ForexLive European FX news wrap: Dollar higher awaiting payrolls

invest on stocks


  • Dollar firms in countdown to non-farm payrolls
  • USD/JPY holds higher with payrolls in focus
  • BOJ being tested once again
  • China reportedly places first order for Australian coal since unofficial ban in 2020
  • Eurozone December preliminary CPI +9.2% vs +9.7% y/y expected
  • Eurozone November retail sales +0.8% vs +0.5% m/m expected
  • Germany November industrial orders -5.3% vs -0.5% m/m expected
  • Germany November retail sales +1.1% vs +1.0% m/m expected
  • UK December Halifax house prices -1.5% vs -2.3% m/m prior
  • Russian ceasefire reportedly comes into force in Ukraine


  • USD leads, JPY lags on the day
  • European equities mixed; S&P 500 futures flat
  • US 10-year yields up 0.5 bps to 3.727%
  • Gold up 0.2% to $1,836.48
  • WTI crude down 0.4% to $73.39
  • Bitcoin down 0.8% to $16,722

It was a quiet session for the most part as markets are gearing towards the US non-farm payrolls report later today. The yen was weaker as the BOJ got tested, with 10-year JGB yields running up against the 0.50% mark for the first time since July 2015.

USD/JPY moved higher from 134.00 to 134.60, running up to its highest levels since the BOJ policy meeting last month.

The dollar was steady throughout, firming slightly across the board as we see some added positioning flows ahead of the data. EUR/USD fell from 1.0520 to 1.0485 while GBP/USD stumbled from 1.1920 to 1.1841 during the session.

Despite tepid tones in equities and bonds, commodity currencies are also on the retreat against the dollar today. USD/CAD is up 0.5% to 1.3650 while AUD/USD is down 0.3% to 0.6725 as the greenback is seen firmer for now.

It’s all on the jobs data next and if yesterday’s ADP report is any indication, this is a market that is itching for something to work with this new year.

This article was written by Justin Low at