Forex Today: US Dollar stabilizes ahead of US NFP
United States (US) ADP reported that, on average, the private sector added 6.5K new jobs in the four weeks ending January 24, up from 5K in the previous week. Other than that, Retail Sales remained unchanged in December, below expectations for a 0.4% increase and below November’s 0.6% advance.

Here is what you need to know for Wednesday, February 11:

United States (US) ADP reported that, on average, the private sector added 6.5K new jobs in the four weeks ending January 24, up from 5K in the previous week. Other than that, Retail Sales remained unchanged in December, below expectations for a 0.4% increase and below November’s 0.6% advance.

The US Dollar Index (DXY) is trading near the 96.80 price region, recovering a part of its intraday losses as financial markets await the release of the January Nonfarm Payrolls (NFP) on Wednesday and the January Consumer Price Index (CPI) on Friday.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the British Pound.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.20% 0.37% -0.87% -0.06% 0.30% 0.21% 0.26%
EUR -0.20% 0.18% -1.05% -0.25% 0.11% 0.00% 0.07%
GBP -0.37% -0.18% -1.22% -0.42% -0.07% -0.17% -0.11%
JPY 0.87% 1.05% 1.22% 0.81% 1.17% 1.06% 1.13%
CAD 0.06% 0.25% 0.42% -0.81% 0.35% 0.26% 0.33%
AUD -0.30% -0.11% 0.07% -1.17% -0.35% -0.10% -0.03%
NZD -0.21% -0.00% 0.17% -1.06% -0.26% 0.10% 0.06%
CHF -0.26% -0.07% 0.11% -1.13% -0.33% 0.03% -0.06%

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).

GBP/USD is trading near the 1.3650 level, sliding after markets assessed the Bank of England (BoE)’s dovish hold, already pricing in a 50bps rate cut before the year-end.

EUR/USD is trading close to the 1.1890 price zone, trimming back its intraday gains, andi staying in a neutral zone. Additionally, the pair is awaiting Friday’s Eurozone flash Gross Domestic Product (GDP).

AUD/USD is trading near the 0.7070 level, with little movement throughout the day.

USD/JPY falls to the 154.50 price zone, a weekly low, after markets assessed the Japanese General Elections held on Sunday, which favored the current Prime Minister Sanae Takaichi.

Gold is little changed, trading around $5,010 as geopolitical tensions appear to have eased.

What’s next in the docket:

Wednesday 11:

  • China January Consumer Price Index (CPI).
  • US January Nonfarm Payrolls.

Thursday 12:

  • UK flash Gross Domestic Product (GDP) (Q4).

Friday 13:

  • RBNZ Inflation Expectations (Q1).
  • Swiss January CPI.
  • Eurozone flash GDP (Q4).
  • US January CPI.

Gold FAQs

Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

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實時報價

名稱 / 代碼
圖表
漲跌幅 / 價格
GBPUSD
1日漲跌幅
+0%
0
EURUSD
1日漲跌幅
+0%
0
USDJPY
1日漲跌幅
+0%
0

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