EUR/USD PRICE FORECAST: CONSOLIDATION EXPECTED EUR/USD maintains a bid bias above the 1.0400 level. The US Dollar faced selling pressure due to mixed yields. President Trump delivered a virtual speech at the WEF in Davos. The Euro advanced modestly against the US Dollar, but was slightly lower
Gold prices went down after reaching a near three-month high. The U.S. dollar became stronger. People are paying attention to U.S. President Donald Trump’s policies
US natural gas storage increased by 223 billion cubic meters last week (ending January 17). Experts expected a 270 billion cubic meters decrease, but storage went up instead. The previous week, gas storage had dropped by 258 billion cubic meters. After the report, natural gas prices for February delivery rose
EUR/USD PRICE FORECAST: DOLLAR WEAKENS BUT REMAINS VOLATILE EUR/USD rose to six-week highs near 1.0460 but later dropped to around 1.0400. The US Dollar regained strength after hitting multi-week lows, driven by rising US yields. Market fluctuations continue to be influenced by headlines about former President
Germany's economy will likely stay in recession in early 2025. The German Federal Bank shared this in their monthly report. Inflation will stay high in early 2025. Higher fossil fuel prices and private health insurance costs are the main reasons for inflation.
PBOC INJECTS 200BN YUAN, NET DRAIN OF 595BN YUAN The People's Bank of China injected 200bn yuan via a one-year Medium-term Lending Facility (MLF) at a 2% rate. This injection does not offset the 795bn yuan of MLF maturing. The result is a net drain of 595bn yuan
Goldman Sachs CEO David Solomon said Bitcoin is not a threat to the US dollar. He believes the US dollar is very strong and important for the world. The interview took place on January 22, with CNBC. Solomon trusts the dollar will stay important in the future.
Crude oil prices went down on Wednesday. This is the third day in a row that prices have fallen this week. People are worried that there is too much oil in the market. More oil exports are making the oversupply problem worse.
BANK OF JAPAN RATE HIKE AND IMPACT ON YEN The BoJ raised rates as expected, signaling a shift in its policy. The BoJ issued updated economic forecasts following the rate hike. The yen strengthened, causing USD/JPY to dip lower in response to the statement and forecasts. Other yen crosses
Nvidia's stock went up by more than 4%. The increase happened because of good news that made investors want to buy more shares. The biggest reason was a surprise announcement by US President Donald Trump. He announced a big plan to help the US stay a leader in
The S&P 500 stayed mostly the same on Thursday after recently reaching a record high. It went down by 0.1%. The Dow Jones went up a little. The Nasdaq Composite dropped by 0.6%. Nvidia and Amazon's stock prices fell by 2% and 1%, which
EURO DROPS AFTER LAGARDE'S COMMENTS The euro fell on Thursday, extending losses for the second day, after reaching a three-week high. European Central Bank President Christine Lagarde's less aggressive comments led to corrections and profit-taking. Lagarde's comments raised expectations that the ECB may cut