EUR/USD defends gains above 1.0700 amid quiet markets
EUR/USD is oscillating in a narrow range above 1.0700 ahead of the European open. Investors digest the latest comments from US President Joe Biden and Fed Chair Powell. The US Dollar remains on the back foot with yields ahead of Fedspeak.
GBP/USD hovers around 1.2050 amid subdued US Dollar
GBP/USD is trading at around 1.2050, consolidating the renewed uptick heading into Wednesday’s London open. The Cable pair justifies broad-based US Dollar softness amid a mixed market mood and sluggish US Treasury bond yields. A quiet calendar ahead.
Gold bulls seem to lack conviction on the road to recovery Premium
Gold price is attempting another run toward the $1,900 this Wednesday, building on its recovery from four-week troughs of $1,860. The latest uptick in the Gold price could be associated with a broadly subdued United States Dollar.
Why Cosmos price is likely to rally toward $17 in February
Cosmos price continues to display strength as the uptrend seems unfazed by investors who may be taking profit off January's 70% gain. Considering the overall bullish stance in the crypto market, a 15% rally from today’s market value is a conservative estimate.
Soft landing, hard landing, no landing?
The Dollar has started the year on a soft footing on the view that the Fed can respond to a soft US landing, as the Rest of the World recovers. The recent run of data, especially out of the US, questions whether the Fed needs to cut rates at all.
DEEPER DIVE
Rates outlook 2023: Belt up, we’re going down
Bond market returns for 2022 have been horrific, right along the credit curve. For 2023, returns will be helped by a higher starting running yield, and subsequent falls in market rates.
USD rates: Get ready for big falls in rates
The year ahead will mostly feature falling market rates, as the Fed peaks out and the market anticipates future rate cuts. The curve should dis-invert through the year, and ultimately will steepen out from the front end.
XAU/USD pair fades against other Gold pairs
Who doesn’t love trading gold? It’s so far one of the most popular assets in the world, also, one of the most valued, with over $12 trillion capitalization. But what happens when you take XAUUSD and put away the USD part?
FXS Signals
Technical Confluences Detector
Gold bulls need validation from $1,905
Gold price (XAU/USD) rebounds from monthly low, grinding higher around intraday tops surrounding $1,878 heading into Monday’s European session. In doing so, the yellow metal snaps a two-day downtrend amid the sluggish US Dollar, despite the sour sentiment and hawkish Fed sentiment.
Friday’s upbeat US jobs report and ISM Services PMI renewed chatters that the Federal Reserve (Fed) has some room to increase the rates. That said, the US shooting of a Chinese balloon and canceling Beijing’s visit of Antony Blinken, US Secretary of State, weigh on the market’s risk profile.
Key levels to watch
The Technical Confluence Detector shows that the Gold price grinds higher towards the key resistance confluence comprising the Fibonacci 38.2% on one month and Pivot Point one day R1, around $1,903.
CRYPTOCURRENCIES
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: When all signs point north
The Crypto market continues to show bullish signals. Still, a trade-per-trade stance is being implemented as markets are highly elevated since January's 40% rally.
Vechain Price Prediction: No one wants to buy the top
VeChain price continues to display bullish cues, making it a digital asset worth keeping on the immediate watch list. The uptrend may surge at any moment, despite the skeptical market sentiment amongst traders.
Can institutional inflows postpone Solana price from crashing by 21%?
Solana price has stuck to sideways momentum over the last few days as the broader crypto market noted mixed sentiments. However, movement is expected out of the altcoin now that interest from big wallet holders in the asset has risen.
UK central bank to impose 20,000 GBP limit on “Britcoin”, set to launch the CBDC before 2030
While the world is dealing with the hurdles that come with cryptocurrency regulations, many other countries are working on their own form of digital assets. MoTg AY as Central Bank Digital Currency (CBDC), the digital money will be printed and distributed by none other than the Central Bank again.
THE STOCK OF THE DAY
Monday's GOEV plunge meets Tuesday buyers
Canoo (GOEV) stock is trading up more than 3% in Tuesday's premarket after a surprise share offering on Monday helped the EV small-cap to close 12.4% lower. This seemed like a major overreaction from the market, which should have seen this coming. Canoo has over $2 billion worth of orders for its vehicles but needs plenty of capital to ramp up production and bring them to market.
REAL-TIME RATES
Customize your ratesWEEKLY FORECAST
EUR/USD: King Dollar’s comeback on the table Premium
The EUR/USD pair climbed to its highest since last April last Wednesday, hitting 1.1034 in the US Federal Reserve (Fed) monetary policy decision aftermath.
GBP/USD: Risks remain skewed to the downside, with eyes on UK GDP Premium
Having stalled its upward trajectory in the previous week, GBP/USD lost over 300 pips over the week, as the United States and the United Kingdom's central banks' policy announcements failed to provide any support. Strong US employment data exacerbated the pain in Cable.
Gold: Can XAU/USD reclaim $1,900 following NFP-inspired drop? Premium
Following a quiet start to the week, Gold price touched its highest level since April near $1,960 but staged a deep correction toward the end of the week to close below $1,900 for the first time in three weeks.
Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher
Bitcoin (BTC) price is at an inflection point as it continues to rally amid multiple sell signals on lower time frames. The Nonfarm Payrolls (NFP) report, including the unemployment rate and average hourly earnings, is set to be announced on February 3 at 1330 GMT.
FX next week: Interest rates and trade levels
Markets are complete opposites and divided as EUR/USD and DXY. On the EUR side is located Stock indices, all metals to include Gold, Silver and Copper as the big 3 then Commodities. DXY trades opposite but trades along side the bond price. The categories break down further to yields, bonds and interest rates.
Week Ahead: Will the Bank of Japan roll out another surprise? [Video]
![Week Ahead: Will the Bank of Japan roll out another surprise? [Video]](https://editorial.fxstreet.com/images/Macroeconomics/CentralBanks/BOJ/Bank_of_Japan_2010_XtraSmall.jpg)
A volatile week awaits, featuring the first BOJ decision of the year. It’s a close call whether policymakers will adjust their yield strategy again, although even if they don’t, it’s probably only a matter of time. Also a deluge of data releases from the major economies.
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