Here’s what you need to know on Wednesday, January 28th.
The market sentiment continues to echo a “Let’s sell America” theme. On Tuesday, the U.S. dollar index (DXY) dipped to its lowest point since February 2022 as investors took a cautious stance ahead of the Federal Reserve’s monetary policy decisions slated for Wednesday.
Currently, the US Dollar Index is hovering around 96.30. This slide occurs amid ongoing geopolitical tensions between the U.S. and Europe, which have yet to be resolved since President Trump’s controversial proposal to buy Greenland. Furthermore, the four-week average of ADP employment changes fell to 7.75 million, a decline from the previous 8 million.
USD price today
The table below highlights the percentage change of the US dollar (USD) against major currencies today, with the dollar showing strength against the New Zealand dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.79% | -0.73% | -0.86% | -0.82% | -0.84% | -0.66% | -1.28% | |
| EUR | 0.79% | 0.06% | -0.05% | -0.03% | -0.05% | 0.13% | -0.49% | |
| GBP | 0.73% | -0.06% | -0.11% | -0.09% | -0.11% | 0.07% | -0.55% | |
| JPY | 0.86% | 0.05% | 0.11% | 0.03% | 0.02% | 0.19% | -0.43% | |
| CAD | 0.82% | 0.03% | 0.09% | -0.03% | -0.01% | 0.16% | -0.46% | |
| AUD | 0.84% | 0.05% | 0.11% | -0.02% | 0.01% | 0.18% | -0.45% | |
| NZD | 0.66% | -0.13% | -0.07% | -0.19% | -0.16% | -0.18% | -0.63% | |
| CHF | 1.28% | 0.49% | 0.55% | 0.43% | 0.46% | 0.45% | 0.63% |
The heat map demonstrates the shifts in percentage between major currencies, with the base currency listed in the left column and the quote currency along the top row. For example, selecting USD from the left and moving horizontally to JPY shows the USD/JPY percentage change.
Meanwhile, AUD/USD is trading at around 0.6970, a level it hasn’t reached since February 2023, as commodity-linked currencies rise, partly due to gold approaching $5,100. The Australian Consumer Price Index (CPI) will be released early Wednesday.
As for USD/JPY, it’s hovering near 153.00. Officials in Japan are still voicing serious concerns, stating they are closely watching currency trends and are ready to “take appropriate action.”
In Europe, EUR/USD is around 1.1960, a peak not seen since June 2021. ECB President Christine Lagarde made a speech at an event for International Holocaust Remembrance Day in Frankfurt, Germany, yet didn’t address monetary policy issues.
GBP/USD is trading near 1.3790, with the British pound benefiting from the weaker dollar, reaching levels similar to those of October 2021.
USD/CAD is around 1.3610. This pair saw a significant drop as investors responded to anticipated interest rate decisions from the Fed and the Bank of Canada set for Wednesday.
In light of geopolitical risks and the approaching Fed rate announcement, gold is currently trading at $5,085, which is quite close to its all-time high of $5,111, reinforcing its appeal as a safe haven for investors.
Here’s what’s next on the docket:
Wednesday:
- Australian December CPI.
- Bank of Canada interest rate decisions and statements on monetary policy.
- Federal Reserve Board interest rate decisions, monetary policy statements, and FOMC press conferences.
Thursday:
- Initial unemployment claims in the U.S.
- Tokyo January CPI.
- Japan’s December employment statistics.
Friday:
- Flash Germany’s GDP.
- Eurozone GDP news.
- German Flash CPI.
- U.S. Producer Price Index (PPI).
