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January 13, 2025
FX Weekly Strategy: January 13th-17th
January 13, 2025 9:46 AM UTC
Hard for USD/JPY to extend higher from current levels
US equities and yields struggling to rise further in concert
EUR/USD downside also limited as yield spreads move in EUR’s favour
GBP has more potential downside with expectations of BoE cuts too conservative
FX Weekly Strategy: Europe, January 13th-17th
January 13, 2025 4:00 AM UTC
Hard for USD/JPY to extend higher from current levels
US equities and yields struggling to rise further in concert
EUR/USD downside also limited as yield spreads move in EUR’s favour
GBP has more potential downside with expectations of BoE cuts too conservative
Asia Open - Overnight Highlights
January 13, 2025 12:00 AM UTC
EMERGING ASIA
EM currencies perform individually against the USD as the USD only rebound fiercely after the stronger than expected U.S. NFP. The biggest winners are PHP by 0.24%, THB 0.14%, MYR 0.12% and IDR by 0.09%; the largest loser are KRW by 0.79%, SGD 0.23%, INR 0.13%, CNH 0.1&, TWD 0.08%, HKD
January 12, 2025
FX Weekly Strategy: Asia, January 13th-17th
January 12, 2025 10:00 PM UTC
Hard for USD/JPY to extend higher from current levels
US equities and yields struggling to rise further in concert
EUR/USD downside also limited as yield spreads move in EUR’s favour
GBP has more potential downside with expectations of BoE cuts too conservative
FX Weekly Strategy: APAC, January 13th-17th
January 12, 2025 6:00 PM UTC
Hard for USD/JPY to extend higher from current levels
US equities and yields struggling to rise further in concert
EUR/USD downside also limited as yield spreads move in EUR’s favour
GBP has more potential downside with expectations of BoE cuts too conservative
January 10, 2025
Preview: Due January 17 - U.S. December Industrial Production - Bounce in aircraft to lead rise
January 10, 2025 5:32 PM UTC
We expect gains of 0.5% in both industrial production and manufacturing output in December, likely to be led by a rebound in aircraft after three straight declines caused by a strike at Boeing. The strike as resolved in early November but output failed to recover in that month, making a bounce due.
FX Weekly Strategy: January 13th-17th
January 10, 2025 4:51 PM UTC
Hard for USD/JPY to extend higher from current levels
US equities and yields struggling to rise further in concert
EUR/USD downside also limited as yield spreads move in EUR’s favour
GBP has more potential downside with expectations of BoE cuts too conservative
Preview: Due January 17 - U.S. December Housing Starts and Permits - Picture near flat, may weaken in 2025
January 10, 2025 4:51 PM UTC
We expect December housing starts to rise by 4.0% to 1.34m while permits fall by 3.5% to 1.44m. The starts rise will be following three straight declines while the permits fall will be correcting a 5.2% November increase. The underlying picture looks fairly flat.
U.S. January Michigan CSI - Worrying jump in inflation expectations
January 10, 2025 3:13 PM UTC
January’s preliminary Michigan CSI of 73.2 is slightly down from December’s 74.0 and maintains December’s mix of rising current conditions and falling expectations. Most significantly, expectations for inflation have seen a significant bounce which will worry the FOMC.
Canada December Employment - Strong job growth but again flattered by the public sector
January 10, 2025 2:26 PM UTC
Canada has followed a healthy 50.5k increase in November employment with a substantially stronger 90.9k increase in December, though the acceleration in full time work to 57.5k from 54.2k was marginal. While some of the detail is less impressive, the data suggests the economy is gaining momentum, as