Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Technical Analysis

Forex Today: Dollar dominates the sentiment on broad-based risk-off mood

Source Fxstreet

The beginning of the new trading year continued to see the greenback on the positive foot. Moving forward, Asian markets should closely follow the Chinese calendar, where Caixin Services and Composite PMIs are due. In Japan, the final Manufacturing PMI tracked by Jibun Bank is due, while nothing is scheduled in Oz on Thursday.

Here is what you need to know on Thursday, January 4:

The US Dollar Index (DXY) climbed to the area of three-week tops around 102.70 on the back of the persevering selling bias in the risk-associated universe. In addition, US yields rose further to multi-week peaks across different maturities, reinforcing at the same time the constructive tone around the dollar.

US stocks probed the area of multi-day lows, extending the corrective move after hitting a new all-time high just below the 38000 yardstick when gauged by the reference Dow Jones.

Data released on Wednesday showed an improvement in the always relevant US ISM Manufacturing PMI to 47.4 in the last month of 2023, while the labour market gauge of JOLTs Job Openings missed estimates at 8.79M in November, showing further cooling of the US labour market prior to key releases of the ADP and weekly Initial Jobless Claims (Thursday) and the December Nonfarm Payrolls (Friday).

EUR/USD sank to the sub-1.0900 region for the first time since mid-December against the backdrop of the stronger greenback and generalized weakness in the risky assets.

GBP/USD was a kind of exception after revisiting the upper-1.2600 amidst decent gains and following three consecutive sessions of losses.

Another negative session for the Japanese yen saw USD/JPY climb to the 143.70 region on the back of the continuation of the upside momentum of US yields and a directionless patter in JGB 10-year yields.

AUD/USD remained well on the defensive and retreated for the fourth session in a row against the backdrop of further pressure surrounding the high-beta currencies and the generalized bearish session in the commodity complex.

Speaking about the commodity universe, the Canadian dollar lost ground for the fifth consecutive session, lifting USD/CAD to the 1.3370 zone, or two-week highs.

The intense move higher in the greenback and US yields weighed on gold and sponsored a drop to multi-day lows near $2030 per ounce. In the same line, silver prices added to the pessimistic start of the year and broke below the $23.00 mark per ounce to clinch a new two-week lows.

No news from the FOMC Minutes left the positive momentum in the US Dollar unchanged after the committee's belief that rates are nearing their peak cycle and projections indicating a lower rate by 2024 were already widely anticipated. Moreover, some participants expressed the view that it may be necessary to maintain the policy rate at its current level for a longer period than initially anticipated.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Dollar presses 102 as the 10-year yield sits at 5.14% — and October hike odds are only 17%The dollar index closed at 101.99 (+0.20%) on Monday after briefly topping 102.07, while the 10-year Treasury yield rose to 5.14% and the 2-year hit 4.774% — yet futures price only about a 17% chance of a hike at the October 27-28 FOMC, versus roughly 90% for December. The driver is a global bond selloff, not a Fed repricing: France's 10-year OAT jumped to 4.84% ~ 4.94% and the OAT-Bund spread widened to 140 ~ 146bp. Here are the levels, the cross-asset read-through and what to watch.

Author Irene Q.

Oct 20, Tue

The dollar index closed at 101.99 (+0.20%) on Monday after briefly topping 102.07, while the 10-year Treasury yield rose to 5.14% and the 2-year hit 4.774% — yet futures price only about a 17% chance of a hike at the October 27-28 FOMC, versus roughly 90% for December. The driver is a global bond selloff, not a Fed repricing: France's 10-year OAT jumped to 4.84% ~ 4.94% and the OAT-Bund spread widened to 140 ~ 146bp. Here are the levels, the cross-asset read-through and what to watch.

Meta's AI bill just hit $145 billion — and it issued a new share class to pay for it Meta reported record third-quarter revenue of $64.60 billion, up 26% from a year earlier, and raised full-year 2026 capital expenditure guidance to $135-145 billion from $130-145 billion. To fund that build-out without touching Mark Zuckerberg's voting control, the company announced a 2-for-1 stock split that hands every Class A holder a new non-voting Class C share. Here are the four lines that matter, the peer group that is being re-rated alongside it, and the bull and bear cases.

Author Irene Q.

Oct 22, Thu

Meta reported record third-quarter revenue of $64.60 billion, up 26% from a year earlier, and raised full-year 2026 capital expenditure guidance to $135-145 billion from $130-145 billion. To fund that build-out without touching Mark Zuckerberg's voting control, the company announced a 2-for-1 stock split that hands every Class A holder a new non-voting Class C share. Here are the four lines that matter, the peer group that is being re-rated alongside it, and the bull and bear cases.

The Fed will sit still on October 28 — but 100 of 100 economists now expect a December hike A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Author Irene Q.

Oct 22, Thu

A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 23, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 23, 2026. Read on for the details.

Author Mitrade

Yesterday 02: 56

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 23, 2026. Read on for the details.

Nasdaq closes at 26,008.86 — 8.9 points above 26,000, and the credit market never blinked The Nasdaq Composite fell 2.60% to 26,008.86 on October 22, its worst session since June, as Meta sank 6.98% on 2026 capex guidance of $135–145 billion. But the equal-weight S&P 500 rose 0.73%, high-yield credit was flat and 10-year yields fell 20 basis points. This was an AI de-rating, not a risk-off event — here is the transmission chain, the 29,000 / 28,200 levels and what would prove it wrong.

Author Irene Q.

Yesterday 06: 39

The Nasdaq Composite fell 2.60% to 26,008.86 on October 22, its worst session since June, as Meta sank 6.98% on 2026 capex guidance of $135–145 billion. But the equal-weight S&P 500 rose 0.73%, high-yield credit was flat and 10-year yields fell 20 basis points. This was an AI de-rating, not a risk-off event — here is the transmission chain, the 29,000 / 28,200 levels and what would prove it wrong.

Related Instrument