The dollar has been directionally mixed since the FOMC earlier this week, gaining mostly forex factory eur usd forecast for today versus the yen, and the Australian dollar, but losing ground to the main European currencies, including the euro, sterling and Swiss franc. The dollar has also been somewhat mixed against developing-world currencies. 83 after logging a low yesterday at 88.
EUR-USD ebbed by about 40 pips from intraday highs, taking the pair back around 1. The move has been driven by a bid in the dollar as markets trim positions into the U. We expect non-farm payrolls to rise 200k, versus the 148k in December. Hourly earnings are seen up 0. We also forecast perky outcomes in December factory orders, seen rising 1. USD-JPY and yen crosses are on an upside roll as the Japanese currency undergoes a bout of underperformance. USD-JPY has forayed to a one-week high of 109.
75, extending the recovery from last week’s four-month low at 108. EUR-JPY is up sharply, by 0. The pound has continued to hold up overall, losing some ground to the euro but gaining on the dollar and yen, among other currencies. Weaker than expected UK manufacturing PMI data, yesterday, didn’t have much impact, and sterling started the new month on a firm footing after last month posting its biggest monthly gain against the dollar since July 2010.
1600 after clocking a two-month low at 1. 1541 on Monday, which capped the biggest correction the cross has seen since the Swiss franc started to trend lower in mid last year. The move reflects the ECB’s evident disquiet about the extend of the euro’s recent rally, which looks to have had a dampening impact on hawkish voices at the central bank. USD-CAD lifted out of yesterday’s four-month low at 1. 2248, recouping to the lower 1.
The upgraded forecasts from the Fed has given the pairing a yield-differential underpinning, which we think should sustain for now. NAFTA uncertainty also remains in the mix, although with trade negotiations potentially playing out through 2018, the trade pact will likely fade to the backdrop until the next round kicks off in Mexico on February 26. Is the new Paddington Bear 50p coin worth thousands? Does the demise of Poundworld portend gloom for all ‘value’ retailers, or are some chains’ shares a bargain?