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United States ISM Manufacturing PMI registered at 52.6 above expectations (48.5) in January
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EUR/USD drops for the second straight day down 0.49%, following last Friday’s metals rout which underpinned the Greenback to the detriment of the shared currency. Also the nomination of Kevin Warsh to lead the Federal Reserve and upbeat US economic data drove the pair lower.
The Pound Sterling (GBP) took another step lower amid a cautious stance against the US Dollar on Monday, easing back from recent multi-year highs as investors positioned ahead of a busy week of UK data and the Bank of England's first policy decision of 2026.
Gold price recovers some lost ground to near $4,820 during the early Asian session on Tuesday. The precious metal edges higher following a historic market rout. However, the upside in the near term might be limited, as US President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair.
The Reserve Bank of Australia is widely expected to raise the Official Cash Rate (OCR) to 3.85% from 3.6% after concluding its first monetary policy meeting of 2026.
In the headlines, geopolitical have overshadowed an otherwise benign macro environment in early 2026. While market jitters around the US intervention in Venezuela and the sudden tariff threats over the control of Greenland faded quickly, the events have left a sense of unease of what might come next.
XRP rebounds from last week’s support at $1.50 but struggles below resistance at $1.77. Active addresses on the XRP Ledger dropped below 18,000 on Sunday amid risk-averse sentiment. Retail interest in XRP continues to decline, with futures Open Interest dropping to $2.81 billion.
