US Session: Investors backing the US and the Greenback

FXStreet (Guatemala) - The US session gave us further demand for greenback and denominated assets, with Wall Street making an impressive rally with the S&P back into the 2020's and the Dow spiking almost 200 points from 17,280 up to 17,496. Investors are pro US after Yesterday's bullish FOMC.

EUR/USD was offered eventually post the compelling run of higher highs and lows in European trade and early US shift until supply came in at 1.1368 and the bears filled their boots until 1.1278.

USD/JPY was dragged up to 118.47 and away from the 118 the figure with overnight trade in Europe seeing scores as low as 117.60. Regardless of these efforts, the Yen remains in a range and the ebs and flows have been set in place since 16th Dec lows at 115.56 and 15th Jan that bottomed out at 115.84 before resuming into a sideways drift between 117.20/118.80.

GBP/USD was on its knees with flows through the EUR initially in Europe on a relief rally ahead of month end's close tomorrow and this transpired into supply in Sterling with EUR/GBP up from 0.7443-7525 in the afternoon of the US session.

The commodity currencies were licking their wounds by the end of the US session with WTI falling heavily but recovering later in the US session and Gold down over $25.00 to $1254 the low by the close. AUD/USD making a new low at 0.7718 and /USDCAD up to new highs of 1.2679. NZD/USD was scoring new lows vs the greenback at 0.7238.

Key events:

">USD Initial Jobless Claims (Jan 23)

USD Continuing Jobless Claims (Jan 16)

USD Pending Home Sales (YoY) (Dec)

Pending Home Sales (MoM) (Dec)

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