The US dollar index pared some of its after weak US economic data.
US Richmond fed manufacturing index dropped to -15 vs. Expected -8. It hit a low of 103.44 and is currently trading around 103.47.
According to the CME Fed watch tool, the probability of a no-rate cut in Jan decreased to 96.90% from 97.90% a day ago.
The US 10-year yield showed a minor sell-off ahead of US PMI data. The US 10 and 2-year spread narrowed to -21.1% from -53%.
Major resistance- 103.75/105
Major support- 102/101.60.
EURUSD-
EURUSD trades flat ahead of the flash PMI. Euro consumer confidence declined to -16.10 in Jan, compared to a forecast of -14. Traders expect a 130 basis rate cut this year, with a 97% chance of the first rate cut in June.
Major resistance-1.09065,1.1000
Major support- 1.0860,1.0800
Yen-
The yen showed a minor pullback due to the escalation of geo-political tension in the Middle East. "Prospects of higher wages are gradually affecting sales prices, which is leading to a gradual increase in service prices," Ueda told a press conference. Any close above 148.80 confirms further bullishness.
Major Resistance- 148.80,150
Major support- 147.70,146.40
Canadian Dollar
The Canadian dollar trades flat ahead of BOC monetary policy.
Resistance- 1.3500,1.3550
Major support- 1.3430,1.3380


Energy Sector Outlook 2025: AI's Role and Market Dynamics
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
Geopolitical Shocks That Could Reshape Financial Markets in 2025
China’s Growth Faces Structural Challenges Amid Doubts Over Data
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
Global Markets React to Strong U.S. Jobs Data and Rising Yields
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential
China's Refining Industry Faces Major Shakeup Amid Challenges
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close
Wall Street Analysts Weigh in on Latest NFP Data
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data
Bank of America Posts Strong Q4 2024 Results, Shares Rise 



