As the fresh week commences, the buck is still seeing considerable outflows, which has allowed the EURUSD pair to rise back above the $1.09 level for the first time since April 2022. The pound has also taken advantage of the weakness, establishing itself above $1.24 during Asian trading hours.
The week ahead sees a light economic calendar compared to previous weeks. There’s one central bank decision that comes from the Bank of Canada. On the data front, the US will see the largest volume of reports released. None of the data points are tier one but could create volatility regardless of their importance.
Earnings reports will be keenly watched with several key tech company releases expected throughout the week.
From a currency perspective, participants will continue monitoring the US dollar. Will the recent trend of USD weakness continue further into 2023.
Have a good week.
Written by Viv Savani. 8:20am, January 23rd 2023
The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill International Payments limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.