Forexlive Americas FX news wrap 13 Jan: Mixed USD.Stocks erase declines & close mostly up ...Middle East

Mixed ending for the major indices. Nasdaq lower but other indices close higherGold consolidates gains as buyers and sellers wait for the next breakCrude oil futures settle at $78.82Fitch estimates for economic losses related to California fires range from $150B to $275BECB Vileroy: French GDP growth could pick up 2026 and 2027US 10 year yield up seven of the last nine trading daysEuropean indices close lower on the dayNew York Fed: Year ahead inflation expectations unchanged at 3% in DecemberUS employment trends for December 109.70 vs 109.45 (revise) prior monthBitcoin extends losses.Trades below $90,000Geopolitics: Hamas says talks over some core issues for Gaza ceasefire made progressKey releases and events this weekDollar is modestly higher to start the trading week. Stocks continue to tumble.ForexLive European FX news wrap: Dollar holds mostly firmer, equities under pressureUS unveils new restrictions on AI chip exports

The other data was a NY Fed survey data which showed.

NY Fed: Year-ahead expected inflation unchanged at 3% in December. December three-year-ahead expected inflation at 3% vs. 2.6% in November.Five-year-ahead expected inflation at 2.7% in December vs. 2.9% in November.

The mean perceived probability of losing one’s job in the next twelve months declined by 1.6 percentage points to 11.9 percent. The mean probability of leaving one’s job voluntarily in the next twelve months also declined by 2.0 percentage points to 18.2 percent. Both readings are the lowest since January 2024.The mean perceived probability of finding a job if one’s current job was lost declined sharply to 50.2 percent from 54.1 percent in November, the lowest reading since April 2021

The reaction was more toward a decline in the USD after gains coming into the US trading day.

EUR, +0.23%JPY -0.06%GBP, +0.22%CHF, +0.13%CAD -0.17%AUD, -0.24%NZD -0.20%

Those changes compare to the early US session gains in the greenback of:

EUR, +0.52%JPY -0.22%GBP, +0.81%CHF, Unchanged%CAD +0.05%AUD, +0.07%NZD +0.18%

Stocks also saw a change in direction from the early US session. Major indices moved lower in the early part of the day with the low watermarks reaching:

Dow industrial average down -93.56 pointsS&P index down -53.73 pointsNASDAQ index down -329.72 pointsRussell 2000 down -30.60 points

The final numbers showed:

Dow industrial average rose 358.67 points or 0.86% at 42297.12S&P index rose 9.18 points or 0.16% at 5836.22NASDAQ index fell -73.53 points or -0.38% at 19088.10

2 year 4.389% -0.6 basis points5-year 4.605%, +1.4 basis points.10 year 4.786%, +1.2 basis points30 year 4.965%, +0.1 basis points

Tomorrow US PPI data will be released at 8:30 AM with expectations of 0.2% for the MoM. with the core expected to rise by 0.4%. The more important CPI data will be released on Wednesday with expectations of 0.3% MoM for the headline and 0.2% for the core.

Fedspeak will include:

FOMC Schmid (10 AM ET)FOMC Williams (3:05 PM ET) This article was written by Greg Michalowski at www.forexlive.com.

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