The United States Dollar is once again trading in fairly muted territory this morning as FX flows around the world remain thin and some major markets remain closed.
Overview
The Bloomberg Dollar Spot Index is fairly flat on the morning with a slight downside tinge, but is still set to close the week a touch stronger than at Monday’s open. All told, the Dollar is just a few days away from wrapping its best annual performance in nine years barring any major surprises next week.
There is very little domestic news to drive pricing today, with the exception of minor data points of wholesale and retail inventories for November. Wholesale inventories declined my 0.2%, but retail inventories ticked up slightly to 0.3%, on expectations. News from other nations is impacting pricing to some extent, but there is little movement in USD outside of specific pairs. Japanese Yen is advancing for the first time this week after inflation rose more than expected last month, and the Bank of Japan once again warned against speculative FX trading to stem the currency’s heavy losses in December so far. South Korean interim President Han Duck-soo was impeached by Parliament after he refused to confirm three judges to the nation’s highest court, continuing the country’s recent political woes. German President Frank-Walter Steinmeier also dissolved Parliament and set a snap election for February 23rd, following the dissolution of Chancellor Olaf Scholz’s ruling coalition last month.
Monex USA is open with normal business hours today.
What to Watch This Week…
- No major data releases this week
- Monex USA Online is always open
