Here's what you need to know to trade today Monday January 29:
Activity in financial markets remains subdued early Monday as investors prepare for key central bank meetings and macroeconomic developments this week. No relevant data will be published in the European economic agenda. Later, the Federal Reserve Bank of Dallas will release the Texas Manufacturing Business Index for January.
He US Dollar Index DXY posted slight gains last week, supported by the release of encouraging data. The index remains stable around 103.50 in European morning trading on Monday, while the benchmark 10-year US Treasury yield continues to fluctuate in a narrow channel above 4%. Meanwhile, geopolitical tensions remain high at the start of the week, following news of a drone attack on a US base near Jordan's border with Syria, in which three people died and more than 20 soldiers were injured. Reflecting caution, US stock index futures are trading slightly lower. On Wednesday, the Federal Reserve will announce its monetary policy decision after the first meeting of the year.
Dollar Quote Today
The following table shows the percentage change of the United States Dollar (USD) against the main currencies.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.02% | -0.08% | -0.07% | -0.22% | -0.17% | -0.14% | -0.10% | |
| EUR | 0.03% | -0.04% | -0.03% | -0.18% | -0.11% | -0.10% | -0.07% | |
| GBP | 0.08% | 0.06% | 0.01% | -0.15% | -0.05% | -0.06% | 0.00% | |
| CAD | 0.07% | 0.04% | -0.02% | -0.14% | -0.08% | -0.06% | -0.02% | |
| AUD | 0.22% | 0.20% | 0.14% | 0.16% | 0.09% | 0.09% | 0.14% | |
| JPY | 0.16% | 0.12% | 0.21% | 0.07% | -0.07% | 0.00% | 0.05% | |
| NZD | 0.14% | 0.13% | 0.06% | 0.07% | -0.09% | -0.01% | 0.06% | |
| CHF | 0.11% | 0.06% | 0.00% | 0.02% | -0.14% | -0.05% | -0.05% |
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).
He EUR/USD seems to have entered a consolidation phase around 1.0850 after closing for the second consecutive week in negative territory. On Tuesday, Eurostat will publish the preliminary growth of the Gross Domestic Product (GDP) of the euro zone for the fourth quarter.
He GBP/USD It closed the previous week practically unchanged and extends its sideways trend around 1.2700 early on Monday. UK inflation expectations for the next twelve months fell from 4.2% in October to 3.9% and 3.5% in November and Decemberrespectively, a survey conducted by the US bank Citi and the polling company YouGov showed on Monday. The Bank of England will announce its monetary policy decision on Thursday.
After the indecision of the previous week, the USD/JPY trading down slightly below 148.00 on Monday. In the Asian session on Tuesday, data from December unemployment rate in Japan could generate momentum in the pair.
The price of Gold It posted small losses last week, but managed to regain ground early on Monday. At the time of writing, XAU/USD is up 0.5% on the day at $2,028.
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.
