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Forex news for North American trading on January 23, 2019:
- Gold down $2 to $1283
- WTI crude down 41-cents to $52.59
- S&P 500 up 6 points to 2638
- US 10-year yields up 1 bps to 2.75%
- GBP leads, JPY lags
GBP
was an island of strength throughout the day but the move came almost
entirely before New York arrived and it chopped sideways near 1.3070 for
the final few hours of trading. Meanwhile, the rest of the market went
for a ride. The early theme of US dollar strength reversed after USD/JPY
hit 110.00 in a quick slide to 109.40.
It was
similar elsewhere as the dollar hit the best levels of the day early
only to skid. That helped the euro to 1.1394 at the highs before it
sagged a dozen pips lower late.
USD/CAD jumped
after the soft Canadian retail sales report to hit a two week high of
1.3370. From there it was a tug-of-war with the US dollar falling but
oil falling along with it. News of the trouble in Venezuela hasn’t
helped crude, at least so far.
AUD/USD is
finishing near the highs of the day at 0.7142. It’s been up higher a few
times in the past day but hasn’t been able to break through. NZD/USD
has also been unable to break above