Daniela Hathorn

An increase in rate hike expectations from the BOJ and softer US CPI data see USD/JPY turn lower

UK inflation drops more than expected in December, easing some of the fears about the UK economy.

A worsening economic outlook in the UK is driving the pound lower, pushing EUR/GBP to a two-and-a-half-month high.

Australia’s labour market is expected to have cooled in December, according to economist forecasts. The economy is projected to have added 15,000 jobs in the month, lifting the unemployment rate to 4.0%. The lukewarm estimate follows a drop in the unemployment rate to 3.9% in November, owing to a combination of strong full time employment growth and a drop in the participation rate.

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US Non-Farm Payrolls data for December revealed a stronger than expected labour market. Employment rose by 256,000 for the month, vastly outstripping the 164,000 forecast, with the increase enough to push the unemployment rate down to 4.1%. The figures stoked fears that the US economy may still be too hot and is potentially re-accelerating, placing upward pressure on inflation.

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EUR/USD pushes higher as the dollar tumbles and Eurozone inflation rises in December