North American Summary and Highlights 28 January
Overview - After the USD bounce in Asia, trade was quiet in Europe and North America.
North American session
A quiet session saw EUR/USD in a narrow range near 1.0430 with GBP/USD. AUD/USD and USD/CHF all showing a similar lack of direction. USD/JPY did pick up above 155.50 after finding support near 155. USD/CAD saw a dip to 1.4370 from above 1.44 but this was largely reversed.
December US durable goods orders fell 2.2% on aircraft but a 0.3% rise ex transport was in line with consensus. January consumer confidence fell to 104.1 from 109.5 but December was revised up from 104.7. January data saw labor market perceptions deteriorate and inflation expectations firmer.
European morning session
The USD was mixed in a quiet European morning. USD/JPY fell back around 30 pips to 155.45, while EUR/USD lost around 15 pips to 1.0425. AUD and GBP were fairly steady against the USD, and USD/CAD a little higher, while EUR/NOK dropped around 3 figures to 11.76.
There wasn’t much news of note, with no significant data, but equities and bond yields edged back up after the AI tech led decline on Monday.