It was just another “small session” on the FOREX, with the Dollar Index gaining +0.1% to 102.40… a perfectly coherent gap given the -0.1% decline in the Euro to 1.0965, the Swiss Franc and the Pound.
However, the greenback lost ground against the yen (-0.3% to 144.85) and finished close to equilibrium against the Canadian dollar.
Over the week, the evolution of the dollar is insignificant – at the limit of measurability – and against the euro, parity has been frozen since January 3 between 1.0920 and 1.0980, the level observed around December 18.
The Labor Department announced that producer prices fell by 0.1% on a gross basis in December, but rose by 0.2% excluding food, energy and business services.
The ‘little phrase’ that traders will be keeping to on the eve of the weekend comes from Christine Lagarde, for whom ‘the peak in rates is behind us’…. but they are taking their time to analyze, as their reaction cannot be read in the day’s variations.
Nor in those relating to US inflation figures that were less favorable than expected the day before.
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