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DXY: The dollar slumped versus its major peers as President-elect Donald Trump's press briefing failed to provide clarity on his future fiscal policies. The greenback against a basket of currencies traded 0.7 percent down at 101.04, having hit a low of 100.81 earlier in the session, its lowest since Dec. 14. FxWirePro's Hourly Dollar Strength Index stood at -81.56 (Slightly Bearish) by 1100 GMT.
EUR/USD: The euro rose to a fresh 4-week high amid broad-based U.S. dollar weakness triggered by President-elect Donald Trump’s press conference. Moreover, upbeat German Q4 GDP data and better-than-expected Eurozone's industrial production figures kept the bid tone around the major intact. The European currency trades 0.4 percent higher at 1.0623, hovering towards a peak of 1.0664 hit earlier in the session, its highest since Dec 14. FxWirePro's Hourly Euro Strength Index stood at -25.13 (Neutral) by 1000 GMT. Any break above 1.0670 (61.8% retracement of 1.08735 and 1.03422) will take the pair to next level till 1.0745/1.0870. It should break below 1.0450 for further weakness, while the minor support is around 1.0580/1.0550.
USD/JPY: The dollar shed over 1 percent to hit a fresh 1-month low below the 114.00 handle, as a renewed bout of risk aversion fueled by Trump's presser weighed on market sentiment. However, the major is seen making a minor recovery on the back of easing risk-off sentiment as renewed buying across the commodities’ sector and a rebound seen in the U.S. treasury yields dented the demand for the safe-haven yen. The major trades 0.9 percent lower at 114.30, having hit a low of 113.75 earlier in the day, its lowest since Dec. 8. FxWirePro's Hourly Yen Strength Index stood at 71.74 (Bullish) by 1000 GMT. The major resistance is around 115.40 (30- day EMA) and any break above will take the pair till 116.75 (61.8% retracement of 118.61 and 113.75)/117.53 (Jan 9 High)/118. On the lower side, minor support is around 113.10 (Dec 12 Low) and any break below targets 112.85/112.
GBP/USD: Sterling rose above the 1.2300 handle, as the dollar weakened after President-elect Donald Trump's failed to provide details on spending plans in his first news conference since his election victory. The major hit 3-month lows on Wednesday as political uncertainties weighed on the pound, however, it rallied to a high of 1.2316 earlier in the day, its strongest since Jan. 6. Sterling trades 0.4 percent up at 1.2260, pulling further away from a low of 1.2037 hit in the previous session, its lowest since Oct. 7. FxWirePro's Hourly Sterling Strength Index stood at -128.12 (Highly Bearish) by 1000 GMT. The upside remains capped by 1.2320 and any break above will take the pair till 1.2365/1.2435. Any close above 1.2450 will take the pair to next level till 1.2510/1.2550 (61.8% retracement of 1.27747 and 1.22005). On the lower side, short term support stands at 1.2000 and any break below will drag the pair down till 1.19048 Brexit low. Against the euro, the pound trades flat at 86.68 pence, having touched a low of 87.63 on Tuesday, its weakest since Nov. 10.
USD/CHF: The Swiss franc rose to a 2-week high, as the dollar eased across the board after Trump's presser failed to offer details on his plans to strengthen fiscal spending and cut taxes. The dollar trades 0.6 percent down at 1.0080, having touched a low of 1.0060, its lowest since Dec. 30. FxWirePro's Hourly Swiss Franc Strength Index stood at 17.05 (Neutral) by 1000 GMT. Any break below 1.0050 level will drag the pair down till 1/0.9909/0.9840 (200- day MA). On the higher side, a break above 1.010 (60-day EMA) will take it to next level till 1.0145/1.0200/1.0250 (Jan 11 High).
AUD/USD: The Australian dollar rallied to a fresh 4-week high above the 0.7500 handle, extending gains for the fourth consecutive session, as lack of stimulus plans from President-elect Donald Trump triggered broad-based U.S. dollar selling. Moreover, positive sentiment surrounding commodity prices strengthened the bid tone around the major. The Aussie trades 0.8 percent up at 0.7498, having hit an early high of 0.7515, it’s highest since Dec. 14. FxWirePro's Hourly Aussie Strength Index stood at 81.86 (Slightly Bullish) by 1100 GMT. On the higher side, any close above 0.7500 (200- day MA) will take the pair to next level till 0.7545 (61.8% retracement of 0.7778 and 0.71599)/0.7600. The minor support is around 0.7400 (60-day EMA) and a break below will drag the pair till 0.7330 (30- day EMA)/0.72929 (61.8% retracement of 0.71599 and 0.75153.
NZD/USD: The New Zealand dollar advanced to a fresh 4-week high above the 0.7100 handle, as the U.S. dollar was sold across the board, in wake of disappointment from Trump's first news conference. The Kiwi trades 0.8 percent up at 0.7114, having hit a high of 0.7133 earlier in the day, it’s strongest since Dec. 15. FxWirePro's Hourly Kiwi Strength Index was at 44.42 (Neutral) by 1100 GMT. Immediate resistance is located at 0.7150, a break above could take it till 0.7200. On the downside, support is seen at 0.7024 (5-DMA), a break below could drag it lower 0.7000.
Equities Recap
European shares declined in early trade, dragged lower by healthcare stocks after U.S. President-elect Donald Trump aimed pharmaceuticals' drug pricing in a press briefing.
The pan-European STOXX 600 index decreased 0.5 percent to 363.14 points, while the FTSEurofirst 300 index tumbled 0.5 percent to 1,436.05 points.
Britain's FTSE 100 trades 0.3 percent down at 7,270.56 points, while mid-cap FTSE 250 eased 0.6 percent at 18,284.58 points.
Germany's DAX shed 0.6 percent at 11,576.87 points; France's CAC 40 trades 0.4 percent lower at 4,865.59 points.
Tokyo's Nikkei dropped 1.19 percent to 19,134.70 points, Australia's S&P/ASX 200 index fell 0.08 percent to 5,767.00 points and South Korea's KOSPI rose 0.58 percent to 2,087.14 points.
Shanghai composite index tumbled 0.6 percent at 3,119.29 points, while CSI300 index declined 0.5 percent at 3,317.62 points. Hong Kong’s Hang Seng shed 0.5 percent at 22,829.02 points.
Commodities Recap
Crude oil prices rose, extending previous session gains, helped by signs that OPEC was initiating to cut output and expectations of robust demand growth in China, however, increasing U.S. crude inventories limited upside. International benchmark Brent crude was trading 0.42 percent higher at $55.45 per barrel by 0949 GMT, having touched a low of $53.57 on Wednesday, its lowest since Dec. 15. U.S. West Texas Intermediate crude rose 0.1 percent at $52.41 a barrel, after falling as low as $50.69 in the previous session.
Gold prices rose more than 1 percent to hit a 7-week high, strengthened by a weaker greenback after U.S. President-elect Donald Trump failed to provide clarity on future fiscal policies. Spot gold was up 1.1 percent at $1,204.83 per ounce, after touching a high of $1,206.83, its best since Nov. 23. U.S. gold futures rose 0.1 percent to $1,197.80 per ounce.
Treasuries Recap
The U.S. Treasuries were pushed higher in the wake of President-elect Trump's first press conference since the November election. The yield on the benchmark 10-year Treasury note fell 4 basis points to 2.32 percent, the super-long 30-year bond yield moved 4 basis points higher to 2.92 percent while the yield on short-term 2-year note jumped around 2 basis points to 1.16 percent.
The UK gilts trended higher ahead of the 10-year auction scheduled later in the day. Also, investors are now looking forward to a host of speeches from the Federal Open Market Committee (FOMC) members post market hours. The yield on the benchmark 10-year gilts, fell 4-1/2 basis points to 1.30 percent, the super-long 30-year bond yield also plunged 3-1/2 basis points to 1.96 percent and the yield on short-term 2-year slid 1/2 basis point to 0.17 percent.
The German bund yields slumped after uncertainty hovered around United States’ fiscal policies post the speech of the President-elect Donald Trump at his first news conference on Wednesday. The yield on the benchmark 10-year bonds, fell 2-1/2 basis points to 0.22 percent, the long-term 30-year bond yield also plunged 4 basis points to 0.98 percent and the yield on short-term 2-year bond barely slid 1 basis point to -0.71 percent.
The yields on 10-year Japanese government bonds fell, following softness in benchmark equity index, which plunged to near 2-week low, following lack of clarity by the United States President-elect Donald Trump in his news conference held on Wednesday. The benchmark 10-year bond yield, fell 1/2 basis point to 0.05 percent, the long-term 30-year bond yields dipped over 1 basis point to 0.75 percent while the yield on short-term 2-year note rose 2 basis points to -0.22 percent.
The New Zealand 10-year bond yields plunged to almost 1-1/2 month low, while the medium-term 5-year bond yields hit lowest in over five weeks, following a recovery in the global debt market. In intraday trading, the yield on the benchmark 10-year bond, cracked 10 basis points to 3.12 percent, the yield on 7-year note plunged nearly 7 basis points to 2.79 percent and the yield on the short-term 2-year note slid 4-1/2 basis points to 2.20 percent.
The Australian 10-year bond yields slumped to over 6-week low, tracking firmness in U.S. Treasuries amid a lack of clarity by the United States President-elect Donald Trump in his press conference on Wednesday. In intraday trading, the 10-yield on the benchmark 10-year Treasury note, fell more than 6 basis points to 2.68 percent, the yield on 15-year note plunged 10 basis points to 3.11 percent and the yield on short-term 2-year moved down 5 basis points to 1.83 percent.
