[MARKET ANALYSIS] DXY lacks direction after its recent choppy performance and as CPI data looms

DXY: Flat

• Struggles for direction following yesterday's two-way price action, in which the DXY ultimately returned to flat territory after early weakness was pared alongside the risk-off mood, while there was little reaction to slightly higher-than-expected Initial Jobless Claims, and participants now await incoming US CPI data.

EUR/USD: Flat

• Trades sideways overnight amid a lack of catalysts and after the latest bout of commentary from ECB officials provided very little to influence the outlook.

GBP/USD: Flat

• Price action is confined to within a tight range following yesterday's indecisive performance in which the pair largely shrugged off the weaker-than-expected preliminary Q4 GDP data.

USD/JPY: +0.3%

• Edged marginally higher following the recent oscillations around the 153.00 level and with little in the way of fresh catalysts or tier-one data from Japan to influence trade.

Antipodeans: AUD/USD Flat / NZD/USD +0.1%

• Conforms to the uneventful trade across the FX space amid the downbeat mood in stocks and partial rebound across the metals complex.