January 28, 2025 at 12:29PM
Nvidia shares up roughly 5% in pre-market
German economy is facing a deep economic crisis, says BDI industrial association
US futures creep higher in European morning trade
European stocks see a mixed mood to kick off the session
France January consumer confidence 92 vs 90 expected
What are the main events for today?
Eurostoxx futures -0.1% in early European trading
FX option expiries for 28 January 10am New York cut
Dollar bounces back as Trump makes the headlines again
It’s been a pretty quiet session with no major data releases and limited newsflow. The US Dollar consolidated around the daily highs after the overnight jump triggered by Bessent’s and Trump’s tariffs comments.
The greenback has been on a steady retreat since the US inflation data marked the peak in the repricing of rate cuts expectations, but the hawkish tariffs comments keep giving the US Dollar short term boosts.
Elsewhere, Treasury yields continue to pull back from yesterday’s lows as equities found some footing and the mood in the markets improved. Gold is consolidating near yesterday’s lows and a key support zone with the focus now switching to the FOMC decision tomorrow.
In the American session, the main highlight will be the US Consumer Confidence report although the market participants might be waiting for the Fed before committing with more conviction.
This article was written by Giuseppe Dellamotta at www.forexlive.com.