The dollar strengthened as U.S. economic data showing a generally stable jobs market and a still robust services sector suggested that the Federal Reserve will likely slow the pace of its current rate-cutting cycle. The greenback rose to a near six-month peak against the yen.
The Dollar-Yen pair made a minor upwards correction in the last session, gaining 0.1%. The MACD is giving a negative signal.
Support: 156.27 | Resistance: 159.43
U.S. job openings unexpectedly increased in November while hiring softened, suggesting the labor market continued to slow at a pace that probably does not require the Federal Reserve to be in a rush to cut interest rates.
The euro zone economy ended 2024 in a fragile state, according a survey which showed overall activity contracted for a second straight month in December as a modest recovery in the services industry failed to offset a deeper downturn in manufacturing.
The Canadian dollar rose to a near three-week high against its U.S. counterpart, as investors weighed the potential for Canada’s economy to escape broad-based U.S. tariffs and a report that Canadian Prime Minister Justin Trudeau would resign.
MicroStrategy, the biggest corporate Bitcoin holder, announced a fresh purchase of 1,070 BTC made in the last two days of 2024. The company revealed the purchase on Jan. 6, stating that it spent about $101 million in cash on December 30–31, 2024.
Dogecoin has jumped 21% over the past week, outperforming other major memecoins. Shiba Inu, Pepe and Bonk were up 7%, 10% and 14%, respectively. The rally follows renewed interest from whales.
