ไทม์ไลน์ข่าวสาร forex

15:27 EUR/CHF slides toward a four-week low as trade tensions lift the Swiss Franc
The Swiss Franc (CHF) attracts fresh buyers against the Euro (EUR) on Tuesday, as renewed US-EU trade war concerns weigh on risk appetite and lift demand for defensive currencies. At the time of writing, EUR/CHF trades around 0.9265, hovering near its lowest level since December 26.

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At the time of writing, EUR/CHF trades around 0.9265, hovering near its lowest level since December 26.Markets have turned risk-averse following fresh tariff threats from US President Donald Trump toward several European nations over the Greenland issue. The escalation has revived fears of a broader trade conflict, after European leaders said they are prepared to take countermeasures.Against this backdrop, the Swiss Franc is firm across the board. However, EUR/CHF is struggling to extend its downside momentum, as a stronger-than-expected ZEW Economic Sentiment survey is offering some support to the Euro and tempering follow-through selling.Data released earlier on Tuesday showed that Eurozone ZEW Economic Sentiment improved to 40.8 in January, beating expectations of 35.2 and rising from 33.7 in December, pointing to improving investor confidence across the bloc.In Germany, the ZEW Economic Sentiment Index climbed to 59.6, well above forecasts of 50 and the previous 45.8 reading. At the same time, the ZEW Current Situation Index improved to -72.7 from -81 and better than the expected -75.5.In Switzerland, data from the Federal Statistical Office showed that Producer and Import Prices fell 0.2% MoM in December, coming in below forecasts for a 0.2% increase and following a -0.5% decline in the previous month. On a yearly basis, prices were down 1.8%, after falling 1.6% in November.Looking ahead, market participants will be watching for comments from Swiss National Bank (SNB) Chairman Martin Schlegel, who is due to speak later on Tuesday at the World Economic Forum in Davos. Attention will then turn to remarks from European Central Bank (ECB) Governing Council member Joachim Nagel, followed by a speech from ECB President Christine Lagarde. Swiss Franc FAQs What key factors drive the Swiss Franc? The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in. How do decisions of the Swiss National Bank impact the Swiss Franc? The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF. How does economic data influence the value of the Swiss Franc? Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate. How does the Eurozone monetary policy affect the Swiss Franc? As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.

15:16 United States ADP Employment Change 4-week average declined to 8K in December 27 from previous 11.75K
United States ADP Employment Change 4-week average declined to 8K in December 27 from previous 11.75K

14:48 NZD/USD approaches four-month highs at 0.5850 as the US Dollar dives
The New Zealand Dollar appreciates for the third consecutive day against a weaker US Dollar on Tuesday.

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The pair has reached levels a few pips below the last four months’ peak, at the 0.5850 area, with the US Dollar on its back foot amid geopolitical tensions and US President Trump’s erratic trade policies Investors are getting rid of all US assets in a “Sell America” trade similar to the one that followed the “Liberation Day” in April. Trump has spooked investors further, refusing to rule out military action to take Greenland, and has confirmed his intent to impose additional levies on all countries opposing it.US Treasury Secretary Scot Bessent called for calm over the strained US-EU relationship. The Danish Economy Minister affirmed that Denmark wants a negotiated solution, but that if tensions continue escalating, there will need to be an answer at some point.In New Zeraland the BusinessNZ Performance of Services index improved to 51.1 in December from 49.6 in November, returning to expansion levels after almost one year, and closing the longest contraction period since the survey began.Beyond that, data from China released on Monday revealed that the world’s second-largest economy grew at a 4.5% yearly pace in Q4, below the 4.8% GDP growth seen in the previous quarter but above the 4.4% market consensus. Industrial Production beat expectations with a 5.2% increase in December, while Retail Sales and housing prices disappointed, highlighting the weak momentum of the property sector and the domestic demand. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. How do decisions of the RBNZ impact the New Zealand Dollar? The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair. How does economic data influence the value of the New Zealand Dollar? Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate. How does broader risk sentiment impact the New Zealand Dollar? The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.

14:38 EUR/GBP rises as Euro gains on improved sentiment, UK data fuels BoE rate cut bets
EUR/GBP trades around 0.8720 on Tuesday at the time of writing, up 0.60% on the day, with the Euro (EUR) outperforming the Pound Sterling (GBP) after a series of supportive macroeconomic releases from the Eurozone.

14:14 Gold soars past $4,700 as geopolitical and trade tensions escalate
Gold (XAU/USD) hits yet another record high on Tuesday, climbing above the $4,700 psychological mark as rising geopolitical tensions drive strong safe-haven demand. At the time of writing, XAU/USD trades around $4,730, up nearly 1.25% for the day.

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At the time of writing, XAU/USD trades around $4,730, up nearly 1.25% for the day. Market sentiment remains fragile as renewed US-EU trade tensions dominate headlines. Over the weekend, US President Donald Trump threatened fresh tariffs on eight European nations over the Greenland issue. European leaders sharply criticized the move and warned that countermeasures are being prepared if the tariffs are implemented.The developments have revived fears of a broader transatlantic trade war. The risk-off mood is weighing on global equities and strengthening demand for defensive assets.Trump’s increasingly protectionist stance is also eroding confidence in US assets, putting pressure on the US dollar (USD) and prompting investors to shift into alternative G10 currencies and traditional safe havens such as Gold.Beyond trade concerns, the ongoing Russia-Ukraine war and persistent tensions in the Middle East continue to keep geopolitical risk elevated. At the same time, robust institutional and investment demand alongside dovish Federal Reserve (Fed) expectations remain key drivers underpinning the metal’s broader uptrend.Market movers: Trade tensions, court rulings and Fed leadership risks loomThe US Dollar Index (DXY), which tracks the Greenback's value against a basket of six major currencies, extends its decline for a second straight day, trading around 98.45, near a two-week low.US President Donald Trump declined to rule out the use of military force to take control of Greenland in an interview with NBC News, responding, “No comment.” Separately, Trump wrote on Truth Social that Greenland is “imperative for National and World Security. There can be no going back — On that, everyone agrees!” after speaking with NATO Secretary General Mark Rutte, adding that the issue would also be discussed at the World Economic Forum in Davos.EU Foreign Policy Chief Kaja Kallas said Europe has “no interest in picking a fight” with the United States but will “hold our ground” and has “a slate of tools to protect its interests”. Analysts say the Eurozone could, in theory, use its large holdings of US assets, including Treasuries, as leverage if trade tensions with Washington escalate. The Eurozone is the largest foreign holder of US long-term Treasuries, accounting for around 21% of total foreign holdings.Markets are also bracing for major risk events this week, including a US Supreme Court ruling on the legality of President Trump’s tariffs, court arguments on Wednesday over Trump’s attempt to remove Fed Governor Lisa Cook over mortgage-fraud allegations, and a potential announcement of a new Fed Chair.Focus also turns to upcoming US economic data, with the ADP Employment Change 4-week average due later Tuesday, followed by the delayed Personal Consumption Expenditures (PCE) inflation data and third-quarter Gross Domestic Product (GDP) figures on Thursday. On Friday, attention turns to the preliminary S&P Global PMI surveys and the University of Michigan consumer sentiment data.Technical analysis: XAU/USD eyes $4,800 as support builds near $4,700XAU/USD 4-hour chartFrom a technical perspective, XAU/USD continues to push deeper into uncharted territory, with bullish momentum firmly in place. On the 4-hour chart, Gold is trading within a well-defined ascending parallel channel and is holding comfortably above its key moving averages, reinforcing the broader bullish bias.On the downside, the $4,700 area now acts as the first important near-term pivot. A failure to sustain above this zone could open the door for a corrective pullback toward $4,650, followed by $4,600. Deeper support is seen near the 100-period SMA around $4,505.On the upside, bulls may look to extend the rally toward the $4,750 region, with the next psychological objective emerging near $4,800.Momentum indicators remain supportive. The Relative Strength Index (RSI) is holding in overbought territory near 70, reflecting strong upside pressure. Meanwhile, the Average Directional Index (ADX) near 29 suggests the broader uptrend remains firmly intact. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

14:04 USD/CAD approaches 1.3800 amid broad-based US Dollar weakness
The US Dollar is trading lower for the second consecutive day against its Canadian counterpart on Tuesday. The pair has dropped about 0.6% over the last two days, extending its reversal from 1.3928 highs to session lows at 1.3820 so far.

13:49 USD/JPY drops to near 157.80 as US-EU disputes batter US Dollar
The USD/JPY pair is down 0.2% to near 157.80 during the European trading session on Tuesday. The pair is under pressure as the US Dollar (USD) underperforms across the board amid ongoing disputes between the United States (US) and the European Union (EU) over Greenland’s sovereignty.

USD/JPY falls to near 157.80 as the US Dollar extends its downside.US-EU disputes keep battering the US Dollar.Japan PM Takaichi announces snap election, and vows to cut consumption tax.The USD/JPY pair is down 0.2% to near 157.80 during the European trading session on Tuesday. The pair is under pressure as the US Dollar (USD) underperforms across the board amid ongoing disputes between the United States (US) and the European Union (EU) over Greenland’s sovereignty.During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.56% lower to near 98.45.The US Dollar faces intense selling pressure as US President Donald Trump's tariff threats on several EU nations and the United Kingdom (UK), in an attempt to pressure the continent to allow Washington to purchase Greenland, have raised concerns about the long-term state of relations with the continent.However, US Treasury Secretary Scott Bessent has confirmed in his comments at the World Economic Forum (WEF) in Davos that Washington doesn’t intend to withdraw NATO’s membership.US Treasury Secretary Bessent also stated that White House will announce the Federal Reserve’s (Fed) Chair Jerome Powell’s successor as early as next week.Though the Japanese Yen (JPY) is outperforming the US Dollar, the former is underperforming its other peers as Japan's Prime Minister (PM) Sanae Takaichi’s plans to cut the consumption tax point to looser fiscal conditions going ahead. Japan's PM Takaichi announced plans to dissolve the parliament’s lower house on January 23, and vowed to suspend the consumption tax for two years.Going forward, the major trigger for the Japanese Yen will be the Bank of Japan’s (BoJ) monetary policy announcement on Friday.

13:41 CHF: Swiss inflation signals deflation risk, SNB might turn dovish – Rabobank
Switzerland faces mild deflationary pressure as December PPI fell -1.8% y/y and January CPI barely stayed positive at 0.1%, keeping markets alert to potential SNB rate cuts.

Switzerland faces mild deflationary pressure as December PPI fell -1.8% y/y and January CPI barely stayed positive at 0.1%, keeping markets alert to potential SNB rate cuts. Weak manufacturing activity, illustrated by a December PMI of 45.8, adds to economic headwinds, though safe-haven flows are expected to underpin the Swiss franc, supporting EUR/CHF around 0.92, Rabobank's FX analyst Jane Foley reports. EUR/CHF supported by safe-haven flows despite domestic weakness"In terms of Switzerland’s domestic economic backdrop, market pricing points to ongoing risk that the SNB may drop rates back below zero in the coming months. December PPI inflation recorded a -1.8% y/y fall, which points to the deflationary risks in the country. Last week’s release of Swiss January CPI inflation data at an as expected 0.1% y/y showed that headline inflation continues to cling to positive territory, but only just.""The December measure of Swiss manufacturing PMI at a disappointing 45.8 is illustrative of economic headwinds in the country. Since the SNB only schedules four policy meetings a year, the next one is not until March 19. At the December meeting, the SNB forecast that Swiss CPI inflation would remain within the range of its price stability target of 0% to 2% over its entire forecast horizon, based on the assumption that it kept its policy rate at 0%." "It is possible that policymakers will become more dovish given the current threat of a step up in trade tensions between the EU and the US which would have negative consequences for the Swiss economy. That said, even under this scenario we would expect that safe haven flows would continue to keep the CHF well underpinned. We retain a 3-month forecast of EUR/CHF 0.92."

13:27 JPY weakens as JGBs tumble on fiscal concerns – BBH
The Japanese Yen (JPY) underperformed while government bonds plunged following Prime Minister Takaichi’s announcement of a snap election and a pro-stimulus agenda including a two-year food tax break, BBH FX analysts report.

The Japanese Yen (JPY) underperformed while government bonds plunged following Prime Minister Takaichi’s announcement of a snap election and a pro-stimulus agenda including a two-year food tax break, BBH FX analysts report. Japan election sparks market worries over stimulus"JPY is underperforming and JGBs plunged on concerns over a further loosening of Japan’s fiscal discipline. Yesterday, Japanese Prime Minister Sanae Takaichi confirmed plans to dissolve the lower house of parliament on January 23, with official campaigning to start on January 27 and voting on February 8. In parallel, Takaichi reinforced her already pro-stimulus agenda by pledging a two-year break on Japan’s 8% sales tax rate for food if she wins.""In our view, worries over Japan fiscal profligacy are overdone. Japan nominal GDP growth is running at around 4% and leading indicators point to an encouraging growth outlook, while 10-year government bond yields are closer to 2.3%. With growth comfortably exceeding borrowing costs, Japan can sustain primary budget deficits without putting its debt ratio on an upward trajectory. In this environment, fiscal sustainability is far less fragile than markets currently imply."

13:22 GBP/JPY Price Forecast: Pound is looking for direction around 213.00
The Pound pulled back from session highs at the 213.50 area against the Japanese Yen on Tuesday, following mixed UK employment figures. Still, downside attempts remain contained above 212.30, leaving the pair in no man’s land.

13:21 GBP mixed amid weak UK labor market – BBH
The British pound rose versus the US dollar but slipped against the euro as UK labor market data showed persistent weakness, with job losses accelerating in December and over 2025.

The British pound rose versus the US dollar but slipped against the euro as UK labor market data showed persistent weakness, with job losses accelerating in December and over 2025. Easing wage growth and subdued private-sector pay leave the Bank of England room for further rate cuts, with markets pricing in a total of 50bps over the next year, pressuring GBP, BBH FX analysts report. Unemployment steady at pandemic-era highs"GBP is up versus USD and down against EUR. UK labor market conditions remain weak. The unemployment rate stuck to near pandemic-era highs at 5.1% vs. 5.1% in October, matching consensus and the Bank of England’s (BOE) projection. However, labor demand worsened as payrolled employment fell -43k in December and -184k over 2025. That’s the fastest annual pace of job cuts since 2021." "Importantly, easing wage pressures leaves room for the BOE to deliver additional cuts later this year. The policy-relevant private sector regular pay growth dropped to a five-year low at 3.6% y/y (consensus: 3.7%) vs. 3.9% in October and is tracking the BOE’s Q4 projection of 3.5%. The swaps curve price-in 80% odds the BOE delivers a total of 50bps of rate cuts to 3.25% over the next twelve months which is a headwind for GBP."

13:19 USD: US-EU trade tensions drive risk-off markets – BBH
US-EU trade tensions are weighing on financial market risk sentiment. Global equity and bond markets are selling off while gold prices hit new record highs. US Dollar (USD) is behaving unusual for a risk off phase, as it’s down against most major currencies, notably Euro (EUR).

US-EU trade tensions are weighing on financial market risk sentiment. Global equity and bond markets are selling off while gold prices hit new record highs. US Dollar (USD) is behaving unusual for a risk off phase, as it’s down against most major currencies, notably Euro (EUR). EUR/USD is up nearly 1.5% since Monday, BBH FX analysts report. Dollar weakness reflects hedging, not 'sell America'"USD weakness likely reflects increased FX hedging by non-US investors holding US dollar securities, and not a 'sell America' trade. Indeed, the US Treasury International Capital (TIC) data showed that in the twelve months to November, foreign investors accumulated a record $1569bn of long-term US securities (treasury bonds & notes, corporate bonds, equities, gov’t agency bonds).""The idea that the Eurozone can weaponize its Treasury holdings if trade tensions with the US escalate does not pass the smell test. The Eurozone is the largest foreign holder of US long-term Treasuries, with 21% of total foreign holdings. However, the depth of the Treasury market means that any coordinated sales by Eurozone investors would have limited impact on Treasury yields. Eurozone holdings of US long-term Treasuries account for less than 5.5% of total Treasury securities outstanding.""Over the longer term, loss of confidence in US trade and security policies, combined with political interference with the Fed’s independence threaten to accelerate the dollar’s declining role as the primary reserve currency. That’s a structural drag on USD. In the near term, we expect USD to continue to trade within the range in place since June last year. Most major central banks are done easing, while the Fed has room to deliver additional rate cuts."

12:57 AUD/USD jumps to near 0.6730 as US Dollar underperforms amid US-EU disputes
The AUD/USD pair trades 0.25% higher to near 0.6730 during the European trading session on Tuesday. The Aussie pair gains as the US Dollar (USD) underperforms its peers amid disputes between the United States (US) and the European Union (EU) over the future of Greenland.

12:49 EUR: High European saving rates weigh on consumption – NOMURA
Elevated household saving rates across Europe are dampening consumption growth, with potential GDP gains of 1–2% if savings revert to pre-pandemic levels, NOMURA's economists report.

Elevated household saving rates across Europe are dampening consumption growth, with potential GDP gains of 1–2% if savings revert to pre-pandemic levels, NOMURA's economists report. ECB, BoE forecast growth assuming savings normalize"Across Europe, saving rates remain elevated, and consumption growth is lackluster. If saving rates normalize to pre-pandemic levels, it would likely add 1-2% to GDP. The ECB and BoE assume that saving rates will fall, adding to GDP growth forecasts for the future, but both highlight risks that savings will remain persistently high.""We expect saving rates to decline due to lower interest rates, demographics, the ability to draw on recent savings, and policy changes; however, we highlight that structural factors likely make households permanently more predisposed to saving than pre-pandemic."

12:47 BoE's Bailey: Geopolitical risks may be underestimated by markets
Bank of England (BoE) Governor Andrew Bailey stated that geopolitical uncertainty is a significant consideration in the central bank’s assessment of financial stability, warning that markets may be underestimating the risks associated with global political tensions and institutional challenges, acco

12:47 US Dollar weakens amid Greenland tariff uncertainty – MUFG
The US Dollar (USD) has softened as investors anticipate that tariffs tied to President Trump’s Greenland plans may be delayed or cancelled, easing immediate trade tensions.

The US Dollar (USD) has softened as investors anticipate that tariffs tied to President Trump’s Greenland plans may be delayed or cancelled, easing immediate trade tensions. With government-mandated selling unlikely, markets are seeing moderate USD outflows driven by private-sector hedging, echoing patterns seen after last year’s post-Liberation Day volatility, MUFG's FX analyst Derek Halpenny reports.Market bets on delay or reversal of US tariffs"The dollar selling yesterday and into today points to global investors making the assumption that the planned tariff action related to President Trump’s wish to purchase Greenland will either be revoked before the effective date of 1st Feb or possibly that date will be pushed back in order to allow for discussions to take place between the US and Europe. That seems more plausible given it is highly unlikely to be resolved within two weeks and it is also highly unlikely that Trump would back down. The UK media is reporting that a call between Trump and Starmer on Sunday had helped convey the fact to Trump that he had misunderstood the reason the military personnel had gone to Greenland – could this help provide justification for cancelling the tariffs?""The intentional selling as a form of retaliation seems very implausible. Governments can hardly force private-sector investors to sell. A look at Treasury holdings data does indicate significant holdings by European investors – the UK USD 800bn; Belgium USD 399bn; Luxembourg USD 328bn; Switzerland USD 243bn; Norway USD 218bn are the largest. But many of these countries (UK for example) are used as intermediaries with the ultimate owner not from that country so the true holdings are much lower. Ireland owns USD 238bn but many US tech companies are the ultimate owners.""The most plausible scenario we see if turmoil related to Trump’s trade policies and other policies escalates further is a repetition, probably to a lesser degree, of what happened post-Liberation Day last year when heavy selling was more a reflection of increased appetite to hedge US dollar exposures. Flow data from that period showed moderate selling of US assets (in April) followed by record buying with investors seen as more interested in increasing hedge ratios. We think there is more of that to come. Certainly Japanese investors have scope to increase hedge ratios while dollar hoarding in China could diminish on increased expectations of further dollar weakness. The trade uncertainty, Fed independence threats, and Trump’s approach to geopolitics generally are all factors that could result in a sudden pick up in appetite for reducing US dollar exposures. The cost involved in that should also cheapen if we see the Fed deliver further rate cuts this year."

12:35 Euro boosted by strong foreign inflows – NOMURA
The latest balance of payments data from the euro area (covering November) point to an increasingly positive environment for Euro (EUR), with broadly improving inflows from overseas investors and a gradual slowdown in overseas investments by residents, NOMURA's economist Dominic Bunning reports.

The latest balance of payments data from the euro area (covering November) point to an increasingly positive environment for Euro (EUR), with broadly improving inflows from overseas investors and a gradual slowdown in overseas investments by residents, NOMURA's economist Dominic Bunning reports. UK wage data points to continued BoE easing bias"Equity inflows are positive and increased through most of H2 2025. Despite many investors asking us 'what is the alternative' to US equity investments, financial account flows show persistent foreign inflows into euro area equities, averaging just below EUR40bn per month since June 2025. Meanwhile, euro area residents, on average, bought around EUR25bn of overseas equities over the same period. Debt inflows are also positive, with non-residents buying euro area bonds and euro area investors buying fewer overseas assets. After a big outflow by domestic investors in September, there was a sharp slowing to just EUR10bn of overseas debt purchases in November, the lowest since October 2023. Foreign investors bought a little over EUR40bn of euro area debt in November, and have averaged a touch more than this since June 2025.""Meanwhile, the latest intensification of geopolitical tensions by US President Trump on Greenland is more likely to result in a return to the 'Sell America' theme seen in April 2025, in our view, which would benefit the euro area as one of the few genuine alternative destinations for investments in terms of size and liquidity. The euro area accounts for a significant portion of US external liabilities, and while this masks some beneficial ownership from elsewhere routed through the euro area, it is clear that a rotation out of US investments could have a significantly positive impact on EUR.""On the GBP leg of our trade, today's UK labour market data showed continued soft momentum in wage growth, in our view limiting the risks that many MPC hawks have cited of a significant shift higher in underlying inflation/wage-setting behaviour, though they may need to see more data to be convinced of this view. Other data were not as soft but do not yet point to a meaningful acceleration in the labour market, leaving us happy with our view that the risk for the BoE is tilted towards more rather than fewer rate cuts."

12:26 USD/CHF slides as risk-off sentiment, tariffs weigh
USD/CHF trades in negative territory for a third consecutive day and hovers around 0.7910 on Tuesday during the European session, down 0.80% on the day at the time of writing.

12:19 JPY: Japan’s super-long yields surge 27bps amid fiscal concerns – MUFG
UST bond yields are higher and no doubt yields in the UK and Germany will open higher later this morning following the huge sell-off of super-long JGBs in Japan.

UST bond yields are higher and no doubt yields in the UK and Germany will open higher later this morning following the huge sell-off of super-long JGBs in Japan. The 30-year and 40-year yields jumped 27bps and this move can only be described as a total rout that illustrates a complete loss of confidence in JGBs. Comments from Japan’s Growth Strategy Minister, Minoru Kiuchi certainly didn’t help. He appeared to play down the fiscal link to JGB moves stating that yields move for many different factors and that the government will be 'mindful of fiscal discipline' when implementing the sales tax cut, MUFG's FX analyst Derek Halpenny reports.BoJ under pressure as Yen weakens on bond turmoil"JSDA data highlight the risk of over-dependence on foreign investors in the super-long sector of the JGB market. Foreign investors bought JPY 13.4trn worth of JGBs with a maturity over 10 years in 2025, which was an all-time high in the data series going back to 2005. Trust banks (used by pension funds) were the next biggest buyers but way back on JPY 4.7trn. Foreigners are being stopped out in significant intra-day moves that could have a lasting impact on sentiment. If foreigners turn their back on the JGB market we could see more days like we have had today.""This disruptive sell-off was ultimately self-inflicted and was triggered by PM Takaichi acknowledging that the LDP would include a sales tax cut on food for up to two years in the election manifesto. Investors know that the budget backdrop doesn’t provide scope for this to be financed by revenues and hence the assumption is that additional JGB issuance will be the source of funding. This underlines the perceived indifference of senior government officials and the PM to creating disruptive JGB market conditions and will only reinforce the potential for further selling.""Pressure is now going to build on the BoJ to step in as buyer of last resort. The BoJ is still allowing JGBs to fall off the balance sheet adding to supply although the pace of reduction in JGB purchases will slow from JPY 400bn per month to JPY 200bn in April. But outright buying if we get more days like today will become necessary. The BoJ being behind the curve is also creating selling pressure and this price action will pressure the BoJ to convey a more hawkish message to ensure inflation is brought back to target. The yen is notably weaker (mainly vs non-dollar crosses) and JGB market turmoil will likely reinforce yen selling ahead."

12:06 Eurozone ZEW Survey improves to 40.8 in January, beats 35.2 estimates
Eurozone ZEW Survey - Economic Sentiment jumps sharply to 40.8 in January, beating estimates of 35.2 and December's reading of 33.7.

12:01 Eurozone ZEW Survey – Economic Sentiment above forecasts (35.2) in January: Actual (40.8)
Eurozone ZEW Survey – Economic Sentiment above forecasts (35.2) in January: Actual (40.8)

12:01 Eurozone Construction Output w.d.a (YoY) down to -0.8% in November from previous 0.5%
Eurozone Construction Output w.d.a (YoY) down to -0.8% in November from previous 0.5%

12:01 US Dollar softer as US markets reopen, S&P set to drop – ING
The re-opening of US markets after yesterday's public holiday has seen the dollar a little softer across the board. USD/JPY is the exception – see below. The S&P 500 looks set to reopen at around 1.5% lower than Friday's close.

The re-opening of US markets after yesterday's public holiday has seen the dollar a little softer across the board. USD/JPY is the exception – see below. The S&P 500 looks set to reopen at around 1.5% lower than Friday's close. This would nearly match the sell-off seen in European bourses yesterday. There has been no major news on Greenland overnight, which leaves the market to focus on US President Donald Trump's Davos interviews and social media posts emerging on Wednesday, ING's FX analyst Chris Turner notes.Greenland tensions put focus on Davos and EU-US talks"There was much discussion yesterday over the 'weaponisation of capital' – that Europe could retaliate against the US by pulling some of its $8-12tr of US investments. The discussion sees figures cited like the $27tr Net International Investment Position (NIIP) deficit run by the US after decades of twin deficits. The NIIP represents the stock of US liabilities against its foreign asset position. The latest US release on the NIIP is instructive. Of the $3.2tr increase in US liabilities in the third quarter of last year, around half of that was driven by the valuation effects of US assets." "Those valuation effects are why the European buy-side is in US asset markets. And until the performance outlook for those assets significantly shifts, we are unlikely to see a significant exodus of European capital from the US. At the same time, we note the foreign official sector has been selling US Treasuries for a while now, but has been swamped by private sector demand. That said, we are a little negative on the dollar this year for macro reasons. But a 10% sell-off akin to last April's 'sell America' theme looks unlikely. This is also because the foreign buy-side now has more appropriate FX hedge ratios on US assets than the very underhedged positions being run last April.""Away from geopolitics, today's data calendar in the US only sees the weekly ADP jobs numbers. These are expected at around 10-12k again and support the low-hiring, but not deteriorating, US jobs market. DXY looks as though it wants to explore the downside with risks down to 98.65. But USD/JPY going bid may prevent DXY looking too offered."

12:00 Germany ZEW Survey – Economic Sentiment above forecasts (50) in January: Actual (59.6)
Germany ZEW Survey – Economic Sentiment above forecasts (50) in January: Actual (59.6)

12:00 Germany ZEW Survey – Current Situation came in at -72.7, above forecasts (-75.5) in January
Germany ZEW Survey – Current Situation came in at -72.7, above forecasts (-75.5) in January

12:00 Eurozone Construction Output s.a (MoM) down to -1.1% in November from previous 0.9%
Eurozone Construction Output s.a (MoM) down to -1.1% in November from previous 0.9%

11:54 Spain 9-Month Letras Auction down to 1.998% from previous 1.999%
Spain 9-Month Letras Auction down to 1.998% from previous 1.999%

11:54 Spain 3-Month Letras Auction: 1.954% vs previous 1.974%
Spain 3-Month Letras Auction: 1.954% vs previous 1.974%

11:48 Copper rises toward $13,000 on Dollar weakness – ING
Copper rebounded toward $13,000/t as a weaker dollar and China meeting its GDP target lifted sentiment in industrial metals, ING's commodity experts Ewa Manthey and Warren Patterson note.

Copper rebounded toward $13,000/t as a weaker dollar and China meeting its GDP target lifted sentiment in industrial metals, ING's commodity experts Ewa Manthey and Warren Patterson note.US Copper inventories climb for first time since September"In industrial metals, Copper climbed toward $13,000/t, rebounding after last week’s volatility. The move was driven largely by macro and dollar dynamics. Trump’s threat of new tariffs on several European countries pushed the dollar lower, sparking broad-based metals buying. Sentiment was further supported by China’s GDP meeting the government’s target. This helped stabilize demand expectations following weeks of mixed data.""Meanwhile, Copper inventories in US warehouses tracked by the LME rose for the first time since September 2025. As of yesterday, they increased by 950 tons, climbing from zero. The build follows a notable flip in relative pricing with LME spot now trading above Comex front-month futures, reversing last year’s pattern that drew huge volumes of Copper into the US and left ex-US markets tight. This suggests the extreme tariff-driven distortions that defined much of 2025 may be beginning to normalize."

11:39 Nasdaq 100 faces resistance near 25,870 – Société Générale
The Nasdaq 100 is struggling to break through interim resistance at 25,870, hovering around its 50-day moving average amid a lack of clear directional momentum, Société Générale's FX analysts note.

The Nasdaq 100 is struggling to break through interim resistance at 25,870, hovering around its 50-day moving average amid a lack of clear directional momentum, Société Générale's FX analysts note. Index oscillates around 50-DMA"Nasdaq 100 has struggled to cross the interim resistance at 25870pts, which corresponds to the down gap formed in November. It has been oscillating around the 50‑DMA, underscoring the absence of a clear direction. A move above 25870pts is needed to confirm the next leg of the uptrend." "The low recorded earlier this month near 25085pts serves as short‑term support. Failure to defend this could lead to a deeper pullback towards the ascending trend line drawn since August 2025 at 24640/24500pts."

11:30 Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data. Silver trades at $95.45 per troy ounce, up 1.14% from the $94.38 it cost on Monday.

11:23 Gold Price Forecast: XAU/USD hits fresh highs above $4,700 on trade tensions
Gold (XAU/USD) keeps trading higher on Tuesday, reaching fresh record highs beyond $4,720, fuelled by the risk-averse sentiment as the trade rift between the US and the European Union concerning the status of Greenland escalates.

11:11 EUR/USD rebounds amid EU-US trade tensions – Danske Bank
EUR/USD bounced back into the mid-1.16–1.17 range as investors weighed renewed US–EU trade tensions and the potential impact of a Supreme Court ruling on tariff legality.

EUR/USD bounced back into the mid-1.16–1.17 range as investors weighed renewed US–EU trade tensions and the potential impact of a Supreme Court ruling on tariff legality. With a NATO rift looming and EU leaders possibly considering one-for-one tariff retaliation, the broader environment remains USD-negative, Danske Bank's FX analyst Kristoffer Kjær Lomholt reports.EU may follow China’s playbook on retaliation"After an initial dip, EUR/USD rebounded back into the mid-1.16-1.17 range as markets digested the reignition of the EU-US trade war. With a potential Supreme Court ruling on tariff legality pending, investors appear reluctant to take large directional positions on the back of the weekend developments." "These issues - alongside the emerging risk of a NATO rift - look set to dominate the policy agenda this week. President Trump is scheduled to speak at Davos tomorrow, followed by a meeting of EU leaders on Thursday." "A key question is whether European leaders will follow China's playbook from last year and respond with one-for-one tariff measures to pressure Washington into de-escalation. In our view, the overall backdrop is ultimately USD-negative."

11:02 Greece Current Account (YoY) dipped from previous €-1.088B to €-2.078B in November
Greece Current Account (YoY) dipped from previous €-1.088B to €-2.078B in November

11:01 AUD/JPY hits fresh high since July 2024, around 106.80 as fiscal concerns weigh on JPY
The AUD/JPY cross builds on the previous day's goodish bounce from the 105.20 area, or over a one-week low, and gains strong follow-through positive traction for the second straight day on Tuesday.

11:00 Eurozone Current Account n.s.a: €12.6B (November) vs previous €32B
Eurozone Current Account n.s.a: €12.6B (November) vs previous €32B

11:00 Eurozone Current Account s.a registered at €8.6B, below expectations (€20.3B) in November
Eurozone Current Account s.a registered at €8.6B, below expectations (€20.3B) in November

10:56 Gold and Silver hit record highs on geopolitical stress – ING
Gold and Silver surged to fresh record highs as escalating geopolitical tensions between the US and Europe boosted demand for safe-haven assets.

Gold and Silver surged to fresh record highs as escalating geopolitical tensions between the US and Europe boosted demand for safe-haven assets. Strong year-to-date gains in precious metals reflect investor unease over trade risks, rising US debt, and renewed concerns about central bank independence, ING's commodity experts Ewa Manthey and Warren Patterson note.Safe-haven demand lifts precious metals"Gold and Silver surged to fresh record highs as escalating geopolitical tensions boosted demand for safe-haven assets. The latest catalyst is renewed friction between the US and Europe, with Trump’s intensifying push to take control of Greenland stoking concerns over a potential transatlantic trade conflict.""Both Gold and Silver have extended their strong year-to-date gains. Gold is up around 8%, while Silver has climbed 30%, building on an already robust performance in 2025. The move has been driven by a series of geopolitical shocks, including the US arrest of Venezuela’s leader and the continued uncertainty surrounding Washington’s stance on Greenland.""Adding to the volatility, the Trump administration’s repeated attacks on the Federal Reserve intensified investor concerns about central bank independence. This has reinforced the debasement trade. Investors are favoring Gold and Silver over currencies and government bonds amid rising US debt levels and heightened policy unpredictability."

10:54 EUR/CAD appreciates to near 1.6200 despite risk-off mood
EUR/CAD extends its gains for the third successive day, trading around 1.6200 during the European hours on Tuesday. The currency cross advances as the Euro (EUR) strengthens against its peers despite heightened risk aversion, largely driven by a weaker US Dollar (USD) amid the US–Greenland issue.

10:48 JPY: Japan politics rattle markets, JGB yields surge – ING
Japanese asset markets are under pressure after fresh fiscal promises ahead of the February snap election triggered a sharp sell-off in long-dated government bonds.

Japanese asset markets are under pressure after fresh fiscal promises ahead of the February snap election triggered a sharp sell-off in long-dated government bonds. With inflation expectations rising and real rates falling, yen weakness is intensifying, raising questions over the effectiveness of any future FX intervention, ING's FX analyst Chris Turner notes.USD/JPY drifts toward intervention zone"Japanese asset markets are taking the strain of local politics. Having announced a snap election for 8 February to improve the Liberal Democratic Party's (LDP) standing, Japanese Prime Minister Sanae Takaichi yesterday promised a two-year removal of the 8% food tax. The bond market has not appreciated these fiscal giveaways and 30-year JGB yields are up a huge 25bp." "The sell-off at the long-end of the JGB market is sending ripples through bond markets around the globe. With Japan's fiscal pulse in full swing, it seems inflation expectations are on the rise. Derived through the nine-year inflation-linked JGB, inflation expectations are now up to 1.90%. The Bank of Japan is on a go-slow with its tightening cycle, so real interest rates are falling, and this is dominating yen pricing.""A further sell-off in JGBs would seem to drag USD/JPY towards intervention territory at 159/160. However, if the yen sell-off is a self-inflicted wound from the Japanese government policy, the effectiveness of intervention will become increasingly questionable."

10:43 Brent holds firm despite risk-off markets – ING
ICE Brent edged slightly lower but proved resilient amid a broader risk-off move, supported by a weaker US dollar and firm time-spreads signaling tight spot supply.

ICE Brent edged slightly lower but proved resilient amid a broader risk-off move, supported by a weaker US dollar and firm time-spreads signaling tight spot supply. Supply disruptions in Kazakhstan and renewed strength in the gasoil crack, ahead of the EU ban on Russian-linked refined products, are providing additional support to the Oil complex, ING's commodity experts Ewa Manthey and Warren Patterson note.Trade tensions and weaker USD support Oil"While ICE Brent edged lower yesterday, settling 0.3% lower on the day, it held up relatively well amid the broader risk-off move in markets. This follows the re-emergence of trade tensions between the US and Europe over President Trump's Greenland demands. A weaker US dollar provided some support to Oil and the broader commodities complex. Continued firmness in ICE Brent time-spreads will also help buoy the market, as it suggests a tighter spot physical market.""In Kazakhstan, TengizchevrOil temporarily stopped production at its Tengiz and Korolev fields after two fires broke out at power generators. The producer pumped around 890k b/d over the first three quarters of 2025. Kazakhstan has faced several supply disruptions in recent months, including exports from the CPC terminal in Russia, which were impacted by drone strikes.""The ICE gasoil crack has seen renewed strength in recent days, edging back towards US$25/bbl. The strength in the European middle distillate market coincides with the EU’s ban on refined product imports produced from Russian Oil. The ban comes into effect on 21 January. While trade flows have had time to adjust to the ban, it may still lead to some disruption. The ban will largely affect middle distillate flows from India to Europe. Some Indian refiners are reportedly adjusting their crude purchases to continue selling into the EU."

10:38 Swiss Franc leads G10 as ultimate safe haven – Commerzbank
The Swiss Franc (CHF) outperformed all G10 peers, reaffirming its role as the preferred safe-haven currency amid renewed global uncertainty.

The Swiss Franc (CHF) outperformed all G10 peers, reaffirming its role as the preferred safe-haven currency amid renewed global uncertainty. Near-zero interest rates and limited scope for aggressive easing leave the CHF structurally well supported during periods of heightened risk aversion, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes. CHF outperforms on rising risk aversion"The Swiss franc emerged from yesterday's trading as the biggest winner among the G10 currencies. It is thus proving to be the ultimate safe haven in the current (renewed) uncertain times – at least among currencies. This is by no means surprising. We have often written about what constitutes a safe haven. One important characteristic – strange as it may sound – is low or zero interest rates." "In uncertain times, when an economic slowdown is usually expected, central banks typically lower their interest rates. The higher the key interest rates in a country, the more scope there is for interest rate cuts and the greater the potential for the currency to weaken. If interest rates are close to, or as is currently the case in Switzerland, at zero, this potential is limited. This may be one reason why gold (and other precious metals), which yields no interest, is in such high demand.""Of course, in the event of a crisis, the Swiss National Bank could lower its interest rates into negative territory – it has at least signaled its willingness to do so. But even in Switzerland, we now know that the limit is -0.75%. And as we know from experience with the minimum exchange rate, there is also a limit to fx interventions to weaken the currency. This means that the Swiss franc is likely to remain the most sought-after currency in times of increased risk aversion."

10:34 EUR/USD rallies further as the EU-US trade rift crushes the US Dollar
EUR/USD appreciates for the second consecutive day on Tuesday, reaching levels near 1.1700 at the time of writing, favoured by generalised US Dollar (USD) weakness.

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span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}EUR/USD extends gains for the second consecutive day and approaches 1.1700.Trump's latest tariff threat has triggered a "Sell America" trade.German Producer Price Index declined beyond expectations in December.EUR/USD appreciates for the second consecutive day on Tuesday, reaching levels near 1.1700 at the time of writing, favoured by generalised US Dollar (USD) weakness. US President Donald Trump's threat of additional tariffs on European countries has triggered a "sell America" trade similar to the one that followed the "Liberation Day" in April.A risk-averse sentiment prevails as Trump celebrates the first year of his second term, confirming his will to impose 10% additional tariffs on European countries opposing his plans to annex Greenland. The Eurozone leaders, in the meantime, are meeting in Brussels to discuss how to retaliate against Trump's threat amid an unprecedented trade war between Western allies.In the Eurozone, German producer prices have shown further deflationary trends in December, as the focus now shifts to the German ZEW Economic Sentiment Index. The US markets are reopening after a long weekend on the Martin Luther King Jr. holiday. Still, the US economic calendar is practically empty, with the only release being the ADP weekly report on private-sector employment, and all eyes will be set on President Trump's speech at the Davos forum on Wednesday. Euro Price Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen. USD EUR GBP JPY CAD AUD NZD CHF USD -0.42% -0.37% 0.03% -0.23% -0.38% -0.75% -0.55% EUR 0.42% 0.05% 0.44% 0.19% 0.04% -0.34% -0.13% GBP 0.37% -0.05% 0.41% 0.14% -0.01% -0.38% -0.18% JPY -0.03% -0.44% -0.41% -0.25% -0.41% -0.78% -0.57% CAD 0.23% -0.19% -0.14% 0.25% -0.15% -0.53% -0.31% AUD 0.38% -0.04% 0.01% 0.41% 0.15% -0.37% -0.15% NZD 0.75% 0.34% 0.38% 0.78% 0.53% 0.37% 0.20% CHF 0.55% 0.13% 0.18% 0.57% 0.31% 0.15% -0.20% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Daily Digest Market Movers: Tariff threats hit the Dollar and boost the Euro, for nowTrump's threat of additional tariffs on European countries has triggered a new round of the "Sell America" trade. Investors are selling the US Dollar and US Treasury yields in a de-dollarisation process as confidence in the US authorities fades. This has sent the Euro (EUR) up by nearly 1% against the US Dollar in two days.Data released by Destatis on Tuesday revealed that the German Producer Prices Index contracted 0.2% in December, beyond the -0.1% expected, following a flat reading in November. Year-on-year, producer prices fell at a 2.5% pace, from -2.3% in November and also beyond the -2.4% reading anticipated by the market consensus. The Euro has continued to appreciate after the data.Later on Tuesday, the German ZEW Survey is expected to show that institutional investors' sentiment about the economy continued to improve, reaching 50 in January, which would mark its best reading since July last year, from 45.8 in December and 38.5 in November.On Monday, the final Eurozone Harmonised Index of Consumer Prices (HICP) was revised down to 1.9% year-on-year growth in December, from previous estimates of a 2% reading. The core HICP, however, confirmed a 2.3% year-on-year growth. Monthly inflation was left unrevised at 0.2% and 0.3%, respectively.Technical Analysis: EUR/USD is testing resistance at the 1.1700 areaEUR/USD trades at 1.1695 at the time of writing, testing resistance at the 1.1700 area after breaking the top of the descending channel from late December highs. Technical indicators on the 4-hour chart support the bullish view, as the Moving Average Convergence Divergence (MACD) turned positive, with its histogram expanding. The Relative Strength Index (RSI) is at levels consistent with a strong bullish momentum, although approaching the overbought area.

The pair is now testing resistance at the January 7 and 12 highs, in the 1.1700 psychological area. Further up, the next target is the January 6 high in the 1.1740 area. A bearish reversal might find support at the reverse trendline, now at the 1.1660 area ahead of the 1.1635 intra-day level.(The technical analysis of this story was written with the help of an AI tool.) Economic Indicator Producer Price Index (YoY) The Producer Price Index released by the Statistisches Bundesamt Deutschland measures the average changes in prices in the German primary markets. Changes in the PPI are widely followed as an indicator of commodity inflation. Generally speaking, a high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish). Read more. Last release: Tue Jan 20, 2026 07:00 Frequency: Monthly Actual: -2.5% Consensus: -2.4% Previous: -2.3% Source: Federal Statistics Office of Germany Economic Indicator Producer Price Index (MoM) The Producer Price Index released by the Statistisches Bundesamt Deutschland measures the average changes in prices in the German primary markets. Changes in the PPI are widely followed as an indicator of commodity inflation. Generally speaking, a high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish). Read more. Last release: Tue Jan 20, 2026 07:00 Frequency: Monthly Actual: -0.2% Consensus: -0.1% Previous: 0% Source: Federal Statistics Office of Germany

10:23 Denmark Economy Minister Lose: Can’t rule out ACI trade tool against US tariff threats
Denmark Economy Minister Stephanie Lose said during European trading hours on Tuesday that the government is keeping all options on the table with regards to a response to the United States (US) tariff threats on several European Union (EU) members.

Denmark Economy Minister Stephanie Lose said during European trading hours on Tuesday that the government is keeping all options on the table with regards to a response to the United States (US) tariff threats on several European Union (EU) members.Additional remarksWe can't rule out using ACI (anti coercion instrument) trade tool on US.

We are keeping all options on the table with regards to a response to the US tariff threats.

10:23 EUR/USD breaks higher as political rhetoric lifts FX – ING
EUR/USD pushed above key resistance near 1.1650, supported by firm political messaging from European leaders and improved sentiment.

EUR/USD pushed above key resistance near 1.1650, supported by firm political messaging from European leaders and improved sentiment. While the pair may extend toward the 1.17 area, seasonal US Dollar (USD) support and higher energy prices argue against a sustained Euro (EUR) breakout, ING's FX analyst Chris Turner notes.Euro gains on supportive signals from Europe"With the red lines of sovereignty being threatened, pressure is building for European political leaders to stand firm. FX markets seemed to like the speech from UK Prime Minister Keir Starmer yesterday that tariffs on allies were 'completely wrong'." "EUR/USD broke technical resistance at 1.1640/50 overnight and looks biased to the 1.1690/1700 area. But as above, we think we are far from an environment that would trigger a major dollar sell-off. And again, we re-emphasise that seasonal factors tend to be more dollar-supportive, especially in February. Our one-month forecast of 1.17 for EUR/USD presented in our latest FX Talking feels about right.""In terms of eurozone data today, we will be interested in the German ZEW (expected to head toward one-year highs) and also the eurozone November current account data. This has been euro supportive – but we do acknowledge the recent rise in energy prices, particularly for natural gas, which can weigh on the eurozone's external position. That is another reason not to get carried away with the EUR/USD top-side too soon."

10:17 EUR/JPY returns above 185.00 on Euro strength, sell Japan trade
The Euro is trading higher for the second consecutive day against a weaker Japanese Yen, reaching levels above 185.10 in the early European session on Tuesday, after bouncing from Monday’s lows of 182.69.

10:16 Pound Sterling gains sharply after mixed UK employment data
The Pound Sterling (GBP) rises sharply against its major peers on Tuesday, climbs to near 1.3480 against the US Dollar (USD), after the release of the United Kingdom (UK) employment data for the three months ending in November.

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The labor market report showed that the Unemployment Rate remained steady at 5.1%, while it was expected to drop to 5%.The report also showed that the economy added 82K fresh workers after a reduction in the laborforce by 17K in the three months ending in October.Meanwhile, Average Earnings, a key measure of wage growth, rose at a moderate pace in the quarter ending in November. Average Earnings Excluding Bonuses grew at an annualized pace of 4.5%, as expected, slower than the prior reading of 4.6%. The wage growth measure, including bonuses, rose 4.7%, faster than expectations of 4.6%, but slower than the former release of 4.8%, upwardly revised from 4.7%.Signs of cooling wage growth and a steady jobless rate would prompt expectations of interest rate cuts by the Bank of England (BoE) in the near term.For more cues on the UK’s interest rate outlook, investors will focus on the Consumer Price Index (CPI) data for December, which will be released on Wednesday. The UK CPI report is expected to show that price pressures remained broadly steady.Last week, BoE Monetary Policy Committee (MPC) member Alan Taylor stated that inflation could return to the central bank’s 2% target in mid-2026 more quickly than having to wait until 2027, and projected that interest rates could “normalise to the neutral sooner rather than later”. In the December meeting, the BoE guided that the monetary policy will remain on a “gradual downward path”.Daily Digest Market Movers: Pound Sterling outperforms US Dollar amid US-EU disputeThe Pound Sterling jumps to near 1.3465 against the US Dollar during the European trading session on Tuesday. The GBP/USD pair attracts significant bids after the UK employment data release. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is 0.13% down to near 98.90.The US Dollar extends its losses on Tuesday as “Sell America” trade intensifies due to ongoing disputes between the United States (US) and the European Union (EU) over Greenland.Over the weekend, US President Donald Trump announced 10% tariffs on several EU members and the United Kingdom (UK), leaving scope for further increase, in retaliation for their opposition to Washington’s plans to purchase Greenland.In response, several EU members and UK Prime Minister (PM) Keir Starmer have criticized Trump for invoking a tariff war to fulfill his intentions of acquiring Greenland.Market experts have warned that a prolonged US-EU dispute could result in loss of confidence in Trump’s leadership, a strained alliance with the world’s biggest economy, and the appeal of US assets for a longer period.On the domestic front, investors await Thursday's US Personal Consumption Expenditure Price Index (PCE) data for October and November, which is the Federal Reserve’s (Fed) preferred inflation gauge, to get fresh cues on the interest rate outlook.Currently, traders are confident that the Fed will leave interest rates unchanged in the monetary policy meeting later this month, according to the CME FedWatch tool.Technical Analysis: GBP/USD returns above 20-day EMAGBP/USD rises to near 1.3480 as of writing. Price holds just above the 20-day Exponential Moving Average (EMA) at 1.3433, keeping the short-term bias supported. The 20-day EMA has flattened, indicating consolidation after the prior ascent. The 14-day Relative Strength Index (RSI) at 57 (neutral) reflects balanced momentum with a positive tilt. Measured from the 1.3789 high to the 1.3009 low, the 61.8% Fibonacci retracement at 1.3491 acts as resistance, but a daily close above the same could open a run toward the 78.6% retracement at 1.3622. On pullbacks, a close back below the 20-day EMA at 1.3433 would soften the tone and expose a deeper correction. (The technical analysis of this story was written with the help of an AI tool.) Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

10:00 Dow Jones futures slump due to US-Greenland dispute, EU trade risks
Dow Jones futures fall by 1.25% to near 48,900 during the European session on Tuesday, while S&P 500 and Nasdaq 100 futures decline 1.34% and 1.56% to below 6,900 and 25,300, respectively.

09:56 US Treasury Secretary Bessent: Greenland’s dispute is very different than other trade deals
United States (US) Treasury Secretary Scott Bessent said in the World Economic Forum (WEF) at Davos that tariff threats by President Donald Trump on several European Union (EU) members over Greenland’s dispute is very different than the other trade deals.

09:38 Forex Today: Gold climbs above $4,700 as geopolitical tensions remain high
Here is what you need to know on Tuesday, January 20:

09:31 Silver Price Forecast: XAG/USD hovers around $94.50 after pulling back from fresh highs
Silver price (XAG/USD) inches lower after hitting a fresh record high of $94.76, currently trading around $94.20 per troy ounce during the European hours on Tuesday.

09:30 Switzerland Producer and Import Prices (YoY) fell from previous -1.6% to -1.8% in December
Switzerland Producer and Import Prices (YoY) fell from previous -1.6% to -1.8% in December

09:30 Switzerland Producer and Import Prices (MoM) registered at -0.2%, below expectations (0.2%) in December
Switzerland Producer and Import Prices (MoM) registered at -0.2%, below expectations (0.2%) in December

09:21 EUR/GBP holds gains above 0.8650 after UK employment data
The EUR/GBP cross holds positive ground near 0.8685 during the early European session on Tuesday. The Pound Sterling (GBP) softens against the Euro (EUR) after the UK employment data.

09:03 United Kingdom Claimant Count Rate: 4.4% (December)
United Kingdom Claimant Count Rate: 4.4% (December)

09:01 NZD/USD surges toward 0.5850 near four-month highs
NZD/USD extends its gains for the third successive session, trading around 0.5830 during the early European hours on Tuesday. The pair appreciates to near four-month highs as the US Dollar (USD) comes under pressure from rising uncertainty over the US–Greenland issue.

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The pair appreciates to near four-month highs as the US Dollar (USD) comes under pressure from rising uncertainty over the US–Greenland issue.US President Donald Trump threatened on Saturday that 10% tariff would be levied on goods from European Union (EU) members, effective February 1, until the US is permitted to purchase Greenland. Meanwhile, French President Emmanuel Macron reportedly urged the European Union to activate its “trade bazooka,” a measure that could restrict US access to EU markets or impose export controls, among other potential countermeasures.The Kiwi Dollar also strengthened after the BusinessNZ Performance of Services Index (PSI) climbed to 51.5 in December 2025 from 46.9 in November, returning to expansion and ending the longest contraction streak since the survey began, though it remains below its long-term average of 52.8. Traders have shifted their focus to the New Zealand Consumer Price Index (CPI) inflation report later in the week. The headline CPI is expected to show an increase of 0.5% QoQ in Q4.The People’s Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Tuesday. The one-year and five-year LPRs were at 3.00% and 3.50%, respectively. It is essential to note that any changes in the Chinese economy could impact the New Zealand Dollar (NZD), as both countries are close trading partners. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. How do decisions of the RBNZ impact the New Zealand Dollar? The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair. How does economic data influence the value of the New Zealand Dollar? Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate. How does broader risk sentiment impact the New Zealand Dollar? The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.

09:01 United Kingdom ILO Unemployment Rate (3M) above expectations (5%) in November: Actual (5.1%)
United Kingdom ILO Unemployment Rate (3M) above expectations (5%) in November: Actual (5.1%)

09:01 Germany Producer Price Index (YoY) came in at -2.5%, below expectations (-2.4%) in December
Germany Producer Price Index (YoY) came in at -2.5%, below expectations (-2.4%) in December

09:00 Germany Producer Price Index (MoM) below expectations (-0.1%) in December: Actual (-0.2%)
Germany Producer Price Index (MoM) below expectations (-0.1%) in December: Actual (-0.2%)

09:00 United Kingdom Employment Change (3M) rose from previous -17K to 82K in November
United Kingdom Employment Change (3M) rose from previous -17K to 82K in November

09:00 United Kingdom Claimant Count Change came in at 17.9K below forecasts (18.8K) in December
United Kingdom Claimant Count Change came in at 17.9K below forecasts (18.8K) in December

09:00 United Kingdom Average Earnings Including Bonus (3Mo/Yr) came in at 4.7%, above forecasts (4.6%) in November
United Kingdom Average Earnings Including Bonus (3Mo/Yr) came in at 4.7%, above forecasts (4.6%) in November

09:00 United Kingdom Average Earnings Excluding Bonus (3Mo/Yr) meets forecasts (4.5%) in November
United Kingdom Average Earnings Excluding Bonus (3Mo/Yr) meets forecasts (4.5%) in November

08:20 USD/CAD Price Forecast: Finds temporary support near 20-day EMA
The USD/CAD pair trades 0.13% lower to near 1.3850 during the early European trading session on Tuesday. The Loonie pair is under pressure as the US Dollar (USD) remains on the back foot amid disputes between the United States (US) and the European Union (EU) over the future of Greenland.

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The Loonie pair is under pressure as the US Dollar (USD) remains on the back foot amid disputes between the United States (US) and the European Union (EU) over the future of Greenland.As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.12% down to near 98.90.The investment risk premium of the US Dollar has diminished as President Donald Trump has imposed 10% tariffs on several EU members and the United Kingdom (UK) for opposing Greenland’s acquisition plans, with scope for further increase. In response, EU members have condemned Trump’s tariff tactic and have threatened equal countermeasures.Meanwhile, the Canadian Dollar (CAD) trades higher after mix Consumer Price Index (CPI) data release on Monday. The CPI report showed that price pressures grew at a faster pace on an annualized basis in December, but deflated month-on-month (MoM).USD/CAD technical analysisUSD/CAD trades lower at around 1.3850 as of writing. However, the outlook of the pair remains bullish as the 20-day Exponential Moving Average (EMA) accelerates to 1.3839, and price holds marginally above it, preserving a recovery stance. The 14-day Relative Strength Index (RSI) at 52 (neutral) after a rebound from oversold readings confirms momentum stabilization. Measured from the 1.4139 high to the 1.3642 low, the pair corrects to near the 38.2% Fibonacci retracement at 1.3832 after struggling to stabilze above the 50% Fibonacci retracement at 1.3890.The 20-day EMA’s positive slope supports the bounce, with the pair consolidating above the average. A decisive bounce above the January 16 high of 1.3929 would lead to a fresh upside leg towards the psychological level of 1.4000. On the contrary, a close below 38.2% Fibonacci retracement at 1.3832 would weaken the near-term setup and extend the corrective leg toward 23.6% Fibonacci retracement at 1.3759.(The technical analysis of this story was written with the help of an AI tool.) Economic Indicator Consumer Price Index (YoY) The Consumer Price Index (CPI), released by Statistics Canada on a monthly basis, represents changes in prices for Canadian consumers by comparing the cost of a fixed basket of goods and services. The YoY reading compares prices in the reference month to the same month a year earlier. Generally, a high reading is seen as bullish for the Canadian Dollar (CAD), while a low reading is seen as bearish. Read more. Last release: Mon Jan 19, 2026 13:30 Frequency: Monthly Actual: 2.4% Consensus: 2.2% Previous: 2.2% Source: Statistics Canada

08:08 WTI declines below $59.50 as Iran tensions ease and US-EU trade war fears grow
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $59.25 during the early European trading hours on Tuesday. The WTI price edges lower as Iran supply fears ease, while traders closely monitor the fallout from the United States (US) push to take control of Greenland.

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Tensions in Iran eased over the last few days after rumors of a US attack. Traders will focus on the Greenland situation after Trump threatened to escalate tariffs on eight European countries. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $59.25 during the early European trading hours on Tuesday. The WTI price edges lower as Iran supply fears ease, while traders closely monitor the fallout from the United States (US) push to take control of Greenland. While there weren’t escalating tensions in Iran over the weekend, Supreme Leader Ayatollah Khamenei said that 5,000 people were killed in this month's anti-government protests, per Reuters. Easing tensions in Iran reduces the likelihood of a US attack that could disrupt supplies from a major OPEC oil producer. This, in turn, could weigh on the WTI price. Traders will shift their attention to the Greenland crisis. US President Donald Trump said on Saturday that he would impose an additional 10% import tariff from February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and the United Kingdom (UK) until the US is allowed to buy Greenland. Trump is set to talk about Greenland at the World Economic Forum in Davos, Switzerland, on Wednesday. On Thursday, European Union leaders will convene in Brussels for an emergency summit. Fears of a damaging US-EU trade war could hurt market sentiment and exert some selling pressure on the black gold. "With fears around Iran subsiding over the last few days after rumors of a U.S. attack, the market is now focusing on the Greenland situation and how deep any fallout between the U.S. and Europe could be, as any trade war expansion could impact demand," said Rystad analyst Janiv Shah.The American Petroleum Institute (API) crude oil stockpiles report will be published on Tuesday. A larger-than-expected crude oil inventory draw indicates stronger demand and could boost the WTI price, while a bigger build than estimated signals weaker demand or excess supply, which might drag the WTI price lower. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

07:30 USD/INR revisits all-time high on sustained US Dollar’s demand by Indian importers
The Indian Rupee (INR) extends its losing streak for the fourth trading day against the US Dollar (USD) on Tuesday.

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The USD/INR pair trades close to its all-time high of 91.55, even as the US Dollar is broadly under pressure due to escalating disputes between the United States (US) and the Eurozone over Greenland’s future.USD/INR continues to extend its advance due to sustained US Dollar demand by Indian importers. According to a report from Reuters, strong dollar demand by Indian importers has been a major driving force for the USD/INR pair.The demand for US Dollars by Indian importers remains firm due to the absence of a trade deal announcement between the US and India. Negotiators from both nations have been expressing confidence that they are close to reaching a deal for over six months, but have not reached a consensus yet.The US-India trade stalemate has remained a key dent in the interest of foreign investors toward the Indian stock market. Foreign Institutional Investors (FIIs) have been offloading their stake consistently for over six months. So far in January, FIIs have sold shares worth Rs. 29,315.22 crore.Daily Digest Market Movers: EU members criticized Trump for using tariff tactic to acquire GreenlandThe US Dollar continues to gain against a weakened Indian Rupee despite escalating US-EU disputes. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.1% lower to near 98.90.The appeal of US assets has come under pressure as the dispute over Greenland’s future between both sides of the Atlantic has turned into a trade war.Over the weekend, US President Donald Trump levied 10% tariffs on several European Union (EU) members and the United Kingdom (UK), which will become effective from February 1, and warned that import duty could be increased to 25% if the continent continues to oppose Washington’s plans to purchase and control Greenland.In response, EU members and UK Prime Minister (PM) Keir Starmer have criticized US President Trump for invoking the tariff tool to coerce the continent to fulfill his intentions.Though the outcome of the US-EU tussle has resulted in the US Dollar’s weakness, and the Euro (EUR) has capitalized on the Greenback’s alternative demand, the scenario is unlikely to continue as the size of Europe’s exports to the US is higher than what it imports from the nation, analysts at Societe Generale said.On the domestic front, traders remain confident that the Federal Reserve (Fed) will not cut interest rates in the policy meeting later this month.Meanwhile, Fed Vice Chair for Supervision Michelle Bowman stated in a speech on Friday that the central bank needs to bring interest rates to their neutral level sooner to contain elevated job risks.Technical Analysis: USD/INR reclaims all-time high near 91.55In the daily chart, USD/INR trades at 91.2570. The 20-Exponential Moving Average (EMA) slopes higher and lies below the price at 90.4727, underpinning the advance. The 14-day Relative Strength Index (RSI) at 67.67 signals firm bullish momentum, nearing the overbought threshold.Trend extension would follow as long as the spot remains above the 20-EMA, with dips expected to find support in the 90.4727–90.3268 band. A move into overbought on RSI would validate continuation, while a retreat from the current reading could shift the pair into consolidation.(The technical analysis of this story was written with the help of an AI tool.) Indian Rupee FAQs What are the key factors driving the Indian Rupee? The Indian Rupee (INR) is one of the most sensitive currencies to external factors. The price of Crude Oil (the country is highly dependent on imported Oil), the value of the US Dollar – most trade is conducted in USD – and the level of foreign investment, are all influential. Direct intervention by the Reserve Bank of India (RBI) in FX markets to keep the exchange rate stable, as well as the level of interest rates set by the RBI, are further major influencing factors on the Rupee. How do the decisions of the Reserve Bank of India impact the Indian Rupee? The Reserve Bank of India (RBI) actively intervenes in forex markets to maintain a stable exchange rate, to help facilitate trade. In addition, the RBI tries to maintain the inflation rate at its 4% target by adjusting interest rates. Higher interest rates usually strengthen the Rupee. This is due to the role of the ‘carry trade’ in which investors borrow in countries with lower interest rates so as to place their money in countries’ offering relatively higher interest rates and profit from the difference. What macroeconomic factors influence the value of the Indian Rupee? Macroeconomic factors that influence the value of the Rupee include inflation, interest rates, the economic growth rate (GDP), the balance of trade, and inflows from foreign investment. A higher growth rate can lead to more overseas investment, pushing up demand for the Rupee. A less negative balance of trade will eventually lead to a stronger Rupee. Higher interest rates, especially real rates (interest rates less inflation) are also positive for the Rupee. A risk-on environment can lead to greater inflows of Foreign Direct and Indirect Investment (FDI and FII), which also benefit the Rupee. How does inflation impact the Indian Rupee? Higher inflation, particularly, if it is comparatively higher than India’s peers, is generally negative for the currency as it reflects devaluation through oversupply. Inflation also increases the cost of exports, leading to more Rupees being sold to purchase foreign imports, which is Rupee-negative. At the same time, higher inflation usually leads to the Reserve Bank of India (RBI) raising interest rates and this can be positive for the Rupee, due to increased demand from international investors. The opposite effect is true of lower inflation.

07:27 GBP/JPY ticks up to near 212.40 ahead of UK employment data
The GBP/JPY pair edges higher to near 212.45 during the Asian trading session on Tuesday. The pair ticks up as the Japanese Yen (JPY) underperforms its peers, following the announcement of a snap election by Japan’s Prime Minister (PM) Sanae Takaichi on Monday.

07:09 US President Donald Trump: We will be talking about Greenland in Davos
US President Donald Trump said on Tuesday that he will be talking about Greenland in Davos, Switzerland.

07:00 USD/CHF softens to near 0.7950 as Trump's tariff threats drive safe-haven demand for Swiss Franc
The USD/CHF pair trades in the negative territory for the third consecutive day around 0.7960 during the early European trading hours on Tuesday. The Swiss Franc (CHF) strengthens against the Greenback as US President Donald Trump's tariff threats spark safe-haven demand.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/CHF weakens to near 0.7960 in Tuesday’s early European session. Trump’s tariff threats have prompted the so-called "Sell America" trade. Traders brace for the Swiss December Producer and Import Prices data and SNB’s Schlegel speech. The USD/CHF pair trades in the negative territory for the third consecutive day around 0.7960 during the early European trading hours on Tuesday. The Swiss Franc (CHF) strengthens against the Greenback as US President Donald Trump's tariff threats spark safe-haven demand. Trump said on Saturday that he would impose 10% tariffs on February 1 on goods from Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden and the United Kingdom. It would rise to 25% if an agreement is not reached by June 1. Threats from the US towards the European Union over the future of Greenland triggered the so-called "Sell America" trade, which exerted some selling pressure on the US Dollar (USD) across the board. “Investors were dumping dollar assets on fears of prolonged uncertainty, strained alliances, a loss of confidence in U.S. leadership, potential retaliation and an acceleration of de-dollarization trends," said Tony Sycamore, market analyst at IG in Sydney.Traders will keep an eye on the Swiss Producer and Import Prices for December later on Tuesday, along with the speech from the Swiss National Bank (SNB) Chairman Martin Schlegel. Meanwhile, any signs of escalating geopolitical tensions or economic uncertainty could boost the Swiss Franc, as it is considered a safe-haven currency. Swiss Franc FAQs What key factors drive the Swiss Franc? The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in. How do decisions of the Swiss National Bank impact the Swiss Franc? The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF. How does economic data influence the value of the Swiss Franc? Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate. How does the Eurozone monetary policy affect the Swiss Franc? As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.

07:00 When is the UK Jobs report and how could it affect GBP/USD?
The United Kingdom (UK) docket has the labor market report to be released by the Office for National Statistics (ONS) on Tuesday, later this session at 07:00 GMT.

06:35 India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Tuesday, according to data compiled by FXStreet.

06:20 Gold holds steady near record high as safe-haven demand counters USD uptick
Gold (XAU/USD) extends its sideways consolidative price move through the Asian session on Tuesday and remains close to the all-time peak touched the previous day amid mixed fundamental cues.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Gold is seen oscillating in a narrow band near the record high amid mixed fundamental cues.A USD uptick caps the precious metal amid reduced bets for two more Fed rate cuts this year.Persistent geopolitical uncertainties and trade war fears act as a tailwind for the commodity.Gold (XAU/USD) extends its sideways consolidative price move through the Asian session on Tuesday and remains close to the all-time peak touched the previous day amid mixed fundamental cues. The US Dollar (USD) attracts some buyers and recovers a part of the overnight pullback from its highest level since December 9 amid reduced bets for two more interest rate cuts by the Federal Reserve (Fed). Furthermore, civil unrest in Iran seems to have subsided, reducing the likelihood of a US intervention and turning out to be another factor acting as a headwind for the commodity.However, the protracted Russia-Ukraine war keeps geopolitical risks in play. Adding to this, concerns about a possible trade war between the US and Europe, amid rising tensions over Greenland, continue to weigh on investors' sentiment and offer support to the safe-haven Gold. Traders also seem reluctant and opt to wait for the release of the US Personal Consumption Expenditure (PCE) Price Index on Thursday. The crucial data would offer more cues about the Fed's future policy path, which, in turn, will drive the USD and provide a fresh impetus to the non-yielding yellow metal.Daily Digest Market Movers: Gold retains bullish bias amid the global flight to safetyUS President Donald Trump seems to have stepped back from his earlier threats of military action against Iran on the back of Tehran’s brutal crackdown on protests. This, along with the emergence of some US Dollar buying, keeps the Gold below the all-time peak and the $4,700 mark through the Asian session on Tuesday.Traders trimmed their bets for more aggressive policy easing by the US Federal Reserve in 2026 after Trump said that he would prefer to keep National Economic Council director Kevin Hassett in his current role. This suggests that someone else will succeed the outgoing Fed Chair Jerome Powell, which underpins the USD.Russia launched a barrage of drone strikes on Ukraine's energy infrastructure overnight on Monday, triggering widespread power outages across the country amid freezing temperatures and high demand. Russian forces also launched a combined drone and missile attack on the Ukrainian capital of Kyiv early on Tuesday.Trump threatened over the weekend that he would impose additional 10% levies from February 1 on goods imported from eight European nations that stand in his way to acquire Greenland. France proposed responding with a range of previously untested economic countermeasures, raising the risk of a US-EU trade war.Investors now look forward to the release of the US Personal Consumption Expenditure (PCE) Price Index – the Fed's preferred inflation gauge – on Thursday. This will be accompanied by the final US Q3 GDP report and offer more cues about the Fed's rate-cut path, which, in turn, should influence the non-yielding commodity.Gold needs to clear ascending channel resistance to back the case for additional gainsAn ascending channel from $3,845.01 frames the advance. The Moving Average Convergence Divergence (MACD) line extends above the Signal line, with both above zero, reinforcing a bullish bias. The widening positive histogram suggests buyers retain control. RSI at 70.95 is overbought, and momentum looks stretched. Resistance aligns with the channel’s upper boundary near $4,709.61.Failure to clear that cap could trigger consolidation or a pullback within the channel. Channel support stands near $4,401.47. A contraction in the MACD histogram would hint at fading momentum, while a moderation in RSI from overbought would ease upside pressure. A sustained break above the upper boundary could extend the uptrend, whereas dips would be expected to hold on approaches to the lower band.(The technical analysis of this story was written with the help of an AI tool.) Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

06:18 US Dollar Index slips below 99.00 as US-EU tension escalates
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second consecutive day. The DXY is trading around 98.90 during the Asian hours on Tuesday.

06:11 EUR/JPY Price Forecast: Constructive view prevails, first upside barrier emerges above 185.00
The EUR/JPY cross trades on a flat note near 184.15 during the early European session on Tuesday. Japan's Prime Minister Sanae Takaichi said on Monday that she will dissolve parliament this week and hold a snap election on February 8.

05:29 GBP/USD remains steady near 1.3450 ahead of UK labor data
GBP/USD holds ground after registering modest gains in the previous session, trading around 1.3430 during the Asian hours on Tuesday. The pair moves little as traders adopt caution ahead of labor market data from the United Kingdom (UK) due later in the day.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}GBP/USD steadies as traders adopt caution ahead of UK labor market data.The ILO Unemployment Rate may ease to 5%, while Average Earnings, including bonuses, are seen slowing to 4.6%.President Trump said a 10% tariff on goods from eight European countries would take effect on February 1 over Greenland.GBP/USD holds ground after registering modest gains in the previous session, trading around 1.3430 during the Asian hours on Tuesday. The pair moves little as traders adopt caution ahead of labor market data from the United Kingdom (UK) due later in the day. Focus will shift toward the UK Consumer Price Index (CPI) and Retail Sales figures for December later in the week.The ILO Unemployment Rate is forecast to ease to 5% from 5.1% in the three months to November, the highest since early 2021. Meanwhile, Average Earnings Including Bonuses are expected to slow to 4.6% from 4.7%.The GBP/USD pair could further gain ground as the US Dollar (USD) comes under pressure from rising uncertainty over the US–Greenland issue. US President Donald Trump said on Saturday that 10% tariff would be levied on goods from EU members Denmark, Sweden, France, Germany, the Netherlands, and Finland, as well as Britain and Norway, effective February 1, until the US is permitted to purchase Greenland. In response, European Union ambassadors agreed on Sunday to step up efforts to deter the tariffs, while also preparing retaliatory measures if the duties are implemented.The Greenback could strengthen as US labor market data have delayed expectations for additional Federal Reserve (Fed) rate cuts until June. Fed officials have indicated limited urgency to ease policy further without clearer evidence that inflation is sustainably moving toward the 2% target. Reflecting this shift, Morgan Stanley analysts revised their 2026 outlook to one rate cut in June followed by another in September, instead of the previously expected cuts in January and April. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

04:47 Japanese Yen rises as intervention fears and safe-haven flow offset political uncertainty
The Japanese Yen (JPY) attracts some dip-buying during the Asian session on Tuesday and stalls the previous day's retracement slide from a one-week high against its American counterpart.

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Expectations that Japanese authorities would intervene to counter further weakness in the domestic currency continue to act as a tailwind for the JPY. Adding to this, rising geopolitical tensions over Greenland, along with renewed trade war fears, weigh on investors' sentiment and further underpin the JPY's safe-haven status.Furthermore, prospects for an early interest rate hike by the Bank of Japan (BoJ) turn out to be another factor supporting the JPY. Traders, however, might opt to wait for the crucial BoJ policy update on Friday before placing fresh bullish bets around the JPY. Apart from this, domestic political uncertainty might contribute to capping the JPY. This, along with the emergence of some US Dollar (USD) buying, might contribute to limiting losses for the USD/JPY pair, which is currently seen trading around the 158.00 mark.Japanese Yen benefits from safe-haven flow, intervention fears; bulls seem hesitant ahead of BoJJapan's Prime Minister Sanae Takaichi said on Monday that she will dissolve parliament this week and hold a snap election on February 8, hoping for a stronger mandate to push through her ambitious fiscally expansionary policies. A strong majority for the ruling Liberal Democratic Party (LDP) in the lower house would give Takaichi more freedom to pursue her agenda, while a slim majority would deepen political uncertainty.Meanwhile, Japan's Finance Minister Satsuki Katayama warned last Friday that all options, including a direct intervention in the market, are available to deal with the recent weakness in the Japanese Yen. Katayama also hinted at the possibility of joint intervention with the US to support the domestic currency. This, along with hawkish Bank of Japan expectations and sustained safe-haven buying, revives the JPY demand on Tuesday.The recent JPY fall to an 18-month trough could add to price pressures and force the BoJ into faster action. In fact, data released last Friday showed that Japan’s inflation has averaged above the BoJ's 2% target for four straight calendar years. Furthermore, a Reuters report, citing sources, suggests that some policymakers inside the BoJ see scope to raise interest rates as early as April, sooner than markets currently expect.The JPY bulls, however, seem reluctant to place aggressive bets and opt to wait for more cues about the timing of the next BoJ rate hike. Hence, the focus remains glued to BoJ Governor Kazuo Ueda's comments during the post-decision press conference on Friday. The BoJ is expected to maintain the status quo at the end of a two-day meeting, after raising the overnight interest rate last month to 0.75%, or the highest in 30 years.US President Donald Trump threatened new tariffs against eight European countries in response to tensions over Greenland. The announcement sparked backlash from European leaders and heightened market uncertainty amid the protracted Russia-Ukraine war, boosting the traditional safe-haven JPY. However, a modest US Dollar uptick helps limit deeper losses for the USD/JPY pair during the Asian session.Traders trimmed their bets for two more interest rate cuts by the US Federal Reserve in 2026 after Trump said that he would prefer to keep National Economic Council director Kevin Hassett in his current role. This, in turn, suggests that someone else will be tapped to succeed the outgoing Fed Chair Jerome Powell, assisting the USD to attract buyers and stall the previous day's retracement slide from over a one-month high.USD/JPY bears have the upper hand while below the 100-hour SMA pivotal resistanceThe overnight bounce from the 61.8% Fibonacci retracement level of the upswing from the January low lacks follow-through strength beyond the 38.2% Fibonacci retracement level and falters ahead of the 100-hour Simple Moving Average (SMA). The latter is currently pegged around the 158.35 region and should act as a key pivotal point. The USD/JPY pair holds beneath this falling average, preserving a bearish bias. The Moving Average Convergence Divergence (MACD) remains near the zero line, with the histogram contracting toward flat, reinforcing a neutral tone. The Relative Strength Index (RSI) stands at 50 (neutral), indicating balance after a modest recovery.Meanwhile, weakness below the 38.2% Fibonacci retracement level shifts focus to the 50% retracement support at 157.80, below which the USD/JPY pair could target the 61.8% retracement at 157.40. On the flip side, recovery attempts would meet initial resistance at the 100-period SMA at 158.35. A sustained move beyond would need improving momentum, with the MACD lifting away from zero and the RSI rising above 55 to strengthen the upside case.(The technical analysis of this story was written with the help of an AI tool.) Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. How does the differential between Japanese and US bond yields impact the Japanese Yen? Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.

04:39 EUR/USD Price Forecast: Tests nine-day EMA barrier near 1.1650
EUR/USD moves little after registering modest gains in the previous session, trading around 1.1640 during the Asian hours on Tuesday. The 14-day Relative Strength Index (RSI) momentum indicator, at 44 (neutral-to-bearish), confirms fading momentum.

04:16 Silver Price Forecast: XAG/USD tumbles to near $93.50 on profit-taking after record high
Silver price (XAG/USD) attracts some sellers to around $93.60 during the Asian trading hours on Tuesday. The white metal edges lower amid some profit taking after reaching a fresh record high in the previous session. The safe-haven demand might help limit Silver’s losses in the near term.

04:04 USD/CAD steadies above 1.3850 as Canadian Dollar weakens on lower Oil prices
USD/CAD edges higher after registering modest losses in the previous session, trading around 1.3870 during the Asian hours on Tuesday.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/CAD steadies as weaker Oil prices, driven by US–EU tensions, weigh on global demand.President Trump said a 10% tariff on goods from eight European countries would take effect February 1 over Greenland.The Greenback may strengthen as US labor data push expectations for further Fed rate cuts to June.USD/CAD edges higher after registering modest losses in the previous session, trading around 1.3870 during the Asian hours on Tuesday. The pair appreciates as the commodity-linked Canadian Dollar (CAD) struggles amid lower Oil prices, given Canada’s status as the largest crude exporter to the United States (US).West Texas Intermediate (WTI) Oil price inches lower after two days of gains, trading around $59.30 per barrel at the time of writing. Crude oil prices edge lower as rising frictions between the United States (US) and the European Union (EU) cloud the outlook for global Oil demand.However, the upside potential in USD/CAD may be limited as the US Dollar comes under pressure from rising uncertainty over the US–Greenland issue. US President Donald Trump said on Saturday that 10% tariff would be levied on goods from EU members Denmark, Sweden, France, Germany, the Netherlands, and Finland, as well as Britain and Norway, effective February 1, until the US is permitted to purchase Greenland. In response, European Union ambassadors agreed on Sunday to step up efforts to deter the tariffs, while also preparing retaliatory measures if the duties are implemented.The Greenback could strengthen as US labor market data have delayed expectations for additional Federal Reserve (Fed) rate cuts until June. Fed officials have indicated limited urgency to ease policy further without clearer evidence that inflation is sustainably moving toward the 2% target. Reflecting this shift, Morgan Stanley analysts revised their 2026 outlook to one rate cut in June followed by another in September, instead of the previously expected cuts in January and April. Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

03:20 Australian Dollar holds losses following PBOC decision
The Australian Dollar remains subdued against the US Dollar (USD) on Tuesday after registering modest gains in the previous session. The AUD/USD pair remains subdued after the People’s Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Tuesday.

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The AUD/USD pair remains subdued after the People’s Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Tuesday. The one-year and five-year LPRs were at 3.00% and 3.50%, respectively. It is important to note that any change in the Chinese economy could impact the Australian Dollar as both countries are close trading partners.The AUD/USD pair may regain its ground as the US Dollar faces challenges amid escalating uncertainty surrounding the United States (US)–Greenland issue. US President Donald Trump said on Saturday that he would impose tariffs on eight European countries opposing his proposal to acquire Greenland. In response, European Union (EU) ambassadors agreed on Sunday to intensify efforts to deter US President Donald Trump from imposing tariffs on European allies, while also preparing retaliatory measures should the duties move forward.Australia’s TD-MI Inflation Gauge, released on Monday, rose to 3.5% year-over-year (YoY) in December, up from 3.2% previously. On a monthly basis, inflation surged 1.0% month-over-month (MoM) in December 2025, the fastest pace since December 2023 and a sharp acceleration from 0.3% in the prior two months.The AUD could find support as emerging upward price pressures strengthen expectations of tighter monetary policy from the Reserve Bank of Australia (RBA). The International Monetary Fund (IMF) has urged the RBA to remain cautious, highlighting that inflation has stayed above the Bank’s 2%–3% target band for a prolonged period, even though headline CPI eased more quickly than anticipated in November.US Dollar declines amid rising US–Greenland concernsThe US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is extending its losses and trading around 99.00 at the time of writing.President Trump stated that a 10% tariff would be levied on goods from EU members Denmark, Sweden, France, Germany, the Netherlands, and Finland, as well as Britain and Norway, effective February 1, until the US is permitted to purchase Greenland, per Bloomberg.US labor market data have pushed back expectations for further Federal Reserve (Fed) rate cuts until June. Fed officials have signaled little urgency to ease policy further until there is clearer evidence that inflation is sustainably moving toward the 2% target. Morgan Stanley analysts revised their 2026 outlook, now forecasting one rate cut in June followed by another in September, compared with their previous expectation of cuts in January and April.The US Department of Labor (DOL) reported on Thursday that Initial Jobless Claims unexpectedly fell to 198K in the week ended January 10, below market expectations of 215K and down from the prior week’s revised 207K. The data confirmed that layoffs remain limited and that the labor market is holding up despite an extended period of high borrowing costs.US Core Consumer Price Index (CPI), excluding food and energy, rose 0.2% in December, below market expectations, while annual core inflation held at 2.6%, matching a four-year low. The data provided a clearer sign of easing inflation after earlier releases were skewed by shutdown effects. Meanwhile, CPI increased by 0.3% month-over-month in December 2025, matching market expectations and repeating the rise seen in September. The annual inflation remains at 2.7% increase as expected.Data from the National Bureau of Statistics showed on Monday that China’s Industrial Production rose 5.2% year-over-year YoY in December, accelerating from 4.8% in November, supported by resilient export-driven manufacturing activity. Meanwhile, Retail Sales rose 0.9% YoY, undershooting forecasts of 1.2% and November’s 1.3%.China’s Gross Domestic Product (GDP) rose 1.2% quarter-over-quarter in Q4 2025, accelerating from 1.1% in Q3 and exceeding the market consensus of 1.0%. On an annual basis, GDP grew 4.5% in Q4, easing from 4.8% in the previous quarter but coming in above expectations of a 4.4% reading.RBA policymakers acknowledged that inflation has eased significantly from its 2022 peak, though recent data suggest renewed upward momentum. Headline CPI slowed to 3.4% YoY in November, the lowest reading since August, but remains above the RBA’s 2–3% target band. Meanwhile, trimmed mean CPI edged down to 3.2% from October’s eight-month high of 3.3%.The RBA assessed that inflation risks have modestly tilted to the upside, while downside risks, particularly from global conditions, have diminished. Board members expect only one additional rate cut this year, with underlying inflation projected to remain above 3% in the near term before easing to around 2.6% by 2027.The ASX 30-Day Interbank Cash Rate Futures for February 2026 were trading at 96.35 as of January 16, implying a 22% probability of a rate hike to 3.85% at the next RBA Board meeting.Australian Dollar holds above nine-day EMA at 0.6700The AUD/USD pair is trading around 0.6710 on Tuesday. Daily chart analysis indicates that the pair is consolidating near the nine-day Exponential Moving Average (EMA), pointing to a neutral short-term bias. Meanwhile, the 14-day Relative Strength Index (RSI), at 56.70, remains above the midpoint, reinforcing underlying upside momentum.The AUD/USD pair remains above the nine-day EMA of 0.6700, keeping the bullish bias active and supporting the pair to target 0.6766, its highest level since October 2024. A daily close below the short-term average may bring the 50-day EMA at 0.6646 into focus as initial support. Deeper losses could then extend toward 0.6414, the lowest level since June 2025.AUD/USD: Daily Chart Australian Dollar Price Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.04% 0.07% -0.09% 0.04% 0.08% -0.07% 0.00% EUR -0.04% 0.04% -0.13% 0.01% 0.06% -0.12% -0.02% GBP -0.07% -0.04% -0.15% -0.03% 0.02% -0.15% -0.06% JPY 0.09% 0.13% 0.15% 0.12% 0.17% -0.01% 0.09% CAD -0.04% -0.01% 0.03% -0.12% 0.04% -0.13% -0.03% AUD -0.08% -0.06% -0.02% -0.17% -0.04% -0.17% -0.06% NZD 0.07% 0.12% 0.15% 0.00% 0.13% 0.17% 0.09% CHF -0.01% 0.02% 0.06% -0.09% 0.03% 0.06% -0.09% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote). Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.

03:15 PBOC sets USD/CNY reference rate at 7.0006 vs. 7.0051 previous
The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 7.0006 compared to the previous day's fix of 7.0051 and 6.9576 Reuters estimate.

03:14 NZD/USD weakens below 0.5800 despite Trump’s tariff threats
The NZD/USD pair loses ground to around 0.5790 during the early Asian session on Tuesday, pressured by renewed US Dollar (USD) demand. Nonetheless, the potential downside for the pair might be limited amid the fresh US President Donald Trump trade war.

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Trump threatened escalating tariffs on eight European countries in the way of his ambition to buy Greenland.The Chinese economy slowed to an annualized growth of 4.5% in Q4, compared with an expansion of 4.8% in Q3. The NZD/USD pair loses ground to around 0.5790 during the early Asian session on Tuesday, pressured by renewed US Dollar (USD) demand. Nonetheless, the potential downside for the pair might be limited amid the fresh US President Donald Trump trade war. The US ADP weekly report will be released later on Tuesday. On Saturday, Trump said that he would impose an additional 10% import tariff from February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and the United Kingdom (UK) until the United States (US) is allowed to buy Greenland. The threat by Trump to impose fresh tariffs on eight European countries could boost the "Sell America" narrative and create a tailwind for the pair. Data released by the National Bureau of Statistics on Monday showed that the Chinese economy hit the official target of around 5%, the same growth as in 2024, despite a slowdown to 4.5% in the fourth quarter (Q4) of the year. The quarterly Gross Domestic Product (GDP) eased from 4.8% growth in Q3 and was the weakest quarterly figure since early 2023. The positive Chinese economic data could provide some support to the China-proxy Kiwi, as China is a major trading partner to New Zealand. On Tuesday, the People’s Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged. The one-year and five-year LPRs were at 3.00% and 3.50%, respectively. Traders will closely watch the New Zealand Consumer Price Index (CPI) inflation report on Friday. The headline CPI is expected to show an increase of 0.5% QoQ in Q4. Any signs of softer New Zealand inflation could weigh on the New Zealand Dollar (NZD) as it could reduce the chance of the Reserve Bank of New Zealand (RBNZ) raising interest rates. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. How do decisions of the RBNZ impact the New Zealand Dollar? The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair. How does economic data influence the value of the New Zealand Dollar? Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate. How does broader risk sentiment impact the New Zealand Dollar? The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.

03:05 China PBoC Interest Rate Decision meets expectations (3%)
China PBoC Interest Rate Decision meets expectations (3%)

03:05 PBOC leaves Loan Prime Rates unchanged in January
The People’s Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Tuesday. The one-year and five-year LPRs were at 3.00% and 3.50%, respectively.

02:48 WTI flat lines below mid-$59.00s amid US-EU trade war fears, easing Iran supply concerns
West Texas Intermediate (WTI) US Crude Oil prices struggle to capitalize on the previous day's modest bounce from the vicinity of mid-$58.00s, or a one-week trough, and oscillate in a narrow range during the Asian session on Tuesday.

02:06 Gold Price Forecast: XAU/USD edges higher above $4,650 as Trump tariffs spark safe-haven demand
Gold price (XAU/USD) edges higher to near $4,670 during the early Asian session on Tuesday. The precious metal is set to hit a fresh record high as traders flock to safe-haven assets amid a persistent geopolitical and economic outlook.

01:20 USD/JPY trades flat above 158.00 amid trade war fears
The USD/JPY pair holds steady near 158.15 during the early Asian session on Tuesday. The pair steadies as safe-haven flows offset speculations that Prime Minister Sanae Takaichi may soon call a snap election. Traders await the ADP weekly report later on Tuesday for fresh impetus.

01:11 GBP/USD bounces from key levels as US Dollar falters on geopolitics
GBP/USD caught a much-needed bullish bounce on Monday, driven higher by a broad-market decline in the US Dollar (USD) rather than any particular strength behind the Pound Sterling (GBP).

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Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

01:02 EUR/USD surges above 1.1640 as Trump escalates US–EU trade war
EUR/USD edges higher on Monday up by more than 0.40% as traders ditch the US Dollar as risk appetite deteriorates following Trump’s decision to escalate the US-European Union trade war amid the White House interests over Greenland. The pair trades at 1.1642 after bouncing off daily lows of 1.1576.

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The pair trades at 1.1642 after bouncing off daily lows of 1.1576.Euro rebounds sharply as tariff threats over Greenland spark risk aversionThe financial markets began the week on risk-aversion mode after the White House imposed effective tariffs on February 1 on eight European countries until the US is allowed to buy Greenland. US President Donald Trump doubled down adding that if there’s no agreement, Denmark, Norway, Sweden, France, Germany, the Netherlands and the UK will face much higher duties since June 1.Following Trump’s decision, the Dollar plunged, reacting in the same way when the White House announced April’s 2 Liberation Day last year. The US Dollar Index (DXY), which tracks the buck’s performance against a basket of six currencies, drops 0.32% down at 99.06.Aside from this, the US economic docket remained absent. Worth noting that Federal Reserve officials began their blackout period ahead of the January 27-28 meeting.In Europe, the EU is discussing retaliatory actions which include imposing €93 billion tariffs on American goods. Earlier, inflation data dipped below the European Central Bank 2% threshold, reinforcing that interest rates would remain on hold for the whole year.What’s on the schedule for January 20?The World Economic Forum in Davos would kick in. in Europe the docket will feature the Producer Price Index (PPI) in Germany and the meeting of Economic Finance ministers. In the US, the docket would feature the ADP Employment Change 4-weem average. Euro Price This Month The table below shows the percentage change of Euro (EUR) against listed major currencies this month. Euro was the strongest against the Canadian Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.91% 0.41% 1.08% 1.23% -0.61% -0.14% 0.64% EUR -0.91% -0.55% 0.18% 0.39% -1.12% -0.97% -0.20% GBP -0.41% 0.55% 0.74% 0.95% -0.60% -0.43% 0.35% JPY -1.08% -0.18% -0.74% 0.10% -1.54% -1.64% -0.29% CAD -1.23% -0.39% -0.95% -0.10% -1.64% -1.74% -0.58% AUD 0.61% 1.12% 0.60% 1.54% 1.64% 0.17% 0.96% NZD 0.14% 0.97% 0.43% 1.64% 1.74% -0.17% 0.78% CHF -0.64% 0.20% -0.35% 0.29% 0.58% -0.96% -0.78% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote). Daily digest market movers: Euro rallies as Trump’s erodes Dollar haven appealUS President Donald Trump announced new tariffs of 10% tariffs effective on February 1 to eight countries including Denmark, Norway, Sweden, France, Germany, Finland, the Netherlands and the UK. The duties will be imposed if there’s no agreement over Greenland annex or purchase. He doubled down his bet and said that tariffs would rise to 25% on June 1 unless agreements are reached.The European Union is reportedly preparing up to €93 billion in counter-tariffs on US goods and is also weighing measures that would restrict access for American companies to the European market, signaling a firm response to Washington’s latest trade actions.Data-wise inflation in the Euroarea eased from 2.1% to 1.9% in December, below estimates of 2%. It is the first time since May of last year that inflation is below the ECB’s target. Underlying inflation which excludes food and energy, dipped from 2.4% to 2.3%, according to Eurostat.Technical outlook: EUR/USD bounces off the 200-day SMA, towards 1.1650EUR/USD Daily ChartEUR/USD rips higher on Monday as the Dollar losses its safety appeal on Trump’s trade war with the EU. The pair bounced off the 200-day Simple Moving Average (SMA) at 1.1586, posting a 60 plus pip gain and poised to clear key resistance levels up next.From a momentum standpoint, the Relative Strength Index (RSI) shows buyers gathering some strength, but the index is slightly below its neutral level. Once cleared, it would be confirmation that bulls are outweighing bears and that the EUR/USD would be poised for higher prices.The first key resistance is the 50-day SMA at 1.1656, followed by the 20-day SMA at 1.1695 ahead of 1.1700. A breach of that area could exacerbate a leg-up towards 1.1800. For the bearish case to gain traction, a renewed break below the 200-day Simple Moving Average (SMA) at 1.1586 would be crucial. If broken, down lies 1500, followed by scope for a deeper slide toward the August 1 low at 1.1391. Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

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15:16 United States ADP Employment Change 4-week average declined to 8K in December 27 from previous 11.75K United States ADP Employment Change 4-week average declined to 8K in December 27 from previous 11.75K

14:48 NZD/USD approaches four-month highs at 0.5850 as the US Dollar dives The New Zealand Dollar appreciates for the third consecutive day against a weaker US Dollar on Tuesday.

13:41 CHF: Swiss inflation signals deflation risk, SNB might turn dovish – Rabobank Switzerland faces mild deflationary pressure as December PPI fell -1.8% y/y and January CPI barely stayed positive at 0.1%, keeping markets alert to potential SNB rate cuts.

13:27 JPY weakens as JGBs tumble on fiscal concerns – BBH The Japanese Yen (JPY) underperformed while government bonds plunged following Prime Minister Takaichi’s announcement of a snap election and a pro-stimulus agenda including a two-year food tax break, BBH FX analysts report.

13:21 GBP mixed amid weak UK labor market – BBH The British pound rose versus the US dollar but slipped against the euro as UK labor market data showed persistent weakness, with job losses accelerating in December and over 2025.

12:49 EUR: High European saving rates weigh on consumption – NOMURA Elevated household saving rates across Europe are dampening consumption growth, with potential GDP gains of 1–2% if savings revert to pre-pandemic levels, NOMURA's economists report.

12:47 US Dollar weakens amid Greenland tariff uncertainty – MUFG The US Dollar (USD) has softened as investors anticipate that tariffs tied to President Trump’s Greenland plans may be delayed or cancelled, easing immediate trade tensions.

12:26 USD/CHF slides as risk-off sentiment, tariffs weigh USD/CHF trades in negative territory for a third consecutive day and hovers around 0.7910 on Tuesday during the European session, down 0.80% on the day at the time of writing.

12:19 JPY: Japan’s super-long yields surge 27bps amid fiscal concerns – MUFG UST bond yields are higher and no doubt yields in the UK and Germany will open higher later this morning following the huge sell-off of super-long JGBs in Japan.

12:06 Eurozone ZEW Survey improves to 40.8 in January, beats 35.2 estimates Eurozone ZEW Survey - Economic Sentiment jumps sharply to 40.8 in January, beating estimates of 35.2 and December's reading of 33.7.

12:01 Eurozone ZEW Survey – Economic Sentiment above forecasts (35.2) in January: Actual (40.8) Eurozone ZEW Survey – Economic Sentiment above forecasts (35.2) in January: Actual (40.8)

12:01 Eurozone Construction Output w.d.a (YoY) down to -0.8% in November from previous 0.5% Eurozone Construction Output w.d.a (YoY) down to -0.8% in November from previous 0.5%

12:01 US Dollar softer as US markets reopen, S&P set to drop – ING The re-opening of US markets after yesterday's public holiday has seen the dollar a little softer across the board. USD/JPY is the exception – see below. The S&P 500 looks set to reopen at around 1.5% lower than Friday's close.

12:00 Germany ZEW Survey – Economic Sentiment above forecasts (50) in January: Actual (59.6) Germany ZEW Survey – Economic Sentiment above forecasts (50) in January: Actual (59.6)

12:00 Germany ZEW Survey – Current Situation came in at -72.7, above forecasts (-75.5) in January Germany ZEW Survey – Current Situation came in at -72.7, above forecasts (-75.5) in January

12:00 Eurozone Construction Output s.a (MoM) down to -1.1% in November from previous 0.9% Eurozone Construction Output s.a (MoM) down to -1.1% in November from previous 0.9%

11:54 Spain 9-Month Letras Auction down to 1.998% from previous 1.999% Spain 9-Month Letras Auction down to 1.998% from previous 1.999%

11:54 Spain 3-Month Letras Auction: 1.954% vs previous 1.974% Spain 3-Month Letras Auction: 1.954% vs previous 1.974%

11:48 Copper rises toward $13,000 on Dollar weakness – ING Copper rebounded toward $13,000/t as a weaker dollar and China meeting its GDP target lifted sentiment in industrial metals, ING's commodity experts Ewa Manthey and Warren Patterson note.

11:39 Nasdaq 100 faces resistance near 25,870 – Société Générale The Nasdaq 100 is struggling to break through interim resistance at 25,870, hovering around its 50-day moving average amid a lack of clear directional momentum, Société Générale's FX analysts note.

11:30 Silver price today: Silver rises, according to FXStreet data Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data. Silver trades at $95.45 per troy ounce, up 1.14% from the $94.38 it cost on Monday.

11:11 EUR/USD rebounds amid EU-US trade tensions – Danske Bank EUR/USD bounced back into the mid-1.16–1.17 range as investors weighed renewed US–EU trade tensions and the potential impact of a Supreme Court ruling on tariff legality.

11:02 Greece Current Account (YoY) dipped from previous €-1.088B to €-2.078B in November Greece Current Account (YoY) dipped from previous €-1.088B to €-2.078B in November

11:01 AUD/JPY hits fresh high since July 2024, around 106.80 as fiscal concerns weigh on JPY The AUD/JPY cross builds on the previous day's goodish bounce from the 105.20 area, or over a one-week low, and gains strong follow-through positive traction for the second straight day on Tuesday.

11:00 Eurozone Current Account n.s.a: €12.6B (November) vs previous €32B Eurozone Current Account n.s.a: €12.6B (November) vs previous €32B

11:00 Eurozone Current Account s.a registered at €8.6B, below expectations (€20.3B) in November Eurozone Current Account s.a registered at €8.6B, below expectations (€20.3B) in November

10:56 Gold and Silver hit record highs on geopolitical stress – ING Gold and Silver surged to fresh record highs as escalating geopolitical tensions between the US and Europe boosted demand for safe-haven assets.

10:48 JPY: Japan politics rattle markets, JGB yields surge – ING Japanese asset markets are under pressure after fresh fiscal promises ahead of the February snap election triggered a sharp sell-off in long-dated government bonds.

10:43 Brent holds firm despite risk-off markets – ING ICE Brent edged slightly lower but proved resilient amid a broader risk-off move, supported by a weaker US dollar and firm time-spreads signaling tight spot supply.

10:38 Swiss Franc leads G10 as ultimate safe haven – Commerzbank The Swiss Franc (CHF) outperformed all G10 peers, reaffirming its role as the preferred safe-haven currency amid renewed global uncertainty.

10:34 EUR/USD rallies further as the EU-US trade rift crushes the US Dollar EUR/USD appreciates for the second consecutive day on Tuesday, reaching levels near 1.1700 at the time of writing, favoured by generalised US Dollar (USD) weakness.

10:23 EUR/USD breaks higher as political rhetoric lifts FX – ING EUR/USD pushed above key resistance near 1.1650, supported by firm political messaging from European leaders and improved sentiment.

10:17 EUR/JPY returns above 185.00 on Euro strength, sell Japan trade The Euro is trading higher for the second consecutive day against a weaker Japanese Yen, reaching levels above 185.10 in the early European session on Tuesday, after bouncing from Monday’s lows of 182.69.

10:16 Pound Sterling gains sharply after mixed UK employment data The Pound Sterling (GBP) rises sharply against its major peers on Tuesday, climbs to near 1.3480 against the US Dollar (USD), after the release of the United Kingdom (UK) employment data for the three months ending in November.

10:00 Dow Jones futures slump due to US-Greenland dispute, EU trade risks Dow Jones futures fall by 1.25% to near 48,900 during the European session on Tuesday, while S&P 500 and Nasdaq 100 futures decline 1.34% and 1.56% to below 6,900 and 25,300, respectively.

09:38 Forex Today: Gold climbs above $4,700 as geopolitical tensions remain high Here is what you need to know on Tuesday, January 20:

09:31 Silver Price Forecast: XAG/USD hovers around $94.50 after pulling back from fresh highs Silver price (XAG/USD) inches lower after hitting a fresh record high of $94.76, currently trading around $94.20 per troy ounce during the European hours on Tuesday.

09:30 Switzerland Producer and Import Prices (YoY) fell from previous -1.6% to -1.8% in December Switzerland Producer and Import Prices (YoY) fell from previous -1.6% to -1.8% in December

09:30 Switzerland Producer and Import Prices (MoM) registered at -0.2%, below expectations (0.2%) in December Switzerland Producer and Import Prices (MoM) registered at -0.2%, below expectations (0.2%) in December

09:21 EUR/GBP holds gains above 0.8650 after UK employment data The EUR/GBP cross holds positive ground near 0.8685 during the early European session on Tuesday. The Pound Sterling (GBP) softens against the Euro (EUR) after the UK employment data.

09:03 United Kingdom Claimant Count Rate: 4.4% (December) United Kingdom Claimant Count Rate: 4.4% (December)

09:01 United Kingdom ILO Unemployment Rate (3M) above expectations (5%) in November: Actual (5.1%) United Kingdom ILO Unemployment Rate (3M) above expectations (5%) in November: Actual (5.1%)

09:01 Germany Producer Price Index (YoY) came in at -2.5%, below expectations (-2.4%) in December Germany Producer Price Index (YoY) came in at -2.5%, below expectations (-2.4%) in December

09:00 Germany Producer Price Index (MoM) below expectations (-0.1%) in December: Actual (-0.2%) Germany Producer Price Index (MoM) below expectations (-0.1%) in December: Actual (-0.2%)

09:00 United Kingdom Employment Change (3M) rose from previous -17K to 82K in November United Kingdom Employment Change (3M) rose from previous -17K to 82K in November

09:00 United Kingdom Claimant Count Change came in at 17.9K below forecasts (18.8K) in December United Kingdom Claimant Count Change came in at 17.9K below forecasts (18.8K) in December

09:00 United Kingdom Average Earnings Including Bonus (3Mo/Yr) came in at 4.7%, above forecasts (4.6%) in November United Kingdom Average Earnings Including Bonus (3Mo/Yr) came in at 4.7%, above forecasts (4.6%) in November

09:00 United Kingdom Average Earnings Excluding Bonus (3Mo/Yr) meets forecasts (4.5%) in November United Kingdom Average Earnings Excluding Bonus (3Mo/Yr) meets forecasts (4.5%) in November

07:30 USD/INR revisits all-time high on sustained US Dollar’s demand by Indian importers The Indian Rupee (INR) extends its losing streak for the fourth trading day against the US Dollar (USD) on Tuesday.

07:09 US President Donald Trump: We will be talking about Greenland in Davos US President Donald Trump said on Tuesday that he will be talking about Greenland in Davos, Switzerland.

07:00 When is the UK Jobs report and how could it affect GBP/USD? The United Kingdom (UK) docket has the labor market report to be released by the Office for National Statistics (ONS) on Tuesday, later this session at 07:00 GMT.

06:35 India Gold price today: Gold rises, according to FXStreet data Gold prices rose in India on Tuesday, according to data compiled by FXStreet.

06:20 Gold holds steady near record high as safe-haven demand counters USD uptick Gold (XAU/USD) extends its sideways consolidative price move through the Asian session on Tuesday and remains close to the all-time peak touched the previous day amid mixed fundamental cues.

06:18 US Dollar Index slips below 99.00 as US-EU tension escalates The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second consecutive day. The DXY is trading around 98.90 during the Asian hours on Tuesday.

04:47 Japanese Yen rises as intervention fears and safe-haven flow offset political uncertainty The Japanese Yen (JPY) attracts some dip-buying during the Asian session on Tuesday and stalls the previous day's retracement slide from a one-week high against its American counterpart.

04:04 USD/CAD steadies above 1.3850 as Canadian Dollar weakens on lower Oil prices USD/CAD edges higher after registering modest losses in the previous session, trading around 1.3870 during the Asian hours on Tuesday.

03:15 PBOC sets USD/CNY reference rate at 7.0006 vs. 7.0051 previous The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 7.0006 compared to the previous day's fix of 7.0051 and 6.9576 Reuters estimate.

03:05 China PBoC Interest Rate Decision meets expectations (3%) China PBoC Interest Rate Decision meets expectations (3%)

03:05 PBOC leaves Loan Prime Rates unchanged in January The People’s Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Tuesday. The one-year and five-year LPRs were at 3.00% and 3.50%, respectively.

01:11 GBP/USD bounces from key levels as US Dollar falters on geopolitics GBP/USD caught a much-needed bullish bounce on Monday, driven higher by a broad-market decline in the US Dollar (USD) rather than any particular strength behind the Pound Sterling (GBP).

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