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.

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