EUROPEAN MARKETS OPEN IN MIXED TERRITORY
EUROPEAN MARKETS OPEN IN MIXED TERRITORY European markets opened mixed on Friday. Focus remains on corporate earnings, monetary policy, and U.S. jobs data.
Tina Collins
EUR/USD WEAKENS BELOW 1.0400 AHEAD OF US NFP RELEASE
EUR/USD WEAKENS BELOW 1.0400 AHEAD OF US NFP RELEASE EUR/USD softens to around 1.0375 in the Asian session on Friday. US trade policy uncertainty and Trump’s tariff threats weigh on the euro. Market focus shifts to US January Nonfarm Payrolls (NFP) data later on Friday.
GERMANY DECEMBER TRADE BALANCE SURPLUS BEATS EXPECTATIONS
GERMANY DECEMBER TRADE BALANCE SURPLUS BEATS EXPECTATIONS Germany's December trade balance shows a surplus of €20.7 billion, higher than the €17.0 billion expected. Prior month's trade surplus was €19.7 billion. For the year 2024, Germany posted a trade surplus of €241.2 billion.
XRP ETF GAINS TRACTION AS SEC ACKNOWLEDGES GRAYSCALE FILING FOR SOLANA AND LITECOIN FUNDS
XRP got attention on Thursday due to an important filing. The Chicago Board Options Exchange submitted a request to the SEC. The request is to allow trading of XRP exchange-traded funds (ETFs). Asset managers like Canary Capital, WisdomTree, 21Shares, and Bitwise are involved. The SEC also acknowledged filings for Solana
GOLD FOCUSES ON RECORD HIGHS AND US NONFARM PAYROLLS
Gold price is going up again after a short break. It is reaching new record highs. Investors are careful before important US job data (Nonfarm Payrolls) is released.
EUROSTOXX FUTURES EDGE LOWER IN EARLY EUROPEAN TRADING
EUROSTOXX FUTURES EDGE LOWER IN EARLY EUROPEAN TRADING Eurostoxx futures down by 0.2% in early trading. German DAX futures drop by 0.1%, UK FTSE futures down 0.3%. This follows stronger gains yesterday, with Wall Street posting a slight advance. US stocks were driven by tech shares, with
BANK OF ENGLAND GOVERNOR ANDREW BAILEY PRESS CONFERENCE
Interest Rate Cut: The Bank of England lowered interest rates by 0.25% to 4.50% in its first meeting of 2025. Inflation Forecast: Inflation is now expected to peak at 3.7% in Q3 2025 (previous forecast was 2.8%). It should return to the 2% target by Q4
JP MORGAN: US-CHINA TARIFF WAR COULD ESCALATE TO 60%
JP Morgan warns that the US-China trade war might get worse. There is a lot of uncertainty about what will happen next. They believe the US will increase tariffs (taxes on imports) from China. Tariffs could go up to 60%. This means higher costs for Chinese goods in the US.
PBOC SETS USD/CNY REFERENCE RATE FOR TODAY
PBOC SETS USD/CNY REFERENCE RATE FOR TODAY The PBOC set the USD/CNY reference rate at 7.1699, stronger than the estimated 7.2780. The People's Bank of China manages a floating exchange rate system with a +/- 2% fluctuation band around the reference rate.
FEDERAL RESERVE VICE CHAIRMAN JEFFERSON: I PREFER TO KEEP INTEREST RATES STEADY AT CURRENT RATE
No rush to cut rates – The Federal Reserve does not need to lower interest rates now. Keep rates steady – Jefferson prefers to keep interest rates at the current level. Wait and see – The Fed should first see how Trump’s tariffs affect the economy. Impact of Trump’s policies – The
US IMPOSES NEW SANCTIONS ON IRAN'S OIL AND ENERGY SECTOR
US IMPOSES NEW SANCTIONS ON IRAN'S OIL AND ENERGY SECTOR The US Department of the Treasury imposed new sanctions on Iran. Targets include entities and individuals in the crude oil, energy, and shipping sectors. Sanctions also affect those linked to Russia's shadow fleet. The US State
USD/JPY EXTENDS THE REBOUNDS ABOVE 151.50 AHEAD OF US NFP
USD/JPY is rising: The currency pair bounced back above 151.50 after hitting a nearly two-month low. Happening in Asia: This rebound happened during the Asian trading session on Friday. Downside risks remain: Even though USD/JPY is going up now, it may still fall. Why?: The Bank of