Markets were all over the place on Monday. US equities put in a decent recovery, though this did nothing to help beaten down commodity FX, with the Australian Dollar, New Zealand Dollar and Canadian Dollar all getting hammered.
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AUD/USD holds below 0.6200 ahead of Trump’s inauguration
The AUD/USD pair weakens to around 0.6190, snapping the two-day losing streak during the early Asian session on Monday. The markets turn cautious as President-elect Donald Trump will be inaugurated later on Monday. The US market is closed on Monday due to the Martin Luther King Day bank holiday.
USD/JPY ticks lower on strong Machinery Orders data from Japan
USD/JPY attracts some intraday sellers following the release of upbeat Machinery Orders data from Japan and stalls its recovery from sub-155.00 levels, or a nearly four-week low touched on Friday. Furthermore, rising bets that the BoJ will hike rates against later this week contribute to capping the currency pair.
Gold attracts some sellers below $2,700, eyes on Trump's inauguration
Gold price extends its decline to near $2,695 during the early Asian session on Monday. The stronger US Dollar broadly ahead of President-elect Donald Trump’s inauguration exerts some selling pressure on the yellow metal.
Week ahead: Markets on edge as Trump’s inauguration and BoJ decision loom
Markets brace for impact ahead of Trump’s inauguration. BoJ seen raising rates at first gathering of 2025. Euro and Pound traders turn gaze to PMIs. Canada and New Zealand CPI data to shape BoC and RBNZ bets. World Economic Forum in Davos also in focus.
Five keys to trading Trump 2.0 with Gold, Stocks and the US Dollar Premium
Donald Trump returns to the White House, which impacts the trading environment. An immediate impact on market reaction functions, tariff talk and regulation will be seen. Tax cuts and the fate of the Federal Reserve will be in the background.
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