외환거래 뉴스 타임라인

08:19 EU prepares to hit Big Tech in retaliation for Trump’s tariffs – FT
Citing two officials with knowledge of the plans, the Financial Times (FT) reported on Wednesday that the European Commission is preparing to deploy its “anti-coercion instrument” (ACI) in a potential retaliation to US President Donald Trump’s tariffs, which would enable the European Union (EU) to target US service sectors like Big Tech.

Citing two officials with knowledge of the plans, the Financial Times (FT) reported on Wednesday that the European Commission is preparing to deploy its “anti-coercion instrument” (ACI) in a potential retaliation to US President Donald Trump’s tariffs, which would enable the European Union (EU) to target US service sectors like Big Tech.

08:00 Russia S&P Global Services PMI climbed from previous 51.2 to 54.6 in January
Russia S&P Global Services PMI climbed from previous 51.2 to 54.6 in January

07:47 USD/INR maintains position above 87.00 after HSBC PMI data release
USD/INR continues its upward momentum for the fourth consecutive day, trading around 87.10 during Wednesday’s Asian session.

07:23 EUR/USD lacks firm intraday direction, stuck in a range around 1.0375-1.0380 zone
The EUR/USD pair struggles to capitalize on this week's solid recovery from the 1.0200 neighborhood, or the lowest level since January 13, and oscillates in a range near the weekly top touched earlier this Wednesday.

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Concerns about Trump’s trade tariffs and dovish ECB weigh on the Euro and cap the pair.The EUR/USD pair struggles to capitalize on this week's solid recovery from the 1.0200 neighborhood, or the lowest level since January 13, and oscillates in a range near the weekly top touched earlier this Wednesday. Spot prices currently trade around the 1.0375-1.0380 region, nearly unchanged for the day amid mixed fundamental cues. The Job Openings and Labor Turnover Survey (JOLTS) published on Tuesday pointed to a slowdown in the US labor market and supports prospects for further policy easing by the Federal Reserve (Fed). In fact, the markets are pricing in the possibility that the US central bank will lower borrowing costs twice this year. Apart from this, the risk-on mood keeps the safe-haven US Dollar (USD) depressed near the weekly low, which, in turn, is seen acting as a tailwind for the EUR/USD pair. Traders, however, seem reluctant to place aggressive bullish bets in the wake of concerns that US President Donald Trump would slap tariffs on goods from the European Union. Adding to this, the European Central Bank's (ECB) dovish stance, which overshadowed a rise in the Eurozone Harmonized Index of Consumer Prices (HICP) at an annual rate of 2.5% in January, is seen undermining the Euro and contributing to keeping a lid on any meaningful upside for the EUR/USD pair. Traders now look forward to the release of the final Eurozone Services PMI. Meanwhile, the US economic docket features the release of the ADP report on private-sector employment and ISM Services PMI. Apart from this, speeches by influential FOMC members will drive the USD demand and provide a fresh impetus to the EUR/USD pair. The focus, however, remains glued to the US monthly employment details – popularly known as the Nonfarm Payrolls (NFP) report on Friday. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance. Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.

07:00 Singapore Retail Sales (YoY) fell from previous -0.7% to -2.9% in December
Singapore Retail Sales (YoY) fell from previous -0.7% to -2.9% in December

07:00 Singapore Retail Sales (MoM) rose from previous -2.8% to -1.5% in December
Singapore Retail Sales (MoM) rose from previous -2.8% to -1.5% in December

07:00 India HSBC Composite PMI came in at 57.7, below expectations (57.9) in January
India HSBC Composite PMI came in at 57.7, below expectations (57.9) in January

07:00 India HSBC Services PMI below forecasts (56.8) in January: Actual (56.5)
India HSBC Services PMI below forecasts (56.8) in January: Actual (56.5)

06:46 EUR/JPY falls to near 159.00 amid rising wages in Japan
EUR/JPY retreats after gains in the previous session, trading near 159.00 during Asian hours on Wednesday.

06:35 India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Wednesday, according to data compiled by FXStreet.

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The price for Gold stood at 7,997.48 Indian Rupees (INR) per gram, up compared with the INR 7,965.92 it cost on Tuesday. The price for Gold increased to INR 93,281.70 per tola from INR 92,912.91 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 7,997.48 10 Grams 79,975.37 Tola 93,281.70 Troy Ounce 248,749.70 FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly. Related newsGold price continues scaling higher; fresh record high and counting Gold Price Forecast: XAU/USD holds record-rally amid overbought conditions, ahead of US data Gold price capitalized US Dollar weakness as trade tensions loomGold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. (An automation tool was used in creating this post.)

06:35 GBP/USD holds steady below 1.2500; softer USD acts as a tailwind
The GBP/USD pair struggles to capitalize on its strong gains registered over the past two days and consolidates near a one-week top, below the 1.2500 psychological mark during the Asian session on Wednesday.

06:29 FX option expiries for Feb 5 NY cut
FX option expiries for Feb 5 NY cut at 10:00 Eastern Time via DTCC can be found below.

FX option expiries for Feb 5 NY cut at 10:00 Eastern Time via DTCC can be found below. EUR/USD: EUR amounts 1.0300 1.3b 1.0335 1b 1.0400 815m 1.0425 957m 1.0430 965m 1.0500 1.9b USD/JPY: USD amounts 153.25 1.2b 154.00 1.3b 155.60 630m USD/CHF: USD amounts 0.9050 675m AUD/USD: AUD amounts 0.6260 449m USD/CAD: USD amounts 1.4240 1.1b 1.4325 940m 1.4500 800m 1.4530 882m 1.4600 1.7b

06:24 Gold price continues scaling higher; fresh record high and counting
Gold price (XAU/USD) prolongs its upward trajectory through the Asian session on Wednesday and advances to a fresh all-time peak, around the $2,854 region in the last hour.

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Gold price (XAU/USD) prolongs its upward trajectory through the Asian session on Wednesday and advances to a fresh all-time peak, around the $2,854 region in the last hour. Investors remain concerned about the economic fallout from US President Donald Trump's trade tariffs, which continues to underpin demand for the safe-haven bullion. Furthermore, the JOLTS data released on Tuesday pointed to slowing momentum in the US labor market and could force the Federal Reserve (Fed) to maintain its easing cycle despite sticky inflation. This turns out to be another factor that contributes to driving flows towards the non-yielding yellow metal. Meanwhile, the prospects for further policy easing by the Fed keep the US Dollar (USD) depressed near the weekly low touched on Tuesday, which is seen lending additional support to the Gold prices. That said, Trump's decision to delay tariffs against Canada and Mexico remains supportive of the risk-on mood and could cap gains for the commodity amid overbought conditions on the daily chart. This makes it prudent to wait for a near-term consolidation or a modest pullback before placing fresh bullish bets around the XAU/USD. Traders now look to the US ADP report on private-sector employment and the US ISM Services PMI for some impetus. Gold price uptrend remains uninterrupted as investors continue to seek refuge in safe-haven assets China retaliated to US President Donald Trump's new duties and imposed targeted tariffs on US imports, fueling trade war fears between the world's top two economies and lifting the safe-haven Gold price to a fresh record high on Wednesday. The Job Openings and Labor Turnover Survey (JOLTS) published by the US Bureau of Labor Statistics on Tuesday showed that the number of job openings on the last business day of December stood at 7.6 million, down from 8.09 million previous. The data pointed to a slowdown in the job market, which could allow the Federal Reserve to cut rates further. This keeps the US Dollar bulls on the defensive near the weekly low and turns out to be another factor that benefits the XAU/USD pair. Trump offered concessions to Canada and Mexico by delaying the 25% trade tariffs for 30 days, fueling hopes that a global trade war could be averted, though it does little to dent the bullish sentiment around the safe-haven precious metal. Wednesday's US economic docket features the release of the ADP report on private-sector employment and ISM Services PMI. The data should influence the USD and produce short-term trading opportunities around the commodity. The focus, however, will remain on the closely-watched US monthly employment detail – popularly known as the Nonfarm Payrolls (NFP) report on Friday. Apart from this, tariff headlines should infuse volatility in the markets. Gold price needs to consolidate recent strong gains before extending a well-established uptrendFrom a technical perspective, the Relative Strength Index (RSI) on hourly and daily charts is flashing slightly overbought conditions, warranting some caution for bullish traders. That said, the recent breakout momentum beyond the $2,800 mark suggests that the path of least resistance for the Gold price remains to the upside. This, in turn, supports prospects for an extension of the recent well-established uptrend from the December 2024 swing low. In the meantime, any corrective slide now seems to find some support near the $2,830 area ahead of the $2,800 mark. A further decline could be seen as a buying opportunity and is more likely to remain limited near the $2,773-2,772 horizontal resistance breakpoint, now turned support. A convincing break below the latter, however, might prompt some technical selling and pave the way for deeper losses. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.

06:10 Japan’s Akazawa: Government’s focus is to eradicate Japan's deflationary mindset
Japan's Economy Minister Ryosei Akazawa noted on Wednesday that the ”government’s focus is to eradicate Japan's deflationary mindset.” “With an ambitious goal to boost minimum wages, the government is trying to eradicate deflationary mindset,” he added.

Japan's Economy Minister Ryosei Akazawa noted on Wednesday that the ”government’s focus is to eradicate Japan's deflationary mindset.” “With an ambitious goal to boost minimum wages, the government is trying to eradicate deflationary mindset,” he added. Market reactionUSD/JPY was last seen trading 0.70% lower on the day at around 153.25.

06:08 Indonesia Gross Domestic Product (YoY) registered at 5.02% above expectations (4.98%) in 4Q
Indonesia Gross Domestic Product (YoY) registered at 5.02% above expectations (4.98%) in 4Q

06:08 Indonesia Gross Domestic Product (QoQ) below expectations (0.56%) in 4Q: Actual (0.53%)
Indonesia Gross Domestic Product (QoQ) below expectations (0.56%) in 4Q: Actual (0.53%)

05:50 US Customs and Border Protection says additional 10% tariffs will apply to Hong Kong and mainland China
The US Customs and Border Protection issued a notice on Wednesday, noting that additional US tariffs of 10% will apply to Hong Kong as well as mainland China.

05:47 BoJ official: Central bank sees underlying inflation gradually heading toward 2%
An official at the Bank of Japan (BoJ) said on Wednesday that the “BoJ sees underlying inflation gradually heading toward 2%.” Additional comments Price rises post-pandemic have been driven mostly by cost-push factors, such as rising import costs from weak Yen.

An official at the Bank of Japan (BoJ) said on Wednesday that the “BoJ sees underlying inflation gradually heading toward 2%.” Additional comments Price rises post-pandemic have been driven mostly by cost-push factors, such as rising import costs from weak Yen. Expect cost-push inflation pressure to gradually dissipate ahead. Services prices rising moderately.

05:46 WTI trades near $72.00, moves little as market downplays US-China trade tensions
West Texas Intermediate (WTI) crude oil price remains in negative territory for the third consecutive session, trading around $72.20 per barrel during Asian hours on Wednesday.

04:40 USD/CAD consolidates above 1.4300 mark; upside potential seems limited
The USD/CAD pair enters a bearish consolidation phase after registering heavy losses over the past two days and holds above the 1.4300 mark during the Asian session on Wednesday.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/CAD struggles to gain any meaningful traction and hangs near a two-week trough. Subdued Oil prices and the BoC’s dovish outlook undermine the Loonie and cap the pair. The USD languishes near the weekly low and further acts as a headwind for spot prices.The USD/CAD pair enters a bearish consolidation phase after registering heavy losses over the past two days and holds above the 1.4300 mark during the Asian session on Wednesday. Moreover, the fundamental backdrop warrants some caution before confirming that a sharp pullback from a two-decade high touched on Monday has run its course. Crude Oil prices struggle to capitalize on the overnight bounce from the year-to-date (YTD) low amid US-China trade tensions. This, along with the Bank of Canada's (BoC) dovish outlook, undermines the commodity-linked Loonie and acts as a tailwind for the USD/CAD pair. That said, a weaker US Dollar (USD) is holding back traders from placing aggressive bullish bets around the currency pair. In fact, the USD Index (DXY), which tracks the Greenback against a basket of currencies, languishes near the weekly low amid expectations that the Federal Reserve (Fed) will lower borrowing costs further by the end of this year. The bets were reaffirmed by the Job Openings and Labor Turnover Survey (JOLTS) released on Tuesday, which pointed to a slowdown in the US labor market. Apart from this, US President Donald Trump's decision to delay the 25% trade tariffs on Canadian and Mexican imports by 30 days contributes to capping the USD/CAD pair. Traders now look forward to the US economic docket – featuring the release of the ADP report on private-sector employment and the ISM Services PMI. This, along with Oil price dynamics, should provide some impetus to spot prices. Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall. Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.

04:20 Japanese Yen rallies on strong wage growth data; USD/JPY slumps to mid-153.00s
The Japanese Yen (JPY) attracts fresh buyers after data released during the Asian session on Wednesday showed a rise in Japan's real wages, which reaffirms bets that the Bank of Japan (BoJ) will raise interest rates again.

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50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Japanese Yen jumps to over a one-month top against the USD amid BoJ rate hike bets.Expectations for a further narrowing of the Japan-US rate differential also underpin the JPY. A positive risk tone might cap the safe-haven JPY amid worries about Trump’s trade tariffs. The Japanese Yen (JPY) attracts fresh buyers after data released during the Asian session on Wednesday showed a rise in Japan's real wages, which reaffirms bets that the Bank of Japan (BoJ) will raise interest rates again. This marks a big divergence in comparison to expectations that the Federal Reserve (Fed) will lower borrowing costs twice by the end of this year. The resultant narrowing of the rate differential between Japan and the US further benefits the lower-yielding JPY. Apart from this, a softer US Dollar (USD) dragged the USD/JPY pair to mid-153.0s, or its lowest level since December 18 in the last hour. Meanwhile, investors remain worried that Japan would also be an eventual target for US President Donald Trump's trade tariffs. This, along with the risk-on mood, might hold back traders from placing fresh bullish bets around the safe-haven JPY. Nevertheless, the fundamental backdrop supports prospects for further JPY appreciation. Japanese Yen strengthens as a rise in Japan’s real wages lifts BoJ rate hike bets Preliminary government data released earlier this Wednesday revealed that inflation-adjusted real wages in Japan climbed 0.6% from the year before in December. Adding to this, the previous month's reading was revised to show a 0.5% rise against a 0.3% drop reported originally. Meanwhile, the consumer inflation rate that the government uses to calculate real wages accelerated from November's 3.4% to 4.2%, or the fastest pace since January 2023. This, in turn, supports prospects for further policy tightening by the Bank of Japan and lifts the Japanese Yen. A survey compiled by S&P Global Market Intelligence showed that Japan's service activity expanded for a third straight month in January. In fact, the au Jibun Bank Service Purchasing Managers’ Index (PMI) rose from 50.9 to 53.0 in January, marking the highest level since September 2024. The US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday that the number of job openings on the last business day of December stood at 7.6 million. This was below the 8.09 million openings in November and expectations of 8 million. The data pointed to a slowdown in the job market, which could allow the Federal Reserve to cut rates further. This marks a big divergence in comparison to the hawkish BoJ expectations and drags the USD/JPY pair to over a one-month low during the Asian session on Wednesday. Fed Vice Chairman Philip Jefferson said on Tuesday that there is no need to hurry further rate cuts as a strong economy makes caution appropriate. Interest rates are likely to fall over the medium term and the Fed faces uncertainty around government policy, Jefferson added further. US President Donald Trump offered concessions to Canada and Mexico by delaying the 25% trade tariffs for 30 days. Adding to this hopes for a trade breakthrough between the US and China help to ease trade war fears and remain supportive of the prevalent risk-on environment. Investors remain worried that Japan would also be an eventual target for Trump's trade tariffs. Japan's Prime Minister Shigeru Ishiba is set to meet with Trump later this week and their conversation may provide more hints about the risk as Japan has a large trade surplus with the US. Traders now look forward to the US economic docket – featuring the release of the ADP report on private-sector employment and the ISM Services PMI. The data provide some impetus to the US Dollar ahead of the closely-watched US Nonfarm Payrolls report on Friday. USD/JPY seems vulnerable to slide further; breakdown below the 154.00 mark in playFrom a technical perspective, the intraday breakdown and acceptance below the 154.00 mark could be seen as a fresh trigger for bearish traders. Moreover, oscillators on the daily chart have been gaining negative traction and are still away from being in the oversold territory. This, in turn, suggests that the path of least resistance for the USD/JPY pair is to the downside and supports prospects for a further depreciating move. Hence, a subsequent fall towards the 153.00 mark, en route to the 100-day Simple Moving Average (SMA), currently pegged near the 152.45 region, looks like a distinct possibility. On the flip side, any attempted recovery might now confront immediate resistance near the 154.00 round figure. Some follow-through buying, however, might prompt a short-covering rally and lift the USD/JPY pair to the 154.70-154.75 intermediate hurdle en route to the 155.00 psychological mark. Meanwhile, a further move up could be seen as a selling opportunity and remain capped near the 155.25-155.30 region. The latter should act as a key pivotal point, which if cleared decisively will negate the negative outlook and shift the near-term bias in favor of bullish traders. Economic Indicator Labor Cash Earnings (YoY) This indicator, released by the Ministry of Health, Labor and Welfare, shows the average income, before taxes, per regular employee. It includes overtime pay and bonuses but it doesn't take into account earnings from holding financial assets nor capital gains. Higher income puts upward pressures on consumption, and is inflationary for the Japanese economy. Generally, a higher-than-expected reading is bullish for the Japanese Yen (JPY), while a below-the-market consensus result is bearish. Read more. Last release: Tue Feb 04, 2025 23:30 Frequency: MonthlyActual: 4.8%Consensus: 3.8%Previous: 3%Source: Ministry of Economy, Trade and Industry of Japan Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.

04:15 NZD/USD hovers around 0.5650 following labor market data, China’s Services PMI
NZD/USD remains steady following the release of the Caixin Services Purchasing Managers’ Index (PMI) from China, New Zealand’s close trading partner.

03:47 China’s Caixin Services PMI unexpectedly drops to 51 in January vs. 52.3 expected
China's Services Purchasing Managers' Index (PMI) unexpectedly fell to 51 in January from 52.2 in December, the latest data published by Caixin showed Wednesday.

03:46 China Caixin Services PMI below expectations (52.3) in January: Actual (51)
China Caixin Services PMI below expectations (52.3) in January: Actual (51)

03:35 Fed’s Jefferson: No need to hurry further rate cuts; strong economy makes caution appropriate
Federal Reserve (Fed) Vice Chairman Philip Jefferson was on the wires late Tuesday, commenting on the economic and interest rates outlooks.

03:25 Australian Dollar edges lower amid rising fears over US-China trade war
The Australian Dollar (AUD) edges lower against the US Dollar (USD) amid an increased risk aversion following rising fears over US-China trade tensions.

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The AUD/USD pair failed to draw support from the improved Judo Bank Purchasing Managers Index (PMI) released on Wednesday. Australia’s Judo Bank Composite PMI climbed to 51.1 in January from 50.2 in December, reflecting modest growth in private sector activity. Meanwhile, the Judo Bank Services PMI rose to 51.2 from 50.8, marking the twelfth consecutive month of expansion in the services sector. Although the growth was moderate, it was the strongest since August. The AUD may further depreciate amid the increased likelihood that the Reserve Bank of Australia (RBA) could consider a rate cut in February. The RBA has maintained the Official Cash Rate (OCR) at 4.35% since November 2023, emphasizing that inflation must “sustainably” return to its 2%-3% target range before any policy easing. The Aussie Dollar faces challenges as market volatility remains a concern as investors closely watch the ongoing trade war between the United States (US) and China, Australia’s key trading partner. China retaliated against the new 10% US tariff that took effect on Tuesday. However, Trump stated on Monday afternoon that he would likely speak with China within the next 24 hours. He also warned, "If we can't reach a deal with China, the tariffs will be very, very substantial." Australian Dollar remains under pressure amid increased risk aversion The US Dollar Index (DXY), which measures the US Dollar’s value against six major currencies, remains under downward pressure for the third successive day, trading around 108.00 at the time of writing. Meanwhile, traders brace for Friday’s US Nonfarm Payrolls (NFP) data, which is expected to shape the Federal Reserve’s (Fed) monetary policy direction. President Trump has agreed to a 30-day suspension of the proposed 25% tariffs on Canadian and Mexican imports. This decision comes after Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum committed to enhancing border security measures to address concerns over illegal immigration and drug trafficking. China’s Commerce Ministry announced that it will impose a 15% tariff on US coal and liquefied natural gas (LNG) imports, along with an additional 10% tariff on crude Oil, farm equipment, and certain automobiles. Additionally, to "safeguard national security interests," China is implementing export controls on tungsten, tellurium, ruthenium, molybdenum, and related products. According to the Financial Times, Chinese exporters are intensifying their efforts to offshore production in response to Trump’s tariffs. Manufacturers in China are accelerating plans to relocate production to other countries, including the Middle East, to avoid US tariffs. Other tactics being considered include passing the increased costs onto US consumers and exploring alternative markets. The White House announced late Monday that US President Donald Trump signed an executive order to initiate the creation of a government-owned investment fund, according to Reuters. This fund could allow the US to profit from TikTok if an American buyer is secured. TikTok has until early April to find an approved partner or purchaser. Trump is pushing for the US to acquire a 50% stake in the company. JOLTS Job Openings fell to 7.6 million in December, missing the 8 million consensus estimate. The US labor market remains stable with total separations little changed at 5.3 million in December. The CME FedWatch Tool projects an 86% chance that the Fed will keep rates unchanged at its March meeting. San Francisco Fed Bank President Mary Daly stated on Tuesday that the central bank remains in a wait-and-see stance, emphasizing the impact of economic uncertainty on policymaking. While the economy is performing well and maintaining momentum, uncertainty persists. As a result, the Fed has the flexibility to carefully assess data before making policy adjustments. Technical Analysis: Australian Dollar breaks above nine-day EMA and descending channel The AUD/USD pair trades near 0.6250 on Wednesday, staying above the descending channel pattern on the daily chart, indicating a potential bullish shift. The 14-day Relative Strength Index (RSI) sits at the 50 level, reflecting neutral momentum. A sustained break above 50 on the RSI could confirm a stronger bullish trend. On the upside, the AUD/USD pair could explore the area around its seven-week high at 0.6330 level, which was recorded on January 24. The AUD/USD pair may find immediate support at the nine-day Exponential Moving Average (EMA) near 0.6240, followed by the upper boundary of the descending channel. A pullback to the channel would reinforce the bearish bias, potentially driving the pair toward the lower boundary of the descending channel around 0.6140. AUD/USD: Daily ChartAustralian Dollar PRICE Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the Japanese Yen. USD EUR GBP JPY CAD AUD NZD CHF USD 0.03% 0.04% -0.45% 0.03% 0.09% -0.08% 0.03% EUR -0.03% 0.00% -0.45% -0.01% 0.06% -0.12% -0.00% GBP -0.04% -0.01% -0.48% -0.01% 0.05% -0.12% -0.01% JPY 0.45% 0.45% 0.48% 0.46% 0.53% 0.34% 0.47% CAD -0.03% 0.01% 0.01% -0.46% 0.07% -0.11% 0.00% AUD -0.09% -0.06% -0.05% -0.53% -0.07% -0.18% -0.06% NZD 0.08% 0.12% 0.12% -0.34% 0.11% 0.18% 0.12% CHF -0.03% 0.00% 0.00% -0.47% -0.01% 0.06% -0.12% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote). Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.

03:15 PBOC sets USD/CNY reference rate at 7.1693
On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1693 as compared to 7.2661 Reuters estimates.

02:30 Japan Jibun Bank Services PMI came in at 53, above forecasts (52.7) in January
Japan Jibun Bank Services PMI came in at 53, above forecasts (52.7) in January

02:02 New Zealand ANZ Commodity Price: 1.8% (January) vs 0.2%
New Zealand ANZ Commodity Price: 1.8% (January) vs 0.2%

01:58 EUR/USD bounces as market pressures abate
EUR/USD lurched higher by eight-tenths of one percent on Tuesday, regaining lost ground but failing to recapture the 1.0400 handle.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}EUR/USD gained 0.8% on Tuesday as trade wars turn hypothetical.President Trump’s tariff bluffs have been called by the markets after several delays.European economic data remains thin this week.EUR/USD lurched higher by eight-tenths of one percent on Tuesday, regaining lost ground but failing to recapture the 1.0400 handle. Fiber has snapped a six-day losing streak, but overall bullish momentum remains thin with the Euro at the mercy of overall market flows and looming US Nonfarm Payrolls (NFP) figures. EUR/USD’s early-week plunge toward 1.0200 sparked by impending tariffs from US President Donald Trump has firmly recovered ground after the Trump administration took any excuse it could find to avert its self-imposed threats to tax its own citizens for importing goods from other countries. Threats of a flat 10% import tax on European-produced goods are still on the cards, but last-minute pivots into concessions on nearly all of President Trump’s targeted countries, except for China, has left investors confident that the posturing is simply that and nothing more. 10% import fees on goods from China are still on the table, but President Trump also failed to follow through on his threat to arbitrarily double tariffs on any countries that retaliate. To his credit, China’s retaliatory tariffs of 10% on US-made goods is a largely theatrical gesture; very few US-made goods make it overseas to Chinese markets, and the move is mostly symbolic. Investors are now tuning out most of President Trump’s trade rhetoric as the US administration fumbles its own setup, and future tariff threats are likely to have muted impacts as future concessions get priced in ahead of time. The US ADP Employment Change data is set to be released on Wednesday; however, this erratic figure is not expected to generate significant movement. Additionally, the US ISM Services Purchasing Managers Index (PMI) report for January is anticipated, with projections indicating a rise from 54.1 to 54.3. The most critical US data point this week will be Friday’s Nonfarm Payrolls, which is predicted to decline from 256K to 170K. EUR/USD price forecast EUR/USD found enough juice to halt a six-day backslide, but the pair still remains on the wrong side of the 1.0400 handle and the 50-day Exponential Moving Average (EMA) at 1.0440. Bullish momentum has waned out of technical oscillators, and Fiber price action is set for a sideways grind between 1.0500 and 1.0300. EUR/USD daily chartEuro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

01:41 GBP/USD extends recovery but remains on shaky ground
GBP/USD continued to grind higher on Tuesday, extending a recovery after the week’s early plunge on trade war concerns sparked by US President Donald Trump’s sweeping threats to impose stiff tariffs on his own constituents in an effort to punish some of the US’ closest trade allies.

01:30 Japan Labor Cash Earnings (YoY) above forecasts (3.8%) in December: Actual (4.8%)
Japan Labor Cash Earnings (YoY) above forecasts (3.8%) in December: Actual (4.8%)

01:00 South Korea Consumer Price Index Growth (MoM) registered at 0.7% above expectations (0.44%) in January
South Korea Consumer Price Index Growth (MoM) registered at 0.7% above expectations (0.44%) in January

01:00 South Korea Consumer Price Index Growth (YoY) came in at 2.2%, above expectations (1.97%) in January
South Korea Consumer Price Index Growth (YoY) came in at 2.2%, above expectations (1.97%) in January

00:04 USD/JPY Price Analysis: Retreats below 155.00 on trade war tensions
The USD/JPY drops below 155.00 for the second straight day and seems poised to achieve a daily close below the latter.

00:02 Australia Judo Bank Services PMI came in at 51.2, above forecasts (50.4) in January
Australia Judo Bank Services PMI came in at 51.2, above forecasts (50.4) in January

00:02 Australia Judo Bank Composite PMI climbed from previous 50.3 to 51.1 in January
Australia Judo Bank Composite PMI climbed from previous 50.3 to 51.1 in January

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08:00 Russia S&P Global Services PMI climbed from previous 51.2 to 54.6 in January Russia S&P Global Services PMI climbed from previous 51.2 to 54.6 in January

07:47 USD/INR maintains position above 87.00 after HSBC PMI data release USD/INR continues its upward momentum for the fourth consecutive day, trading around 87.10 during Wednesday’s Asian session.

07:00 Singapore Retail Sales (YoY) fell from previous -0.7% to -2.9% in December Singapore Retail Sales (YoY) fell from previous -0.7% to -2.9% in December

07:00 Singapore Retail Sales (MoM) rose from previous -2.8% to -1.5% in December Singapore Retail Sales (MoM) rose from previous -2.8% to -1.5% in December

07:00 India HSBC Composite PMI came in at 57.7, below expectations (57.9) in January India HSBC Composite PMI came in at 57.7, below expectations (57.9) in January

07:00 India HSBC Services PMI below forecasts (56.8) in January: Actual (56.5) India HSBC Services PMI below forecasts (56.8) in January: Actual (56.5)

06:46 EUR/JPY falls to near 159.00 amid rising wages in Japan EUR/JPY retreats after gains in the previous session, trading near 159.00 during Asian hours on Wednesday.

06:35 India Gold price today: Gold rises, according to FXStreet data Gold prices rose in India on Wednesday, according to data compiled by FXStreet.

06:35 GBP/USD holds steady below 1.2500; softer USD acts as a tailwind The GBP/USD pair struggles to capitalize on its strong gains registered over the past two days and consolidates near a one-week top, below the 1.2500 psychological mark during the Asian session on Wednesday.

06:29 FX option expiries for Feb 5 NY cut FX option expiries for Feb 5 NY cut at 10:00 Eastern Time via DTCC can be found below.

06:24 Gold price continues scaling higher; fresh record high and counting Gold price (XAU/USD) prolongs its upward trajectory through the Asian session on Wednesday and advances to a fresh all-time peak, around the $2,854 region in the last hour.

06:08 Indonesia Gross Domestic Product (YoY) registered at 5.02% above expectations (4.98%) in 4Q Indonesia Gross Domestic Product (YoY) registered at 5.02% above expectations (4.98%) in 4Q

06:08 Indonesia Gross Domestic Product (QoQ) below expectations (0.56%) in 4Q: Actual (0.53%) Indonesia Gross Domestic Product (QoQ) below expectations (0.56%) in 4Q: Actual (0.53%)

05:50 US Customs and Border Protection says additional 10% tariffs will apply to Hong Kong and mainland China The US Customs and Border Protection issued a notice on Wednesday, noting that additional US tariffs of 10% will apply to Hong Kong as well as mainland China.

05:46 WTI trades near $72.00, moves little as market downplays US-China trade tensions West Texas Intermediate (WTI) crude oil price remains in negative territory for the third consecutive session, trading around $72.20 per barrel during Asian hours on Wednesday.

04:40 USD/CAD consolidates above 1.4300 mark; upside potential seems limited The USD/CAD pair enters a bearish consolidation phase after registering heavy losses over the past two days and holds above the 1.4300 mark during the Asian session on Wednesday.

04:15 NZD/USD hovers around 0.5650 following labor market data, China’s Services PMI NZD/USD remains steady following the release of the Caixin Services Purchasing Managers’ Index (PMI) from China, New Zealand’s close trading partner.

03:47 China’s Caixin Services PMI unexpectedly drops to 51 in January vs. 52.3 expected China's Services Purchasing Managers' Index (PMI) unexpectedly fell to 51 in January from 52.2 in December, the latest data published by Caixin showed Wednesday.

03:46 China Caixin Services PMI below expectations (52.3) in January: Actual (51) China Caixin Services PMI below expectations (52.3) in January: Actual (51)

03:35 Fed’s Jefferson: No need to hurry further rate cuts; strong economy makes caution appropriate Federal Reserve (Fed) Vice Chairman Philip Jefferson was on the wires late Tuesday, commenting on the economic and interest rates outlooks.

03:25 Australian Dollar edges lower amid rising fears over US-China trade war The Australian Dollar (AUD) edges lower against the US Dollar (USD) amid an increased risk aversion following rising fears over US-China trade tensions.

03:15 PBOC sets USD/CNY reference rate at 7.1693 On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1693 as compared to 7.2661 Reuters estimates.

02:30 Japan Jibun Bank Services PMI came in at 53, above forecasts (52.7) in January Japan Jibun Bank Services PMI came in at 53, above forecasts (52.7) in January

02:02 New Zealand ANZ Commodity Price: 1.8% (January) vs 0.2% New Zealand ANZ Commodity Price: 1.8% (January) vs 0.2%

01:58 EUR/USD bounces as market pressures abate EUR/USD lurched higher by eight-tenths of one percent on Tuesday, regaining lost ground but failing to recapture the 1.0400 handle.

01:30 Japan Labor Cash Earnings (YoY) above forecasts (3.8%) in December: Actual (4.8%) Japan Labor Cash Earnings (YoY) above forecasts (3.8%) in December: Actual (4.8%)

01:00 South Korea Consumer Price Index Growth (MoM) registered at 0.7% above expectations (0.44%) in January South Korea Consumer Price Index Growth (MoM) registered at 0.7% above expectations (0.44%) in January

01:00 South Korea Consumer Price Index Growth (YoY) came in at 2.2%, above expectations (1.97%) in January South Korea Consumer Price Index Growth (YoY) came in at 2.2%, above expectations (1.97%) in January

00:04 USD/JPY Price Analysis: Retreats below 155.00 on trade war tensions The USD/JPY drops below 155.00 for the second straight day and seems poised to achieve a daily close below the latter.

00:02 Australia Judo Bank Services PMI came in at 51.2, above forecasts (50.4) in January Australia Judo Bank Services PMI came in at 51.2, above forecasts (50.4) in January

00:02 Australia Judo Bank Composite PMI climbed from previous 50.3 to 51.1 in January Australia Judo Bank Composite PMI climbed from previous 50.3 to 51.1 in January

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