FX markets

Daily Market View 07-01-2026

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1:35

USD Trades Stronger off Swirling Geo Risk

1 Minute Market Rundown

Trump makes suggestions of the United States acquiring Greenland in a long speech made last night.
Remarks trigger a small rush into safe havens, with USD knocking GBP off its September high.
US data releases today, including ISM services data and factory orders.

USD-

As the times get stranger, markets follow suit, with Trump's ramblings over 90 minutes of speech last night sending European leaders scrambling. Trump has rolled his success from the Venezuela operation into loud overtures regarding Greenland.

Trump has coveted the Danish territory for a number of years and is likely just testing the European reaction to the idea of a US administration on the island.

Screenshot 2026-01-07 091549

I still suspect that this will mostly blow over, although it hasn't stopped European leaders taking it very seriously, backing up the Danes thoroughly at yesterday's summit.

All of this noise makes honing the signal of the market more difficult, but today's US economic data out at 15:00 should help us refocus on the actual motivators of FX movements. Oil markets remain in flux as rumours this morning suggested 50 million barrels of Venezuelan oil bound of the US in the coming days.

Markets Today

*Please be aware the below rates represent the market rate at 8:00 AM, contact your Caxton dealer on check online for a live quote.

Today's Economic Calendar

Major Economic Releases (All times in GMT)

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