North American Summary and Highlights 27 Jan
Overview - The USD continued to fall, before and after a weak US consumer confidence report with late Trump comments extending the move.
European and North American sessions
Steep USD losses continued, both before and after a fall in US consumer confidence to 84.5 in January from 94.2 in December, reaching its weakest level since May 2014. Late in the day Trump signaled he was unconcerned about the USD’s slide, and a further sharp break lower was seen.
After a modest correction in Asia USD/JPY resumed its slide, falling over two big figures to near 152.50, and breaking below on Trump’s comments. EUR/USD saw a sustained move above 1.19 and broke through 1.20 on Trump’s comments. GBP/USD broke above 1.38 even with EUR/GBP rising above .8690 from .8675. EUR/CHF was however significantly lower at .9175 from .9230. AUD/USD saw a late break above .70 after Trump spoke while USD/CAD moved back below 1.36, which had already been briefly achieved earlier in the session.