Here is what you need to know on Wednesday, January 29th:
- The greenback remained the strongest, in spite of a change in the market’s mood during US trading hour. Wall Street finished the day with substantial gains after a mixed Durable Goods Orders report and an upbeat CB Consumer Confidence Index.
- The US Federal Reserve will unveil its latest decision on monetary policy this Wednesday.
- EUR/USD fell to 1.0997, recovering just modestly with US stocks’ advance.
- GBP/USD priced 1.2973, regaining the 1.3000 level later in the day. BOE on Thursday and Brexit on Friday keep weighing on the Pound.
- The Aussie remained under pressure, settling around 0.6750 against the greenback. Australia will publish Q4 inflation data in the upcoming Asian session.
- Gold retreated sharply amid the better market mood. Spot settled at $1,570 a troy ounce
- Crude oil prices recovered modestly, still in the red for the week ahead of stockpiles data
- Crypto Today: Bitcoin must hold above $9000
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AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
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Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
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