A relatively volatile session on the FOREX, with millimeter spreads on the main currency pairs, as the dollar remains supported by strong pressure on short and long rates in the United States (T-Bonds remain in the red, with the 10-year up 3 points at 4.1350%, while the 2-year peaks at 4.35%).

The $-Index gained just 0.08% to n103.55 and the greenback gained +0.15% against the Euro to 1.0860/E after the publication of the "figures of the day", which were rather contradictory in the USA, with a fall in the Philly FED activity index (expected at -7, it came out at -10.6) which was contradicted by a sharp fall of -16.000 in new US jobless claims in the week from January 8 to 13, to 187,000, one of the lowest scores in 50 years (worthy of the purest 'full employment').

According to Labor Department figures, the four-week moving average - more representative of the underlying trend - came out at 203. 250 for the same week, down 4,750 on the previous week's revised average.

Finally, the number of people receiving regular benefits fell by 26,000 to 1.806,000 in the week to January 1, the most recent period available for this statistic.

And don't forget the +1.9% rise in US building permits (to 1.495 million), while housing starts (-4.3%) fell less than expected, to 1.46 million against an estimated 1.43 million.

The U.S. real estate sector thus continues its mixed trend, with the recent easing of interest rates failing to revive demand held back by historically high prices and low inventories.

The euro showed little reaction to ECB President Christine Lagarde's speech on the bangs of the Davos economic forum: she dashed hopes of a rate cut this spring, instead mentioning a "probable" rate cut in June.

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