forex brokeri hrvatska Today: Dollar sell-off loses steam ahead of EU inflation, ADP employment data. Here is what you need to know on Wednesday, February 2: The greenback continued to weaken against its rivals on Tuesday and the US Dollar Index (DXY) erased a large portion of the previous week's gains. The risk-positive market environment made it difficult for the dollar to find demand and the benchmark 10-year US Treasury bond yield returned below 1.8% to weigh further on the currency. Early Wednesday, the DXY seems to have gone into a consolidation phase above 96.00.
Markets await January Consumer Price Index (CPI) data from the euro area and the ADP's private-sector employment report for the US ahead of Thursday's highly anticipated central bank meetings. After rising nearly 2% on Monday, the S&P 500 Index opened modestly lower on Tuesday but ended up closing the day in the positive territory. Early Wednesday, US stock index futures are up between 0.1% and 0.35%. EUR/USD stays relatively quiet below 1.1300 heading into the European session.
CPI in the euro area is forecast to decline to 4.4% on a yearly basis from 5% in December. A soft inflation print could cause the shared currency to lose interest. GBP/USD is fluctuating in a tight range above 1.3500. The market expectation is for the Bank of England to raise its policy rate by 25 basis points on Thursday. USD/JPY fell for the third straight trading day on Tuesday pressured by retreating US Treasury bond yields.
The pair was last seen moving sideways at around 115.00. NZD/USD lost its bullish momentum following the mixed jobs report and was last seen trading flat on the day near 0.6630. The Unemployment Rate in New Zealand declined to 3.2% in the fourth quarter from 3.4%. On a negative note, Employment Change arrived at +0.1% in Q4, falling short of the market expectation of 0.3%. Gold rose toward $1,810 on Tuesday but gave back the majority of its daily gains before closing near $1,800.
The yellow metal is trading in the negative territory early Wednesday. Bitcoin extended its rebound on Tuesday but seems to have lost its bullish momentum before testing $40,000. Ethereum closed the last two trading days in the green and gained nearly 7% during that period before going into a consolidation phase at around $2,700. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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