Trading news

Germany 10-y Bond Auction down to 2.16% from previous 2.51%

Silver price (XAG/USD) drops slightly to near $30.50 in Tuesday’s European session.

Further US Dollar (USD) weakness is not ruled out; the major support at 7.2420 is likely out of reach for now. In the longer run, decline in USD seems excessive, but there is potential for a test of 7.2420, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

US Dollar (USD) could break 154.90; the next major support at 154.40 is likely out of reach for now. In the longer run, USD remains weak; if it breaks below 154.90, the next objective will be at 154.40, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

The headline German ZEW Economic Sentiment Index declined to 10.3 in January from 15.7 in December, missing the market consensus of 15.3.

Eurozone ZEW Survey – Economic Sentiment came in at 18, above forecasts (16.9) in January

Germany ZEW Survey – Current Situation registered at -90.4 above expectations (-93.1) in January

Germany ZEW Survey – Economic Sentiment came in at 10.3, below expectations (15.3) in January

EUR/USD corrects lower to near 1.0350 in Tuesday’s European session after surging to 1.0430 on Monday.

Robust momentum indicates New Zealand Dollar (NZD) could break above 0.5700, but it might not be able to maintain a foothold above this level.

EUR/GBP was unfazed this morning by the release of UK labour figures. Wage growth excluding bonuses was slightly higher than expected.

European Central Bank (ECB) policymaker Francois Villeroy de Galhau said on Tuesday that “there is a plausible consensus that we will act at each meeting.” Additional quotes We are not on a pre-set course on rates.

Australian Dollar (AUD) could break above 0.6305; the next major resistance at 0.6350 is likely out of reach for now.

Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data.

GBP/JPY experiences a decline after two consecutive days of gains, trading around 190.90 during the European session on Tuesday.

The first day of Donald Trump's presidency was a volatile one for FX markets. The US Dollar (USD) tumbled before the inauguration as markets got tipped off by media reports that Trump would not impose tariffs on day one.

Statistics Canada is set to release its latest inflation report for December, based on the Consumer Price Index (CPI), this Tuesday.

Pound Sterling (GBP) is expected to continue to advance; the significant resistance at 1.2410 is probably out of reach today. In the longer run, GBP view is positive, anticipating a move to 1.2410, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

EUR/USD remains cheap and oversold despite yesterday’s rebound. We estimate that the pair is still trading around 1.5% below its short-term fair value, signalling some tariff related risk remains in the price, ING’s FX analyst Francesco Pesole notes.

West Texas Intermediate (WTI) Oil price ended a three-day losing streak, holding steady near $76.20 during European trading hours on Tuesday.