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EUR/USD, GBP/USD, and EUR/JPY continue to rise following dovish remarks from Fed Chair Jerome Powell. EUR/USD is approaching a key resistance zone between $1.0461 and $1.0533, while GBP/USD has broken through its downtrend line, targeting last week's high at $1.2550. EUR/JPY is rallying towards the ¥164 region, with minor support noted at ¥159.81 to ¥159.70.
Gold prices have retreated from record highs as US inflation exceeded expectations, with consumer prices at 3.0% in January and a core rate of 3.3%. Fed Chairman Jerome Powell indicated no immediate interest rate cuts, while ongoing trade disputes add to market uncertainty. Despite recent declines, the potential to approach the $3,000 mark remains, with $2,800 acting as a key support level.
Bitcoin faces high tension ahead of US inflation data, with investors hopeful for signals of interest rate cuts. The core inflation rate may drop to 3.10%, potentially fueling rate cut expectations, while Thursday's producer price data could influence market movements. The psychological $100,000 mark remains pivotal, with potential declines towards $90,000 if monetary policy disappoints, while sustained gains above $100,000 could lead to a record high near $109,300.
Wall Street experienced a mixed session as investors shifted towards value stocks amid rising Treasury yields and cautious comments from Fed Chair Jerome Powell regarding interest rates. The consumer staples sector gained 0.9%, while Tesla's 6.3% drop weighed on consumer discretionary stocks. As attention turns to the upcoming US inflation report, expectations remain for a 0.3% month-on-month increase in both headline and core inflation, which could influence rate expectations and market dynamics. In Asia, the Hang Seng Tech Index approaches its October 2024 high, while Japan's Nikkei remains indecisive amid economic support and potential hawkish signals from the Bank of Japan.
Ethereum's price has dipped towards $2,600 amid heightened investor anxiety following Powell's speech and ongoing trade disputes. With US inflation data expected mid-week, economists predict a rate of 2.9%, which could influence monetary policy and market sentiment. A critical trading range is identified between $2,000 and $2,500, with potential upward movement contingent on surpassing the $3,000 mark.
Jerome Powell faces intense scrutiny from Congress shortly after Donald Trump's inauguration, amid rising inflation concerns and pressure for interest rate cuts. With PCE inflation at 2.8% and consumer confidence declining, Powell is expected to advocate for patience before making any policy changes, awaiting clearer impacts from the new administration's strategies.
EUR/USD is under pressure as trade disputes escalate, particularly following Trump's announcement of new tariffs on aluminum and steel. Investors are closely watching upcoming US inflation data and Fed Chairman Jerome Powell's speech, which could influence market movements. The trading range remains between 1.02 and 1.04 dollars, with potential shifts towards parity or recovery towards 1.055 dollars depending on economic indicators.
US stock markets experienced mixed results amid tariff news and rising inflation expectations. The S&P 500 fell by 0.24%, while the Nasdaq 100 rose slightly by 0.06%. Focus this week shifts to the upcoming consumer price index report and Federal Reserve Chair Jerome Powell's testimony, with inflation anticipated to rise.
[Bloomberg]
UBS anticipates that the Federal Reserve will begin cutting interest rates later in 2025, despite its recent decision to maintain rates. The Fed's pause follows a period of easing that started in September, driven by high inflation and a strong labor market. Analysts expect inflation to approach the Fed's 2% target by mid-year, paving the way for potential rate reductions.
Jerome Powell
People
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