Forex Today: Dollar under mild-pressure amid poor employment figures

Here is what you need to know on Monday, January 13th:

  • Quiet weekend, for a change with no big political events.
  • The USD lost some ground on Friday amid softer-than-expected employment data, which provided a reason to take some profits out of the table ahead of the weekend.
  • EUR/USD settled above 1.1100, but lacks bullish momentum, hovering below a critical resistance at around 1.1135.
  • The Pound remained subdued, unable to recover amid the Bank of England Governor, Mark Carney, hinting a rate cut. During the weekend, BOE’s member,  Gertjan Vlieghe, said that he would vote in favour of a looser monetary policy when the Monetary Policy Committee meets later this month.
  • The USD/JPY flirted with December high, holding nearby despite easing demand for high-yielding assets.
  • Crude oil prices remain mute after last week’s turmoil, with WTI trading below $60.00 a barrel.
  • Cryptocurrencies were down on Saturday but recovered on Sunday. Thin volumes exacerbated the moves. 

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