U.S. Fed's Daly moderate, Schmid hawkish

January 15, 2026 7:22 PM UTC

Both Daly and Schmid note that recent activity data has been resilient and inflation softer, but neither is in a hurry to ease, with Schmid clearly hawkish.

Chart USD/CAD Update: Consolidating - studies improving

January 15, 2026 5:06 PM UTC

Cautious trade has given way to a test of resistance at 1.3900/20

Preview: Due January 16 - U.S. December Industrial Production - Utilities to rise, manufacturing to slip

January 15, 2026 4:11 PM UTC

We expect a 0.1% increase in December industrial production, with the rise coming fully in the weather-sensitive utilities sector. We expect a 0.2% decline in manufacturing.

Preview: Due January 23 - U.S. January S and P PMIs - Rebounding after December dips

January 15, 2026 4:00 PM UTC

We expect some improvement in January’s S and P PMIs, largely reversing slippage in December, manufacturing to 52.5 from 51.8  and services to 54.0 from 52.5.

Chart USD/JPY Update: Consolidating - studies improving

January 15, 2026 2:15 PM UTC

Cautious trade around 158.25 has given way to a bounce

U.S. Initial Claims low, Philly Fed and Empire State surveys stronger at the start of 2026

January 15, 2026 2:09 PM UTC

The latest US data suggests a stronger start to 2026, with initial jobless claims very low at 198k from 207k in a week not including a holiday and is thus less prone to a surprise, and also positive manufacturing surveys from the Empire State at 7.7 and the Philly Fed at 12.6, both contrasting negat

USD flows: USD buoyed by solid data

January 15, 2026 2:09 PM UTC

USD continues to gain on solid US data

Chart EUR/CAD Update: Consolidating - studies under pressure

January 15, 2026 12:00 PM UTC

Still little change, as prices extend cautious/choppy trade within the 1.6150 - 1.6200 range

FX Daily Strategy: N America, January 15th

January 15, 2026 10:00 AM UTC

JPY may get a brief reprieve but intervention still likely to be needed
GBP downside risks on GDP
USD firm and unlikely to be derailed by data

Chart USD/CHF Update: Consolidating - studies edging higher

January 15, 2026 9:27 AM UTC

Little change, as prices extend choppy trade above congestion support at 0.8000

Chart USD Index DXY Update: Consolidating - room for a test higher

January 15, 2026 9:11 AM UTC

The anticipated test below congestion support at 99.00 has bounced from 98.95~

Chart EUR/USD Update: Sentiment turning down

January 15, 2026 8:36 AM UTC

Cautious trade has given way to a drift lower

Chart GBP/USD Update: Cautious trade - studies leaning lower

January 15, 2026 8:28 AM UTC

Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation around 1.3440

GBP flows: GBP up on stronger than expected GDP

January 15, 2026 7:41 AM UTC

GBP up modestly after stronger than expected November GDP

USD/JPY flows: One way traffic

January 15, 2026 5:54 AM UTC

BOJ Ueda reiterates sustained wage–price cycle, signals further rate hikes if forecasts hold
Bessent warns on excessive FX volatility in talks with Japan, urges sound communication

FX Daily Strategy: Europe, January 15th

January 15, 2026 5:44 AM UTC

JPY may get a brief reprieve but intervention still likely to be needed
GBP downside risks on GDP
USD firm and unlikely to be derailed by data

AUD/USD flows: Metal falls

January 15, 2026 3:33 AM UTC

Trump says he spoke with Venezuela’s interim president on oil, minerals and security

Chart GBP/USD Update: Extend consolidation within 1.3500/1.3400 range

January 15, 2026 1:22 AM UTC

Little change, as prices extend consolidation above the 1.3400/1.3390 support

Chart EUR/USD Update: Consolidating, but room for lower

January 15, 2026 1:14 AM UTC

Extend consolidation above support at the 1.1615/00 area but pressure remains on the downside

Chart USD/JPY Update: Consolidating gains to fresh high at 159.45

January 15, 2026 12:49 AM UTC

Break above the 2025 year high at 158.88 reached fresh high at 159.45 before giving way to selling pressure