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South Korea S&P Global Manufacturing PMI climbed from previous 50.1 to 51.2 in January
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EUR/USD edges modestly higher after opening with a downside gap, trading near 1.1840 during Monday’s Asian session. However, the pair remains vulnerable to further downside as the US Dollar finds support following President Donald Trump’s nomination of Kevin Warsh as the next Federal Reserve Chair.
Pound Sterling hits four-year highs above 1.3850 on relentless US Dollar selling. GBP/USD appears bullish, positioning for the BoE verdict and US Nonfarm Payrolls. Technically, a Golden Cross on the daily chart suggests more upside for GBP/USD.
Gold halts its correction as sellers take a breather, with the NFP week kicking in. The US Dollar fades its recovery stint as markets weigh a Fed under Warsh. Geopolitical tensions seem to ease. Technically, RSI flirts with midline on the daily chart; Gold is at a critical crossroads.
Bitcoin (BTC) price falls below the $75,000 mark on Monday, having corrected nearly 11% in the previous week and reaching level not seen in nearly 10 months. Market momentum has clearly turned bearish, with technical indicators pointing to further downside toward the next key support at $70,000.
Central banks across both G10 and emerging markets met this week, with most opting to keep policy rates unchanged. Canada, Sweden, Brazil and Chile all held rates steady. Beyond central bank decisions, the Eurozone's solid Q4 GDP growth bolstered the case for the ECB to keep policy rates unchanged next week.
Bitcoin (BTC) price falls below the $75,000 mark on Monday, having corrected nearly 11% in the previous week and reaching level not seen in nearly 10 months. Market momentum has clearly turned bearish, with technical indicators pointing to further downside toward the next key support at $70,000.
