US data remains in centre stage – Crypto News – Crypto News
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EUR/USD rises as US Dollar dips amid shutdown and weak sentiment data EUR/USD rises as US Dollar dips amid shutdown and weak sentiment data

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US data remains in centre stage – Crypto News

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The US Dollar (USD) traded without a clear direction on Wednesday, losing some momentum following the auspicious start to the new trading year. Moving forward, the Greenback is expected to remain at the centre of the debate ahead of the release of key data that could shape the Fed’s rate path in the upcoming months.

Here’s what to watch on Thursday, January 8:

The US Dollar Index (DXY) alternated gains with losses in the mid-98.00s as investors assessed the mixed results from the US ADP report and the ISM Services PMI. Next on tap will be the usual weekly Initial Jobless Claims, Challenger Job Cuts, Balance of Trade results and the Unit Labor Cost index.

EUR/USD rose slightly, although it remained unable to break above the 1.1700 barrier in a convincing fashion. Factory Orders in Germany are due, seconded by Producer Prices and the Unemployment Rate in the euro bloc as well as the final Consumer Confidence gauge. In addition, the ECB will publish its Consumer Inflation Expectations alongside the speech by VP De Guindos.

GBP/USD dropped markedly, adding to Tuesday’s rejection from multi-week tops near 1.3570. The Halifax House Price index is due, seconded by the BBA Mortgage Rate and the BoE’s Decision Maker Panel survey (DMP).

USD/JPY barely moved, keeping the trade around the 156.70 region following the broader lack of direction in the FX gaalxy. The Average Cash Earnings will gather attention on the Japanese calendar, seconded by weekly Foreign Bond Investment data and the Consumer Confidence gauge.

AUD/USD reversed three daily advances in a row, easing to the 0.6720 zone despite the absence of a clear bias in the Greenback. The Balance of Trade results will be the salient data release Down Under.

WTI prices added to Tuesday’s retracement, deflating below the $56.00 mark per barrel as traders continued to evaluate developments from the US-Venezuela front.

Gold prices came under strong selling pressure, reversing three daily upticks in a row and briefly revisiting the $4,420 zone per troy ounce, or two-day lows. Silver prices gave back part of their recent strong gains, coming close to the $76.00 mark per ounce on Wednesday.

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