Risk-off mood supported the Dollar – Crypto News – Crypto News
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The 111.00 level is just around the corner The 111.00 level is just around the corner

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Risk-off mood supported the Dollar – Crypto News

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Fresh demand for the greenback put the risk-linked universe under extra downside pressure against the backdrop of rising cautiousness prior to the publication of US inflation figures measured by the CPI. Moving forward, inflation prints in Australia will gather all the attention early in the session, while BoE Governor A. Bailey is due to speak in the European afternoon.

Here is what you need to know on Wednesday, January 10:

Fresh demand for the greenback supported a marked bounce in the US Dollar Index (DXY) to the 102.70 zone, or two-day highs, despite the directionless stance in US yields across the curve.

In the US, equities tracked by the Dow Jones and the S&P 500 reversed the promising start of the week on the back of rising prudence ahead of key US data releases.

EUR/USD remained on the defensive and briefly approached the proximity of the 1.0900 key support amidst the resumption of the buying interest in the dollar and the safe haven space.

GBP/USD followed the rest of its risky peers and broke below the 1.2700 yardstick, eroding Monday’s gains and halting a four-day positive streak at the same time.

The robust move higher in the greenback motivated USD/JPY to leave behind two consecutive sessions of losses and print a decent advance beyond the key barrier at 144.00 amidst inconclusive developments in US yields and the downtick in JGB 10-year yields.

AUD/USD resumed the decline and retreated markedly to the 0.6680/75 band on Tuesday, setting aside two straight days of slight gains ahead of the release of key inflation data in Oz.

Extra gains in the greenback pushed USD/CAD to fresh four-week tops north of 1.3400 the figure. Poor results from the Canadian trade balance and building permits also kept the selling pressure well and sound around CAD.

Gold closed Tuesday’s session around the previous day’s closing levels near $2030 per troy ounce on the back of the intense demand for the greenback and the vacillating mood in the US money markets. By the same token, silver prices added to the negative start of the week and challenged the key $23.00 mark once again.

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