# Forex Major Currencies Outlook (Jan 23, 2017) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-jan-23-2017/ Language: en Updated: 2017-01-23 Description: Explore Forex Major Currencies Outlook (Jan 23, 2017). USD The US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar continued to edge down against its counterparts even after Trump’s inauguration, as investors remained wary of fiscal policy plans and changes in trade relations. After all, Trump did say that he plans on renegotiating NAFTA with Canada and Mexico. There are no major reports from the US economy today. **EUR** The euro recovered against most of its rivals on Friday even though there were no major reports out of the region. Today has the euro zone consumer confidence index on tap and no change from the previous -5 figure is eyed. ECB head Draghi has a testimony lined up and he might reiterate how the pickup in energy-based inflation might not be enough to prompt a discussion on tightening. **GBP** The pound also rebounded against its peers even though UK retail sales printed a dismal 1.9% slide versus the projected 0.1% dip. The sharp rise in price levels is likely taking its toll on consumer behavior, as this may have led households to trim purchases even during the holiday season. There are no reports due from the UK today. **CHF** The franc took advantage of dollar weakness but was stuck in consolidation against its European counterparts. There were no reports out of the Swiss economy on Friday and none are due today so the currency could take its cue from market sentiment and country-specific data. **JPY** The yen got back on its feet on Friday, due mostly to the selloff in the dollar and the rise in risk aversion. There were no reports out of the Japanese economy then while today has the all industries activity index due. **Commodity Currencies (AUD, NZD, CAD)** The Aussie and Kiwi were able to advance to the dollar but the Loonie lagged as the BOC’s dovish tone continued to dampen the currency’s gains.To top it off, data from Canada turned out weaker than expected as headline CPI and retail sales came up short. Canada’s wholesale sales report is due today and a 0.3% uptick is expected. Dampened the Loonie’s gains. Canadian CPI and retail sales figures are due today. *By Kate Curtis from**Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-jan-23-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-jan-23-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-jan-23-2017/", "headline": "Forex Major Currencies Outlook (Jan 23, 2017)", "inLanguage": "en", "datePublished": "2017-01-23T10:03:05+00:00", "dateModified": "2017-01-23T10:03:05+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Jan 23, 2017). USD The US. 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