The Nasdaq 100 Index recovered from an early 2% decline to finish in the green as markets turn to Fed Chair Powell testimony on Tuesday.

Failure to defend the opening range for January raises the scope for a further decline in USD/CAD as the exchange rate carves a series of lower highs and lows.

U.S. stocks were subdued on Monday amid rising U.S. Treasury yields, but finished the day off their lows as dip buyers emerged to blunt the sharp pullback.

The reversal from the December high (0.7278) may gather pace if AUD/USD fails to defend the opening range for January.

The turn into the middle of January brings forth a US-centric docket of economic data and events.

In the lead up to this weeks CPI print, the NY Fed’s December consumer survey sees positive labor sentiment but higher expected household costs, inflation flat

My top mistake of 2021 could be labelled as more of an oversight, and one that is perhaps grounded in an irrational bias.

IG Client Sentiment is a helpful indicator in trending markets. This week analyze USD/CAD, the pullback in USD/JPY and the GBP/JPY carry trade.