Here's what you need to know to trade today Monday, January 8:
Investors appear to have taken a cautious stance at the start of the new week. The DXY Dollar Index is stable near 102.50 after breaking a three-week losing streak and US stock index futures are trading in negative territory. On the European economic agenda, data from retail sales of November, along with the figures of the business and consumer sentiment from December.
The dollar gained strength on Friday in immediate reaction to December jobs data, but the underlying details of the report made it difficult for the currency to maintain its bullish momentum into the new week. Non-farm payrolls (NFP) increased by 216,000, far exceeding market expectations of 170,000, and the unemployment rate remained stable at 3.7%. However, the US Bureau of Labor Statistics announced downward revisions to the NFP figures for November and October, while the labor force participation rate fell to 62.5% from 62.8% in December. The 10-year US Treasury bond yield stabilized above 4% following the labor market data and the DXY Dollar Index ended up gaining 1% in the previous week.
Quote of the US dollar in the last 7 days
The following table shows the percentage change of the United States Dollar (USD) against major currencies in the last 7 days.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 1.03% | 0.16% | 0.88% | 1.56% | 2.25% | 1.22% | 1.22% | |
| EUR | -0.88% | -0.70% | 0.00% | 0.69% | 1.24% | 0.35% | 0.29% | |
| GBP | -0.18% | 0.70% | 0.72% | 1.39% | 2.16% | 1.03% | 1.00% | |
| CAD | -0.89% | -0.03% | -0.54% | 0.66% | 1.35% | 0.34% | 0.29% | |
| AUD | -1.58% | -0.69% | -1.40% | -0.70% | 0.52% | -0.34% | -0.39% | |
| JPY | -2.28% | -1.24% | -2.05% | -1.18% | -0.50% | -0.89% | -1.10% | |
| NZD | -1.25% | -0.35% | -1.06% | -0.36% | 0.34% | 0.86% | -0.01% | |
| CHF | -1.22% | -0.33% | -1.04% | -0.31% | 0.37% | 1.02% | 0.08% |
The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the euro in the left column and scroll down the horizontal line to the Japanese yen, the percentage change that appears in the box will represent EUR (base)/JPY (quote).
Asia's major stock indices began the new week under bearish pressure. The news that the Chinese wealth manager Zhongzhi Enterprise Group had filed for bankruptcy protection after failing to repay its debt late on Friday revived fears that the real estate crisis would impact broader financial conditions. Hong Kong's Hang Seng Index fell more than 2% and the Shanghai Composite lost 1% on Monday.
After fluctuating wildly during the American session on Friday, the pair EUR/USD it stabilized near 1.0950 and recorded small losses for the week. The pair remains relatively calm early on Monday and fluctuates around weekly closing levels.
He GBP/USD It closed the previous week virtually unchanged and entered a consolidation phase slightly above 1.2700 early on Monday.
He USD/JPY rebounded to a multi-week high of 146.00 on Friday, but erased its daily gains during the American session. The pair remains lower early on Monday and is trading in negative territory below 144.50. In the Asian session on Tuesday, the data for the Tokyo Consumer Price Index (CPI) corresponding to the month of December.
The price of Gold fell below $2,030, as US yields rebounded in immediate reaction to Friday's US jobs report. XAU/USD, however, regained its traction and closed the week near $2,050. Early on Monday, the price of Gold remains under downward pressure and is trading below $2,040.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
