Market Overview

ForexLive US Wrap: EUR/JPY Consolidates Explosive Rally After LTRO Repays

EUR 137 bln in LTROs to be repaid January 30
Canadian CPI tumbles 0.6% in December m/m; up 1.1% y/y
US new home sales fall 7.3% in December; rise 19.9% in 2012
SNB's Jordan: Franc to continue to weaken; still highly valued
Canada's Flaherty: Expects upward pressure on CAD over time
Fitch cuts Cyprus to B, outlook negative

EUR/JPY added to gains today and each of the components did their share. News that Euro zone banks are to pay back roughly 15% of their LTRO borrowings lifted spirits, showing confidence from the EU banking sector and marginally tightening money supply.

EUR/CHF firmed in it range on comments from SNB president Jordan but held below 1.2500.

AUD traded very poorly as unwinding of EUR/AUD shorts continues to impact Aussie quite negatively.

Soft CAD CPI saw the buck rally to 1.01 before ending at 1.0070.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Econ #s Economics Markets Trading Ideas

 

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