[MARKET ANALYSIS] AUD leads gains following strong employment report; DXY pauses as an agreement on Greenland awaits
Importance
Level 1
- DXY consolidates following Wednesday’s gains, briefly dipping below 98.75, as concerns that an agreement over Greenland will not be reached, with NATO’s Rutte stating that a lot of work is to be done.
- EUR/USD nears the 1.1700 handle after falling to a low of 1.1670 early in the session, helped by the recent weakness in the greenback.
- GBP/USD hovers around 1.3430 as the heavy UK data docket this week continues, with PSNB expected later today and retail sales released on Friday.
- USD/JPY oscillates in a 158.18-158.50 band, as markets digest the weaker-than-expected trade data. JPY weakened initially as the Dec. trade balance and exports missed expectations, briefly paring back losses.
- Antipodeans lead gains against their G7 peers, with AUD leading the way following a strong employment report that saw the unemployment rate drop 2bps to 4.1% (exp. 4.4%). Thus far, AUD/USD trades just shy of the 68 handle, at a 15-month high.
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