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Forex Today: USD surges amid shutdown resolution, mixed US data

Here is what you need to know on Thursday, February 5:

United States (US) ADP Employment Change report revealed that the private sector added 22K jobs in January, falling short of expectations of 48K. Meanwhile, the ISM Services Purchasing Managers’ Index (PMI) for the same month recorded a value of 53.8, matching the previous month's reading and surpassing the expected figure of 53.5.

United States (US) President Donald Trump signed a bill late Tuesday to end the partial government shutdown, providing some immediate relief. He also announced that talks with Iran would take place later this week in Oman regarding the country's internal crisis.

DXY rises and is trading near 97.70 even after the mixed US data. Further details indicate that the Prices Paid Index, an indicator of inflation, increased to 66.6 from the previous 65.1, while the Employment Index declined from 51.7 to 50.3.

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 New Zealand Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD0.18%0.31%0.67%0.27%0.53%0.97%0.18%
EUR-0.18%0.13%0.50%0.10%0.35%0.79%0.00%
GBP-0.31%-0.13%0.36%-0.03%0.22%0.66%-0.12%
JPY-0.67%-0.50%-0.36%-0.39%-0.13%0.30%-0.48%
CAD-0.27%-0.10%0.03%0.39%0.25%0.69%-0.09%
AUD-0.53%-0.35%-0.22%0.13%-0.25%0.44%-0.34%
NZD-0.97%-0.79%-0.66%-0.30%-0.69%-0.44%-0.78%
CHF-0.18%-0.01%0.12%0.48%0.09%0.34%0.78%

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).

AUD/USD is trading near the 0.6970 level, losing all intraday gains as the US Dollar (USD) gains the upper hand. The Reserve Bank of Australia (RBA) raised its interest rate and struck a hawkish tone on policy outlook on Tuesday.

EUR/USD is trading near the 1.1800 price zone, seeing little movement as the Harmonized Index of Consumer Prices (HICP) flash data for January was released at 1.7%, lower than the 1.9% expected. Additionally, the European Central Bank (ECB) will announce its monetary policy decision on Thursday, with interest rates expected to remain on hold.

USD/CAD is trading near the 1.3680 price zone, having a little surge amid USD strength.

GBP/USD is trading near the 1.3640 price zone, seeing little movement as the pair awaits the Bank of England (BoE) to announce its monetary policy decision on Thursday.

USD/JPY is trading near a seven-day high at 156.70 as the USD remains fortified against all major currencies.

Gold is trading near $4,908, with little movement as the US government shutdown was resolved and geopolitical tensions appear to be easing.

What’s next in the docket:

Thursday, February 5:

  • Australian December Trade Balance.
  • Eurozone December Retail Sales.
  • Bank of England (BoE) monetary policy decision.
  • European Central Bank (ECB) monetary policy decision.
  • US Jolts Job Openings.

Friday, February 6 :

  • Canada January Net Change in Employment.
  • US February Michigan Consumer Sentiment Index.

Author

Agustin Wazne

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

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