The US Dollar traded in a positive fashion after the Fed left its interest rates unchanged, as widely anticipated, and Chief Powell delivered a neutral message at his press conference.
Here is what you need to know on Thursday, January 30:
The US Dollar Index (DXY) kept the weekly bid bias in place helped by rising yields and Powell’s tone. Another revision of Q4 GDP Growth Rate is due seconded by the weekly Initial Jobless Claims, and Pending Home Sales.
EUR/USD dropped to the sub-1.0400 region, or four-day lows, in response to further strength in the Greenback and prudence ahead of the ECB event on Thursday. The ECB meeting and press conference by President C. Lagarde will take centre stage, followed by preliminary Q4 GDP Growth Rate prints in Germany and the broader Euroland, as well as EMU’s Unemployment Rate, Consumer Confidence and Economic Sentiment.
GBP/USD rebounded from lows in the sub-1.2400 region, eventually ending the day around Tuesday’s closing levels. The BoE’s M4 Money Supply and Consumer Credit figures are expected along with Mortgage Approvals and Mortgage Lending.
USD/JPY remained choppy, trading just above the 155.00 hurdle and fading part of Tuesday’s advance. The usual weekly Foreign Bond Investment figures will be released followed by the speech by the BoJ’s Himino.
AUD/USD retreated for the third consecutive day, this time putting the 0.6200 support to the test. Export and Import Prices in Australia are due along with the speech by the RBA’s Jones.
WTI resumed its bearish leg and broke below the $73.00 mark per barrel to flirt with fresh four-week lows.
Gold prices faced renewed downside pressure, briefly revisiting the $2,750 zone per ounce troy following USD dynamics and the FOMC gathering. Silver prices added to Tuesday’s advance and flirted with multi-day peaks near the $31.00 mark per ounce.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD rose to fresh highs around 1.1240
EUR/USD maintained its bullish momentum on Thursday, climbing to the 1.1240 region as the US Dollar accelerated its decline amid growing concerns about the economic fallout from Trump's tariffs.
GBP/USD picks up pace, challenges 1.3000
GBP/USD made significant gains, edging just pips shy of the psychological 1.3000 barrier. The advance came amid trade war jitters and a sharp sell-off in the Greenback following the announcement of 145% US tariffs on China.
Gold flirts with record peaks near $3,175, Dollar tumbles
Gold continued its record-setting rally on fresh tariff-related headlines, surging past the $3,170 mark per troy ounce after the White House confirmed new tariffs, sparking another round of US Dollar selling.
Cardano stabilizes near $0.62 after Trump’s 90-day tariff pause-led surge
Cardano stabilizes around $0.62 on Thursday after a sharp recovery the previous day, triggered by US Donald Trump’s decision to pause tariffs for 90 days except for China and other countries that had retaliated against the reciprocal tariffs announced on April 2.
Trump’s tariff pause sparks rally – What comes next?
Markets staged a dramatic reversal Wednesday, led by a 12% surge in the Nasdaq and strong gains across major indices, following President Trump’s unexpected decision to pause tariff escalation for non-retaliating trade partners.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.