The US dollar began the week with a strong note while market participants evaluated the implementation of US tariffs during the weekend, while investors should be kept focused on US labor market data throughout this week, as well as in the comments of those responsible for the fees of the Fed.
This is what you need to know on Tuesday, February 4:
The DXY dollar index advanced to the limits of the 110.00 mark while investors digest US tariffs on Canada, Mexico and China, while US yields quoted mixedly. Jolts employment offers will begin the publication of employment -related data, followed by factory orders and the weekly report of the API on US oil supplies. In addition, Musalem and Daly of the Fed.
The EUR/USD collapsed to new minimums in the neighborhood of the 1,0200 region due to the strong rebound of the dollar. The following in the domestic calendar will be the PMIS of Final Services of Hcob in Germany and the euro zone on February 5, along with the production prices in the block and the LANE speech of the ECB.
The GBP/USD managed to bounce from minimums about 1,2250 and recover the 1,2400 area to finish Monday’s session around 1,2400. On the other side of the channel, the PMI of final S&P services will be published on February 5.
The USD/JPY began the week defensively and partially eroding Friday’s progress in mixed US yields and higher profits in the yields of the JGB at 10 years. The following in Japan will be the final Jibun Bank services PMI and average cash profits, all planned for February 5.
The AUD/USD broke below the 0.6100 support to reach minimum of several years due to the dollar rally, US tariffs and the weakness of the Chinese Yuan. The following in Australia will be the PMI of Judo Bank’s final services.
WTI barrel prices flirted with minimums of several weeks near the 72.00 brand per barrel after strengthening the dollar and US tariffs.
Gold prices rose to a historic peak around $ 2,830 per Troy ounce backed by the growing demand for safe refuge amid concerns about a possible global commercial war. Silver prices rose significantly and reversed Friday’s fall, quoting well above the $ 31st brand per ounce.
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.
