Currency

Currencies: market completely shut down, $-Index frozen at 104.10 – 2024-02-12


In the absence of the slightest official statistic (governmental or associated institute), the FOREX literally went on pause… and the $-Index froze at 104.10, the same level as on Friday at 6pm or this Monday at 12pm.

And we couldn’t count on the Yuan to provide a source of volatility, as it’s ‘Golden Week’ for the Chinese New Year until Friday (markets closed).

The Euro/$ (1.0780), Yen/$ (149.20) and Swiss Franc/$ (0.8745, i.e. +0.05%) pairs have literally frozen.
The Dollar is losing at most 0.15% against the Canadian $, which is marginal.

FOREX could come alive tomorrow with the publication of the US consumer price index, which is expected to have slowed in January (retail sales were unchanged according to data from retail giants), which could confirm the prospect of further monetary easing.

Other important indicators will follow, such as import prices and retail sales on Thursday, before Michigan consumer confidence on Friday.

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