TRENDING:

Gold Price

EUR/USD

Wake Up Wall Street (SPX) (QQQ): Can Monday's massive afternoon rally hold?

Ivan Brian FXStreet

Here is what you need to know on Tuesday, January 25:

A massive intraday turnaround for equity markets on Monday sowed increasing confusion for investors. Was this a buy-the-dip turnaround or merely position closing ahead of some big earnings releases and the Fed meeting? To the gentle scribes at FXstreet, it appears the latter as uncertainty is disliked,, and the market needs these events out of the way. Added to this is more uncertainty from rising US-Russia tensions pushing many market participants toward risk aversion.

The dollar remained strong throughout this escalation as currency traders move to the risk-off king. The dollar is at 1.1270 now versus the euro. Bitcoin turned sharply yesterday and perhaps aided the equity rally as it went green early. Bitcoin is steady at $36,300 now. Oil is also calmer at $83.70, while Gold is flat at $1,842.

See forex today

European markets are mixed: Eurostoxx -1.2%, FTSE -0.2% and Dax +0.5%.

US futures are lower: S&P -1.5%, Dow -1% and NASDAQ -2%.

Wall Street (SPY) (QQQ) top news

IMF cuts global growth outlook.

Fed meeting starts today, though the announcement is tomorrow.

IBM reports a big jump in sales, the highest in 10 years, as its beats on top and bottom lines.

Microsoft (MSFT) reports after the close.

Pfizer (PFE) and BioNTech (BNTX) carry out trial new Omicron vaccine.

3M (MMM) beats on top and bottom lines.

Johnson&Johnson (JNJ) just beats on EPS but misses on revenue.

American Express (AXP) beats on revenue and profit.

Logitech (LOGI) raises forecasts, shares up 4% premarket.

General Electric (GE) down 5% on an earnings miss.

Ericsson (ERIC) up 5% premarket on strong earnings.

Upgrades and Downgrades

Source: Benzinga Pro

Economic releases

Like this article? Help us with some feedback by answering this survey:

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

GBP/USD declines as market caution lifts US Dollar

GBP/USD extends its gains for the second successive day, trading around 1.3200 during the Asian hours on Wednesday. The currency pair depreciated as the US Dollar gained momentum, driven by a combination of robust domestic economic data and a complex, mixed geopolitical landscape.

EUR/USD weakens below 1.1400 as Fed hike bets lift US Dollar

The EUR/USD pair trades on a negative note near 1.1380 during the early Asian trading hours on Wednesday. The major pair extends the decline as traders continue to assess the developments surrounding the US-Iran peace deal.

$4,050: Gold dives to fresh two-week low as Fed rate hike bets boost US Dollar

Gold drifts lower for the second straight day – also marking the fifth day of a negative move in the previous six – and drops to a nearly two-week low during the Asian session on Wednesday. Despite easing inflationary concerns in the face of the recent fall in Crude Oil prices, traders have been pricing in a greater chance of a rate hike by the US Federal Reserve.

Global strategy 3Q 2026

With the signing of a framework agreement and subsequent negotiations between the U.S. and Iran in June, the outlook for the third quarter is favorable. Oil prices have already fallen sharply, and futures are pricing in a further decline over the course of the year. This will ease the burden on consumers and reduce uncertainty among businesses, with positive effects on the economy.

"Rearranging the deckchairs on the Titanic": UK's fiscal crisis outlasts another Prime Minister

Keir Starmer's resignation as the UK Prime Minister comes ten years after the Brexit referendum vote, a coincidence that financial markets have been quick to note. The British Pound trades around 1.3220 against the US Dollar on Thursday.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.