📰 After U.S. Data, Focus Shifts Back to the “Greenland Issue”

📰 After U.S. Data, Focus Shifts Back to the “Greenland Issue”

In today’s New York FX session, the market will first digest U.S. economic data, after which attention is likely to return to U.S.–Europe relations surrounding the Greenland issue.
USD/JPY continues to trade nervously, caught between political factors and geopolitical risk.

📊 First, Watch the U.S. Economic Data

Several key indicators will be released early in the New York session.

● Initial Jobless Claims
Forecast: 210,000
Previous: 198,000
→ A slight deterioration is expected. The market will be watching whether signs of cooling in the U.S. labor market emerge.

● U.S. GDP (Q3, revised)
Forecast: +4.3% annualized (unchanged from the preliminary figure)
→ Unless there is a surprise, the market impact should be limited.

● U.S. PCE Deflator (November)
Forecast:

• Headline: +2.8% YoY

• Core: +2.8% YoY

However:

• The release has been delayed due to government shutdown effects.

• December CPI has already been published.

For these reasons, this data is likely to be treated as “old information,” with a muted market reaction.

🌍 The Main Theme: The Greenland Issue

More than U.S. data, this is what the market is truly focused on.

Yesterday, President Trump stated that:

• The tariffs scheduled to take effect on February 1 would be postponed.

• The option of using military force would be withdrawn.

This temporarily eased U.S.–Europe tensions.

However:

The United States has not completely abandoned its stance on Greenland.

If President Trump returns to hardline rhetoric, it could reignite:

• USD weakness

• U.S. equity selling

• U.S. Treasury selling

In other words, a revival of the so-called “U.S. triple sell-off.”

From the New York session onward, even a single headline or comment could move markets sharply.

💱 USD/JPY: A True “Test of Nerves” Market

London session range:

• High: 159.10

• Low: 157.37

• Now: consolidating in the low 158s

Regarding the sharp drop, there is speculation about:

• Possible intervention

• Possible rate-checking by authorities

But there is no official confirmation, and the truth remains unclear.

Psychologically, the market is in a phase of:

“How far can we push yen weakness?”
“At what level will authorities step in?”

A classic nerve-testing environment.

🧭 Scenarios for Tonight

🎯 Conclusion

Today’s New York session is structured as:

“First, take direction from U.S. data → then everything depends on the Greenland issue.”

It is shaping up to be another classic “political market” day,
where politics and diplomacy matter more than economic fundamentals in driving price action.