Trump aides reportedly exploring tariff plans to only cover critical importsThe loonie is in focus on potential Trudeau resignationWeekly update on interest rate expectationsEurozone January Sentix investor confidence -17.7 vs -18.0 expectedEurozone December final services PMI 51.6 vs 51.4 prelimUK December final services PMI 51.1 vs 51.4 prelimSNB total sight deposits w.e. 3 January CHF 439.6 bn vs CHF 445.7 bn priorChina's main stock exchanges reportedly asked large mutual funds to restrict stock sellingNippon Steel files lawsuit over Biden's decision to block US Steel acquisition
Markets:
AUD leads, USD lags on the dayEuropean equities higher; S&P 500 futures up 0.7%US 10-year yields down 0.5 bps to 4.589%Gold up 0.2% to $2,642.93WTI crude up 0.5% to $74.36Bitcoin up 1.3% to $99,503The dollar stumbled as such with EUR/USD rising from 1.0340 to 1.0400 while USD/JPY fell from 157.80 to 156.85 currently. It's a broad based move with GBP/USD also seen up 1% to 1.2540 and USD/CAD down 0.9% to 1.4315 on the day.
It's a case of squeeze the dollar, buy everything else in this instance.
The question now is, will we hear any denials from Trump on this supposedly softer take on tariffs? He's been threatening a big game, so it will be hard to imagine him suddenly turning soft when he takes office later this month.
This article was written by Justin Low at www.forexlive.com. Read More Details
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