United States EIA Crude Oil Stocks Change below expectations (1.1M) in January 2: Actual (-3.832M)

United States EIA Crude Oil Stocks Change registered at -3.831M, below expectations (1.1M) in January 2

2026 GDP forecasts now point to 2.1% growth in the US and 1.2% in the Eurozone, up from earlier estimates, yet the dollar has stabilized rather than rallied.

The Australian Dollar (AUD) trades flat against the US Dollar (USD) on Wednesday, with AUD/USD easing back after an initial advance triggered by Australia’s latest inflation data. At the time of writing, the pair is trading around 0.6738, holding near 15-month highs.

The number of job openings on the last business day of November stood at 7.146 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Wednesday.

Economic activity in the US service sector improved slightly in December, with the ISM Services PMI ticking higher to 54.4 from 52.6 in November, surpassing analysts' expectations.

United States JOLTS Job Openings came in at 7.146M, below expectations (7.6M) in November

Canada Ivey Purchasing Managers Index s.a registered at 51.9 above expectations (49.5) in December

United States Factory Orders (MoM) below expectations (-1.2%) in October: Actual (-1.3%)

United States ISM Services Employment Index increased to 52 in December from previous 48.9

United States ISM Services PMI above expectations (52.3) in December: Actual (54.4)

United States ISM Services Prices Paid fell from previous 65.4 to 64.3 in December

United States ISM Services New Orders Index increased to 57.9 in December from previous 52.9

NZD/USD trades around 0.5790 on Wednesday at the time of writing, up 0.10% on the day, supported by a mix of macroeconomic factors despite a mixed flow of news from the United States (US).

The Japanese Yen (JPY) is modestly stronger against the dollar, outperforming most G10 peers as Japanese bond yields pause their recent rise.

The Pound Sterling (GBP) is trading flat against the US Dollar (USD), consolidating around 1.3500 as weak construction PMI data fails to generate a market reaction.

The Euro (EUR) is steady, entering Wednesday’s NA session unchanged vs. the US Dollar (USD) in an overall quiet market.

The Canadian Dollar (CAD) drifted a little lower in quiet overnight trade but appears to have steadied around 1.38 ahead of the North American open. Trends continue to reflect the broader tone of the USD, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The US Dollar (USD) is little changed on the session. A minor recovery in the Dollar Index (DXY) yesterday keeps the index in a tight range around the 100-day MA (98.58).

The British Pound (GBP) ticks lower against the Japanese Yen (JPY) on Wednesday, extending losses for a second straight day. At the time of writing, GBP/JPY trades around the 211.00 psychological mark, down nearly 0.20%.

United States ADP Employment Change below forecasts (47K) in December: Actual (41K)

The Euro (EUR) holds firm against the Swiss Franc (CHF) on Wednesday as traders digest the latest preliminary Eurozone inflation figures. At the time of writing, EUR/CHF is trading around 0.9302, little changed on the day.

EUR/JPY trades around 182.90 on Wednesday at the time of writing, down 0.10% on the day. The cross remains under pressure as the Japanese Yen (JPY) benefits from a more defensive market environment, amid rising geopolitical tensions in Asia and continued firm signals from the Bank of Japan (BoJ).

Ripple (XRP) is trading downward but holding support at $2.22 at the time of writing on Wednesday, as fear spreads across the cryptocurrency market, reversing gains made from the start of the year.

Bitcoin (BTC) extends correction below the $93,000 mark at the time of writing on Wednesday, signaling a cooldown from the early-year rally that touched $94,789 on Monday. Altcoins, including Ethereum (ETH) and Ripple (XRP), are also facing headwinds amid uncertainty in market sentiment.

The Japanese Yen remains trading within a tight range against the US Dollar on Wednesday. The pair moves without a clear bias, both sides of the 156.50 line, with traders looking from the sidelines ahead of the release of key US employment figures later on the day.

The United States (US) Institute of Supply Management (ISM) Services Purchasing Managers’ Index (PMI) data for December is scheduled to be published today at 15:00 GMT.