After an insignificant session (American and British traders on vacation) on Monday, January 2, 2023, the dollar started 2023 and on a particularly strong recovery.

The dollar gained more than 1% against the Euro around 1.0550 and +1.25% against the Swiss Franc (to 0.9365). However, it is not gaining an inch against the yen, and only +0.7% against the British pound). Indeed, the Dollar Index recovered by +1.05% to 104.60, after testing a 6-month low the day before. It thus benefits from a surprise increase in housing spending in the United States. Indeed, these expenses exceeded expectations, at +0.2% compared with -0.4% anticipated.

In addition, the euro's return declined more sharply than for the note. OAT show -9Pts at 2.900%, the Bunds -7.59 Pts at 2.372% while the T-Bonds erase only -5Pts. As far as investors are concerned, they have become aware of several leading statistics in Europe. The consumer price index for the month of December in Germany was a pleasant surprise with a slowdown of -1.4% sequentially, to +8.6% (compared with +10.00%) thanks to the strong fall in gas prices. consumer prices in Germany increased by 7.9% in national data and by 8.7% in harmonized data, on an annual average over the whole of 2022, compared to the previous year's average.