News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Wall Street
More View more
Real Time News
  • US Senator Romney: I want to get an agreement on infrastructure today $USD $DXY
  • US Treasury Sec. Yellen: - Congress should act to lift the debt ceiling as quickly as possible - We cannot allow any chance of the government defaulting on its debt
  • US Treasury Sec. Yellen: - Defaulting on the national debt is "unthinkable" - It would be catastrophic for the US to default, that would likely precipitate a crisis
  • US Treasury Sec. Yellen: - The Fed's IOER adjustment was purely technical - According to the Fed, the stance of monetary policy has not changed
  • US Treasury Sec. Yellen: - Inflation estimates for next year are consistent, hovering around 2%
  • US Treasury Sec. Yellen: - The majority of inflation expectation indicators are still stable - Inflation will return to normal levels after this year
  • US Treasury Sec. Yellen: - I believe current inflation patterns are temporary due to supply chain bottlenecks - It will be a bumpy road to reopening, but the economy is on a good track
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.59% Gold: 0.05% Oil - US Crude: -0.12% View the performance of all markets via
  • US Treasury Sec. Yellen: Raising the corporate tax rate would land the US in the middle of its peers
  • US Senator Schumer: - We are moving forward on multiple infrastructure proposals - I will meet with White House officials later along with Speaker of the House Nancy Pelosi
Strong NFPs Fuel Broad Based Dollar Rally- Sterling Rebound on Tap

Strong NFPs Fuel Broad Based Dollar Rally- Sterling Rebound on Tap

Michael Boutros, Strategist

Daily Winners and Losers

Strong_NFPs_Fuel_Broad_Based_Dollar_Rally-_Sterling_Rebound_on_Tap_body_Picture_2.png, Strong NFPs Fuel Broad Based Dollar Rally- Sterling Rebound on TapStrong_NFPs_Fuel_Broad_Based_Dollar_Rally-_Sterling_Rebound_on_Tap_body_Picture_3.png, Strong NFPs Fuel Broad Based Dollar Rally- Sterling Rebound on TapStrong_NFPs_Fuel_Broad_Based_Dollar_Rally-_Sterling_Rebound_on_Tap_body_Picture_4.png, Strong NFPs Fuel Broad Based Dollar Rally- Sterling Rebound on Tap

The Japanese yen it the top performer against a stronger dollar for a third consecutive day as dollar gains continue to outpace those of the yen. The USD/JPY is virtually unchanged with a fractional advance of just 0.02% on the session as the yen holds its ground despite broad based dollar advances. A stronger than expected print on today’s non-farm payroll report has fueled a rally in the greenback with the dollar advancing against all its major counterparts save the yen. Yesterday’s blowout ADP employment figure may have set expectations too high for the more encompassing NFP print with US equity markets drifting lower at the open as investors moved into moved into the reserve currency and US Treasuries. Non-farm payrolls added 200K jobs in December, besting calls for a print of 155K. The figure comes off a downwardly revised 100K print back in November suggesting that strength in the labor markets seems to be gathering pace with the unemployment rate falling to 8.5%.

The low yielding yen, often seen as a haven play in times of turmoil, advanced against all the majors save the dollar which remains well supported in early US trade. The USD/JPY continues to straddle the 38.2% Fibonacci extension taken from the October 31st and November 28th highs at 77.15. Interim resistance stands at 77.30 with a break eyeing subsequent ceilings at the 23.6% extension at 77.55 and 77.70. Support now rests at the 77-figure with subsequent floors seen at the 50% extension at 76.80, 76.60 and the 61.8% extension at 76.45. Look for the dollar to remain well supported here with the pair likely to keep a tight range throughout the session.

Key Levels/Indicators



200-Day SMA


100-Day SMA


50-Day SMA


2011 JPY High


Strong_NFPs_Fuel_Broad_Based_Dollar_Rally-_Sterling_Rebound_on_Tap_body_Picture_5.png, Strong NFPs Fuel Broad Based Dollar Rally- Sterling Rebound on TapStrong_NFPs_Fuel_Broad_Based_Dollar_Rally-_Sterling_Rebound_on_Tap_body_Picture_6.png, Strong NFPs Fuel Broad Based Dollar Rally- Sterling Rebound on Tap

The British pound is the weakest performer against the dollar with a decline of more than 0.70% in early US trade. The pair broke below trendline support dating back to the December 29th low ahead of today’s NFP print before encountering stronger support at the 1.5375 level. Interim support holds here with subsequent floor seen at the 76.4% Fibonacci extension taken from the December 21st and January 3rd crests at 1.5355, 1.5330, and 1.5295. The sterling is likely to rebound as European markets close with topside resistance eyed at the 61.8% extension at 1.5415, backed quickly by soft resistance at 1.5430 and the 50% extension at 1.5460. Our medium-term bias on the pound remains weighted to the downside noting that the pair may move higher in intra-day trade after such a decline of magnitude,

Key Levels/Indicators



200-Day SMA


100-Day SMA


50-Day SMA


2011 GBP Low


---Written by Michael Boutros, Currency Analyst with

To contact Michael email mboutros@dailyfx.comor follow him on Twitter @MBForex.

To be added to Michael’s email distribution list, send an email with subject line “Distribution List” to

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.