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European stocks mostly positive to kick off the session
UK and France the laggards, Germany and Spain the leaders
EUR

Spain Q4 preliminary GDP +0.8% vs +0.6% q/q expected
Latest data released by INE - 29 January 2025
EUR

Pound Sterling gains as UK Reeves prioritizes growth and liberalization
The Pound Sterling (GBP) gains against its major peers, except safe-haven currencies such as US Dollar and Japanese Yen (JPY) on Wednesday as United Kingdom (UK) Chancellor of the Exchequer Rachel Reeves reiterated Prime Minister Keir Starmer's positive outlook on the economy, saying that the economy is on the brisk of a “turnaround” in a speech in Oxfordshire.
GBPUSD
BOE
Fed
Inflation
SEO

NZD/USD depreciates to near 0.5650 ahead of Fed policy decision
NZD/USD continues to lose ground for the third consecutive day, trading around 0.5660 during the European hours on Wednesday.
NZDUSD
Macroeconomics
Majors
NewZealand
RBNZ

USD/CHF holds below 0.9050 ahead of Fed rate decision
The USD/CHF pair loses ground to near 0.9035 on Wednesday during the early European trading hours.
USDCHF
Majors
Macroeconomics

Germany February GfK consumer confidence -22.4 vs -20.0 expected
Latest data released by GfK - 29 January 2025
EUR

Germany February GfK consumer confidence -22.4 vs -20.0 expected
Latest data released by GfK - 29 January 2025
EUR



OpenAI says it has evidence China’s DeepSeek used its model to train competitor - FT
The Financial Times with the scoop
market overview


Japan January consumer confidence 35.2 vs 36.6 expected
Latest data released by the Japan Cabinet Office - 29 January 2025
JPY

ForexLive Asia-Pacific FX news wrap: AUD dropped after CPI inflation data
Forex news for Asian trading on Wednesday, January 29, 2025
Session wrap
Wrap Asia

Silver Price Forecast: XAG/USD gains traction to near $30.50, Fed rate decision looms
The Silver price (XAG/USD) trades with mild gains around $30.40 during the Asian trading hours on Wednesday.
Silver
XAGUSD
Commodities
Macroeconomics

EUR/USD inches higher to near 1.0450, upside seems limited amid a risk-off mood
EUR/USD halts its two-day losing streak, trading around 1.0440 during the Asian hours on Wednesday.
EURUSD
Majors
Macroeconomics
Eurozone
ECB

Bets on a February RBA rate cut are solidfying after the inflation data earlier
After February it'll be only a gradual glide path lower
RBA
AUD

FX option expiries for Jan 29 NY cut
FX option expiries for Jan 29 NY cut at 10:00 Eastern Time via DTCC can be found below.
Options
Currencies

Goldman Sachs expects 6 Bank of England interest rate cuts by mid-2026
See inflation pressure easing in the medium term
GBP
BOE
Bitcoin Technical Analysis

GBP/USD holds ground near 1.2450 ahead of Fed policy decision
GBP/USD remains steady after registering losses in the previous session, trading around 1.2440 during the Asian hours on Wednesday.
GBPUSD
Macroeconomics
Majors
UnitedKingdom
BOE

Euro may see a slight uptick if the European Central Bank is cautious this week
The ECB policy decision is due on Thursday, January 30, 2025
ECB

Westpac changes its forecast to a February Reserve Bank of Australia interest rate cut
WPAC say RBA to cut by 25bp on February 18
RBA
AUD

Australian Treasurer Chalmers: The worst of the inflation challenge is well and truly behind us
Australian Treasurer Jim Chalmers said on Wednesday, “the worst of the inflation challenge is well and truly behind us.” He noted further that “the soft landing we have been planning and preparing for is looking more and more likely.” Market reaction AUD/USD was last seen trading at 0.6229, down 0.30% on the day.
Australia
Inflation
AUDUSD
EconomicIndicator

Australian Treasurer Chalmers says worst of inflation is past
Chalmers would like an RBA rate cut
AUD

Australian Dollar declines due to increased likelihood of RBA rate cuts, Fed decision eyed
The Australian Dollar (AUD) extends its losses for the third consecutive day against the US Dollar (USD), driven by lower-than-expected Consumer Price Index (CPI) data from Australia released on Wednesday.
AUDUSD
SEO
Macroeconomics
Australia
Majors

Australian inflation data: RBA rate cut expectations rise higher
But .... government subsidies played a role in CPI moderation, while labour market strength may delay easing.
RBA
AUD

AUD/USD has dropped after the better than expected Q4 inflation data from Australia
The data significantly boosts the prospect of a February rate cut from the Reserve Bank of Australia
RBA
AUD

Australian Q4 2024 inflation headline 2.4% y/y (expected 2.5%)
Q4 and December 2024 month inflation data for Australia - it's the quarterly data that is of most focus
AUD

NZD/USD extends downside to near 0.5650 as traders await Fed rate decision
The NZD/USD pair extends the decline to near 0.5665 during the early Asian session on Wednesday, pressured by the renewed US Dollar (USD) demand.
NZDUSD
Majors
Macroeconomics

Australian inflation data due soon - RBA rate cut speculation for February meeting
Get ready for Australian CPI data release, with estimates hinting at a slight rise in quarterly CPI but a potential easing in annual core inflation. Analysts predict how these figures could influence the RBA's decision in February regarding a possible interest rate cut.
RBA
AUD

Reminder - China, Hong Kong and Singapore are all on holiday today
Widespread market closures across Asia today as part of Lunar New Year holidays.
General

BoJ December 2024 meeting minutes express caution - January brought change though
Rates were kept unchanged at this meeting
BOJ

Google reclassifies U.S. as ‘sensitive country’ alongside China, Russia
Re Trump's 'Gulf of America' comments
Politics
General

Federal Reserve preview: Deutsche Bank says Fed to signal a March rate cut is unlikely
Deutsche Bank expects on hold at this meeting
Fed

One for the Tesla (TSLA) traders: Honda look at launching sub-$30,000 EV in North America
Nikkei had the news on Tuesday
SPX

USD/CAD holds positive ground near 1.4400 ahead of BoC, Fed rate decisions
The USD/CAD pair trades with mild gains around 1.4400 during the early Asian session on Wednesday.
USDCAD
Majors
Macroeconomics
Fed
BOC

Commerzbank raised its gold price forecast for the end of Q1 2025 to $2,700 (prior 2600)
Revised forecast for gold
Gold

U.S. Navy bans use of DeepSeek AI - citing ‘security and ethical concerns’
Banned for personal and work use
General

RBNZ's Conway says policy committee confident inflation will abate
Reserve Bank of New Zealand chief economist Conway: Easing domestic pricing intentions and a drop in inflation expectations will help open the way for some further easing of the OCR, as signalled in November.
RBNZ
NZD

Trump will pay federal workers through to September 30 if they resign by February 6
Free money from Trump?
Politics

Oil - private survey of inventory shows a headline crude oil build less than expected
This is from the privately surveyed oil stock data ahead of official government data tomorrow morning out of the US.
Oil