Europe Summary and Highlights 28 January
The USD was mixed in a quiet European morning. USD/JPY fell back around 30 pips to 155.45, while EUR/USD lost around 15 pips to 1.0425. AUD and GBP were fairly steady against the USD, and USD/VCAD a little higher, while EUR/NOK dropped around 3 figures to 11.76.
European morning session
The USD was mixed in a quiet European morning. USD/JPY fell back around 30 pips to 155.45, while EUR/USD lost around 15 pips to 1.0425. AUD and GBP were fairly steady against the USD, and USD/VCAD a little higher, while EUR/NOK dropped around 3 figures to 11.76.
There wasn’t much news of note, with no significant data, but equities and bond yields edged back up after the AI tech led decline on Monday.
Asia session
On Tuesday's Asia session, we have another round of Trump, ordering a halt to federal loans and grant with his Treasury Secretary floating the idea of a 2.5% universal US tariff. USD regained strength and see it outperforming major counterparts. USD/JPY jumped 0.77% to 155.69 with U.S. Treasury Yields opening higher.
The broad sentiment continues to be soft after the rout on Monday. Trump replied his Treasury Secretary earlier comment and says he want tariff to be more than 2.5%, seeing USD jumping further. AUD/USD is down 0.68% at 0.6249, NZD/USD is down 0.6% to 0.5659 while USD/CAD rose 0.17%. Else, EUR/USD is down 0.52% and GBP/USD is down 0.42%.