Weekly update on interest rate expectationsGold Technical Analysis – Tariffs are back on the menuCan gold extend its winning streak to seven weeks?ECB's de Guindos: It is very important to avoid a trade warEurozone February Sentix investor confidence -12.7 vs -16.3 expectedSNB total sight deposits w.e. 7 February CHF 438.1 bn vs CHF 441.9 bn priorEU is ready to push the trigger in response to Trump, says French foreign ministerEU's von der Leyen to meet with US VP Vance on TuesdayChina says will place greater emphasis on boosting consumption
Markets:
USD leads, JPY lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields up 1 bps to 4.496%Gold up 1.5% to $2,904.46WTI crude up 1.3% to $71.92Bitcoin up 1.1% to $97,592The metal tariffs are no doubt going to come into play but markets are less frightened by all of this, especially on reciprocal tariffs - at least for now. We already got a taste of Trump's ploy last week and the reception this time around is much calmer.
EUR/USD was holding around 1.0290 levels before moving up to 1.0330 during the session and then back down now to 1.0315. Similarly, GBP/USD was around 1.2380 before pushing up to 1.2410 and then now returning back to 1.2385, down slightly on the day.
Meanwhile, gold is also continuing to run hot as it pushes above $2,900 on the day. A seventh straight week of gains beckons for gold as the precious metal continues to thrive in this messy environment.
As we look to US trading later, Trump headlines will continue to be the thing to watch before the focus shifts towards US data later in the week.
This article was written by Justin Low at www.forexlive.com. Read More Details
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