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Here is what you need to know on Wednesday, January 8: Following a bearish opening to the week, the US Dollar (USD) gathered strength against its rivals on Tuesday, supported by the upbeat macroeconomic data releases and the cautious market mood. Private sector employment data from the US will be watched closely by market participants on Wednesday. Later in the American session, the Federal Reserve (Fed) will publish the minutes of the December policy meeting. US Dollar PRICE This week The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the weakest against the Canadian Dollar.   USD EUR GBP JPY CAD AUD NZD CHF USD   -0.35% -0.48% 0.51% -0.70% -0.22% -0.34% -0.02% EUR 0.35%   -0.14% 0.80% -0.27% 0.18% 0.06% 0.37% GBP 0.48% 0.14%   0.97% -0.15% 0.32% 0.19% 0.51% JPY -0.51% -0.80% -0.97%   -1.20% -0.70% -0.81% -0.29% CAD 0.70% 0.27% 0.15% 1.20%   0.41% 0.32% 0.66% AUD 0.22% -0.18% -0.32% 0.70% -0.41%   -0.12% 0.19% NZD 0.34% -0.06% -0.19% 0.81% -0.32% 0.12%   0.31% CHF 0.02% -0.37% -0.51% 0.29% -0.66% -0.19% -0.31%   The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote). The data from the US showed on Tuesday that the ISM Services PMI improved to 54.1 in December from 52.1 in November, pointing to an ongoing expansion in the services sector’s activity at an accelerating pace. Additionally, JOLTS Job Openings rose to 8.09 million in November from 7.84…

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Filed under: News - @ January 8, 2025 7:24 am