Blogs

The Canadian Dollar (CAD) continues to ease back as the 2024 trading year gets underway, extending near-term declines against the US Dollar (USD) to fall a full percentage point as the first trading week of the new year gets underway.

The Mexican Peso (MXN) is taking a breather, retreating from a 17-week high against the US Dollar (USD) as markets kick off the new trading year focusing on US labor and output data.

West Texas Intermediate (WTI) Crude Oil bids fell on Tuesday following a reversal from the day’s early peak near $73.70, sending barrel bids back toward the $70.00 handle as energies markets face downside pressure from multiple fronts.

What you need to take care of on Wednesday, January 3: The US Dollar was the overall winner on Tuesday, appreciating sharply against all its major rivals.

GBP/USD Price Analysis: Grapples to recover recent losses, trades near 1.2730 GBP/USD looks to halt a two-day losing streak, trading slightly higher near 1.2730 during the Asian hours on Tuesday.

In Tuesday's session, GBP/USD witnessed a substantial dip, trading at around 1.2620, with significant downward momentum primarily triggered by USD strength.

The US Dollar (USD) began trading at 102.10, marking a noteworthy rise in the index.

The USD/JPY rebounded on Tuesday, testing 142.00 after a clean bounce from the 141.00 handle to kick off the first trading week of 2024.