Forex Flash: EUR/USD has tendency to fall in January over last 20y sample - Nomura (Barcelona) - Over the past 20 years, the S&P500 does seem to show a positive correlation in the first week of January and the rest of the year, says Saeed Amen, Nomra FX strategist. Furthermore, "the S&P500 tends to rally in the first few days of the year, although after that, price action is more mixed in our sample" he adds.

In EUR/USD, "it is very difficult to read anything into how spot performs in the first week and during the rest of the year" the analyst notes. Mr. Amen notes though that EUR/USD "has a tendency to fall in January, a behaviour which has been relatively consistent across the past decades in our sample."