Forex Today: Markets remain focused on Trump’s policies

Source Fxstreet

The US Dollar remained on the defensive, adding to Monday’s pullback as further market chatter around US tariffs failed to underpin the initial bullish bias in the currency.

Here is what you need to know on Wednesday, January 22:

The US Dollar Index (DXY) retreated marginally and closed around the 107.60 zone following mixed US yields and rising uncertainty around Trump’s trade policies. The usual weekly Mortgage Applications by MBA are due along with the CB Leading Index, and the API report on US crude oil supplies.

EUR/USD extended its advance following extra USD selling, revisiting the area beyond the 1.0400 barrier on quite a convincing mood. The ECB’s C. Lagarde will speak on Wednesday.

GBP/USD remained well bid above 1.2300 the figure on the back of the persistent downward bias in the Greenback. The UK’s Public Sector Net Borrowing figures will be on the docket.

USD/JPY traded in a volatile fashion around the 155.50 zone as investors remained cautious in light of the upcoming BoJ meeting. Japan’s Balance of Trade is next on tap on January 23 followed by weekly Foreign Bond Investment.

Contrasting with its risky peers, AUD/USD charted humble losses on Tuesday, partially reversing an auspicious start to the week. The Westpac Leading Index is next on tap on the Australian calendar.

WTI prices declined further and approached the $75.00 mark per barrel on the back of the stronger Dollar and investors’ assessment of Trump’s tariffs.

Gold prices rose to two-month peaks past the $2,740 mark per ounce troy in response to rising uncertainty surrounding potential announcements by President Trump. Silver prices added to the positive start to the week and traded closer to the $31.00 mark per ounce.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin Price Crashes Below $93,000: Top 3 ReasonsThe crypto market faced a significant setback today as the Bitcoin price dropped below the $93,000 threshold.
Author  Bitcoinist
Nov 26, 2024
The crypto market faced a significant setback today as the Bitcoin price dropped below the $93,000 threshold.
placeholder
Historical Performance Says Dogecoin Price Could Surge To $2.2, Here’s HowUnlike other meme coins in the market, the Dogecoin price has demonstrated resilience, making a strong recovery after weeks of price declines and consolidation. Highlighting this strength and history of bullish performances, a crypto analyst has predicted that Doge could resume its upward momentum and potentially drive its price to new all-time highs of $2.2.  […]
Author  Bitcoinist
Yesterday 02: 50
Unlike other meme coins in the market, the Dogecoin price has demonstrated resilience, making a strong recovery after weeks of price declines and consolidation. Highlighting this strength and history of bullish performances, a crypto analyst has predicted that Doge could resume its upward momentum and potentially drive its price to new all-time highs of $2.2.  […]
placeholder
XRP Price Resilience Shines: Is a Parabolic Move on the Horizon?XRP price started a fresh increase above the $3.250 level. The price is holding gains and might start another increase if it clears the $3.180 resistance. XRP price traded toward the $3.35 level
Author  NewsBTC
22 hours ago
XRP price started a fresh increase above the $3.250 level. The price is holding gains and might start another increase if it clears the $3.180 resistance. XRP price traded toward the $3.35 level
placeholder
Will Bitcoin price reach $200K after Trump’s inauguration? BitDCA CTO weighs MicroStrategy, El-Salvador impactBitcoin price hit a new all-time high of above $109,000 amid Trump’s inauguration on Monday.
Author  FXStreet
2 hours ago
Bitcoin price hit a new all-time high of above $109,000 amid Trump’s inauguration on Monday.
placeholder
Netflix Smashes Subscription Numbers in Q4 2024: Stock Pops 14%TradingKey - For most global investors, the focus has been on President Donald Trump’s first day back in the Oval Office in the US. While there were a lot of policy reversals and rollbacks on the firs
Author  TradingKey
1 hour ago
TradingKey - For most global investors, the focus has been on President Donald Trump’s first day back in the Oval Office in the US. While there were a lot of policy reversals and rollbacks on the firs
goTop
quote