Hello and welcome to your market roundup for Monday, January 20th. Let’s dive into today’s key economic highlights and market movements.
Germany’s Producer Price Index (PPI) fell by 0.1%, below the forecast of 0.3%, signaling weaker inflation pressures.
Switzerland’s PPI remained flat at 0.0%, missing expectations of a 0.2% increase, indicating subdued pricing momentum.
The World Economic Forum (WEF) and Eurogroup Meetings are underway, focusing on global economic stability and Eurozone fiscal strategies.
In Canada, the BOC Business Outlook Survey is set to provide insights into business confidence and future monetary policies.
Over in New Zealand, the BusinessNZ Services Index slipped to 47.9, signaling contraction in the services sector and raising economic concerns.Impact on the US Dollar (DXY):
With a US bank holiday, trading activity in the dollar was subdued. However, weaker-than-expected data from Europe and New Zealand could support the DXY in the coming sessions as risk currencies face downward pressure.
Commodities and Crypto Check:
Bitcoin (BTC): Up 0.8%, trading at $27,500 as investors show renewed interest.
Gold: Holding steady at $1,936 per ounce, reflecting cautious sentiment amid global discussions at the WEF.
Silver: Slightly higher at $24.15 per ounce, with modest industrial demand.That’s your quick market snapshot for today! Stay tuned for tomorrow’s updates as we track developments across the globe.