Here's what you need to know to trade today Tuesday January 30:
Markets remain cautious early Tuesday amid news surrounding the Chinese real estate crisis and escalating geopolitical tensions. Investors will closely monitor the growth figures of the Fourth quarter Gross Domestic Product (GDP) of Germany and the euro zone. Later, the Conference Board will publish the US consumer confidence index for January and the Bureau of Labor Statistics will report on December JOLTS job openings.
He DXY Dollar Index it rose as high as 104.00 on Monday, but lost traction late in the American session. The strong performance of technology stocks allowed the Nasdaq Composite to gain more than 1% on the day and made it difficult for the US dollar to maintain its strength. Meanwhile, the 10-year US Treasury yield fell below 4.1%, providing additional drag on the dollar.
Early on Tuesday, Asia's major stock indices came under strong downward pressure following reports on Monday that the Hong Kong High Court had ordered the liquidation of Evergrande Group. At the time of writing, Hong Kong's Hang Seng Index is down 2% on the day and the Shanghai Composite is down more than 0.5%.
Meanwhile, CNN reported that US President Joe Biden's response to Sunday's deadly attack on a US soldier will likely be stronger than previous retaliations. Biden is expected to authorize military action, but experts are increasingly concerned about the worsening conflict in the region. In the European session on Tuesday, US stock index futures are trading slightly lower.
Dollar Quote this week
The following table shows the percentage change of the United States Dollar (USD) against the main currencies this week.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.24% | -0.03% | -0.35% | -0.55% | -0.55% | -0.77% | -0.28% | |
| EUR | -0.24% | -0.25% | -0.57% | -0.76% | -0.76% | -1.00% | -0.51% | |
| GBP | 0.01% | 0.26% | -0.33% | -0.53% | -0.51% | -0.75% | -0.27% | |
| CAD | 0.34% | 0.57% | 0.31% | -0.21% | -0.19% | -0.42% | 0.06% | |
| AUD | 0.55% | 0.75% | 0.50% | 0.19% | 0.00% | -0.23% | 0.25% | |
| JPY | 0.54% | 0.75% | 0.64% | 0.19% | 0.00% | -0.25% | 0.25% | |
| NZD | 0.76% | 1.01% | 0.74% | 0.41% | 0.22% | 0.22% | 0.48% | |
| CHF | 0.27% | 0.50% | 0.25% | -0.07% | -0.25% | -0.25% | -0.48% |
The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the euro in the left column and scroll down the horizontal line to the Japanese yen, the percentage change that appears in the box will represent EUR (base)/JPY (quote).
The pair EUR/USD fell below 1.0800 for the first time in more than a month on Monday, but managed to make a technical correction. Early on Tuesday, the pair remains above 1.0800. The German economy is expected to contract at an annual rate of 0.2% in the fourth quarter and the Eurozone economy is expected to stagnate in the same period.
He GBP/USD It retreated on Monday, but had no difficulty limiting its losses. The pair continues to move sideways around 1.2700 on Tuesday.
The Japanese Prime Minister, Fumio Kishida, declared on Tuesday before Parliament that They will do everything possible to reinforce household incomes and added that raising salaries is an urgent issue for his administration. He USD/JPY closed in negative territory on Monday and falls below 147.50 early Tuesday.
Data from Australia has shown that Retail sales fell 2.7% monthly in December, after the 2% increase registered in November. He AUD/USD has risen in the Asian session despite the disappointing data and is now trading above 0.6600.
The price of Gold benefited on Monday from the decline in US yields and escalating geopolitical tensions, and was up more than 0.5% on the day. XAU/USD remains slightly above $2,030 early on Tuesday.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
