“Never let a win go to your head, or a loss to your heart.”
USD
EUR/USD
The Shared currency bubbled up towards $1.1375, backed by less hawkish comments from Fed Chair Jerome Powell on running down the central bank's $9 trillion Balance sheet.
GBP/USD
Sterling climbed to $1.3640, the highest for the month, on U.S. dollar weakness, while the focus will be on U.K. and E.U. talks on Northern Ireland his week.
USD/JPY
The Japanese yen is in stasis at 115.32 versus the greenback amid Bank of Japan Governor Haruhiko Kuroda stated that CPI is likely to increase as a trend gradually, and Japan's economy is stable as a whole despite Omicron.
AUD/USD
The Aussie dollar edged higher to 0.7216 on improved risk appetite as Federal Reserve Chair Jerome Powell brought some relief to financial markets.
USD/CAD
The loonie bolstered to its highest level in nearly two months at 1.2553 against the U.S dollar as the price of oil, one of Canada's major exports, was supported by tight supply and hopes that the spread of the Omicron variant of the coronavirus will not derail a global demand recovery.
USD/ZAR
South African rand strengthened to 15.50 versus the greenback this morning as Fed chairman Jerome Powell stated on Tuesday that it might take two to four meetings to debate reducing its balance sheet, further weakening the dollar.
USD/MUR
The dollar rupee remains idle at 43.55(selling).
14.00 - Industrial Production (EUR)
17.30 - Consumer price index (USD)
Losses in the USDCAD remain capped around 1.2640 against the greenback as oil prices recovers. After having completed a five wave impulse to the upside to 1.2779 ( Hourly chart) on 3rd January this year, we can observe the formation of an expanded flat a-b-c coming to the end around 1.2645. A break below 1.2620 invalidates the bullish count. On the flip side, a break above 1.2656 follows by 1.2740 (previous wave 4) can push the USDCAD for an impulsive wave 3 to the upside.
