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Here is what you need to know on Wednesday, January 29th:

  • The greenback remained the strongest, in spite of a change in the market’s mood during US trading hour. Wall Street finished the day with substantial gains after a mixed Durable Goods Orders report and an upbeat CB Consumer Confidence Index.
  • The US Federal Reserve will unveil its latest decision on monetary policy this Wednesday.
  • EUR/USD fell to 1.0997, recovering just modestly with US stocks’ advance.
  • GBP/USD priced 1.2973, regaining the 1.3000 level later in the day. BOE on Thursday and Brexit on Friday keep weighing on the Pound.
  • The Aussie remained under pressure, settling around 0.6750 against the greenback. Australia will publish Q4 inflation data in the upcoming Asian session.
  • Gold retreated sharply amid the better market mood. Spot settled at $1,570 a troy ounce
  • Crude oil prices recovered modestly, still in the red for the week ahead of stockpiles data
  • Crypto Today: Bitcoin must hold above $9000