which reported no new virus cases for an eighth day.
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