# Forex Major Currencies Outlook (Jan 7, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-jan-7-2016/ Language: en Updated: 2016-01-07 Description: Explore Forex Major Currencies Outlook (Jan 7, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar had a mixed performance as it advanced to the commodity currencies and pound but gave up ground to the yen and the euro. Data from the US economy was also mixed, with the ADP report printing strong results and the ISM non-manufacturing PMI falling short. Factory orders fell by 0.2% as expected while the trade balance showed a smaller deficit, although this was caused by drops in both imports and exports. The initial jobless claims report is due today. **EUR** The euro managed to recoup some of its losses even as the services PMI readings from its top economies came in mixed. German factory orders and retail sales data are due today and small gains are eyed, with stronger than expected results likely to boost the shared currency. **GBP** The pound was still in a weak spot even as the services PMI came in closely in line with expectations. The figure fell from 55.9 to 55.5 in December, slightly lower than the estimated 55.6 reading but still reflective of a slower pace of industry growth. Only the Halifax HPI is due from the UK today. **CHF** The franc took its cue from the euro and regained ground against most of its counterparts, even though there were no reports out of Switzerland yesterday. Swiss foreign currency reserves data are up for release today and a sharp gain could suggest that the SNB is starting to intervene in the currency markets once more. **JPY** The yen continued to rake in gains on the risk-off market environment, chalking up its largest wins to the commodity currencies. There were no reports out of the Japanese economy yesterday and none are due today, indicating that risk sentiment could stay in play. **Commodity Currencies (AUD, NZD, CAD)** The comdolls continued to lose ground as risk aversion stayed in the financial markets. Not even the decline of 5.1 million barrels in crude oil inventories was enough to keep oil and the Loonie afloat, as traders focused on the buildup in other energy resources. In Australia, building approvals came in much weaker than expected while the trade balance came in line with expectations. A speech by BOC Governor Poloz is lined up, along with the Ivey PMI which might fall from 63.6 to 56.7. *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-7-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-jan-7-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-jan-7-2016/", "headline": "Forex Major Currencies Outlook (Jan 7, 2016)", "inLanguage": "en", "datePublished": "2016-01-07T06:52:46+00:00", "dateModified": "2016-01-07T06:52:46+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Jan 7, 2016). USDThe US. 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