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On Tuesday, the Australian dollar sagged in early Asia, with no key regional data because market participants keep monitoring dollar weakness amid political turmoil in America.
The currency pair AUD/USD hit 0.7937, inching down 0.01%. Meanwhile, AUD/JPY reached 109.07, soaring 0.09%.
Estimating the greenback’s actual strength versus a basket of six main currencies, the US dollar index went down 0.39% being worth 93.00.
Overnight, the evergreen buck slumped versus global currencies amid a definite uptick in safe-haven demand, reacting to resumed geopolitical tension in the Korean Peninsula because US-South Korea military exercises already got underway.
The US currency lost ground versus safe-haven currencies, such as the Japanese yen as well as the Swiss franc after on Monday America and South Korea started their computer-simulated military exercises, potentially risking a reaction from Kim Jong Un, North Korean leader, who might consider such exercises as preparation for an invasion of his country.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
USD’s rally takes a pause, while riskier assets are modestly rising.
We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.
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