Peter showed his technical view of the DXY peaking by year end above 100 with possible extensions to 101.36. Peter is looking for a major revival of Commodity markets as the Dollar begins a major decline to the .50 level.
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AUD/USD holds the bounce toward 0.6250 after China's Caixin Services PMI
AUD/USD sustains the rebound toward 0.6250 in the Asian session on Monday after China's Caixin Services PMI beat estimates with 52.2 in December. China's stimulus optimism and a subdued US Dollar offset increased bets for early RBA rate cuts, reviving the demand for the Aussie.
USD/JPY: Upside remains capped below 158.00 amid cautious mood
USD/JPY is consolidating the upside below 158.00 in Asian trading on Monday. The pair feels the heat from a cautious risk tone and a broadly subdued US Dollar but the divergent Fed-BoJ policy expectatations help keep it afloat in the Nonfarm Payrolls week.
Gold inches higher toward $2,650 as traders await fresh catalysts
Gold price looks to gain ground near $2,640 in the Asian trading hours on Monday as the US Dollar struggles to hold onto the US ISM Manufacturing PMI-led upside. China's stimulus hopes and a softer risk tone underpins the bright metal. All eyes remain on geopolitics and Fedspeak for fresh impetus.
Canadian Dollar jumps as PM Trudeau set to announce resignation
Citing three sources, a Canadian news outlet, The Globe and Mail, reported on Sunday that Prime Minister Justin Trudeau will likely announce as early as Monday that he will resign as Liberal Party Leader.
Week ahead – US NFP to test the markets, Eurozone CPI data also in focus
King Dollar flexes its muscles ahead of Friday’s NFP. Eurozone flash CPI numbers awaited as euro bleeds. Canada’s jobs data to impact bets of a January BoC cut. Australia’s CPI and Japan’s wages also on tap.
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