EUR/USD recovered some of its losses from the previous session, trading near 1.0280 during Asian hours. However, the pair's gains may remain capped as the US Dollar (USD) could strengthen amid market caution ahead of President-elect Donald Trump's inauguration later today. US markets will remain closed on Monday for the Martin Luther King Jr. holiday. Concerns over Trump's policy promises—such as imposing tariffs, extending tax cuts, and deporting illegal immigrants—have fueled a rise in US Treasury yields and supported the US Dollar ahead of his inauguration. Analysts suggest that the...
The dollar weakened against major currencies on Monday as traders braced for a series of policy announcements following Donald Trump's inauguration. Markets are focused on his plans to raise tariffs, tighten immigration, lower taxes and increase deregulation, which are expected to have an impact on inflation. However, trading volumes are expected to remain low throughout the session, as U.S. markets are closed for the Martin Luther King Jr. holiday. Last week, the dollar index snapped a six-week winning streak after a surprise slowdown in U.S. core inflation, coupled with...
West Texas Intermediate (WTI) oil prices extended losses for the third straight session, trading near $77.20 a barrel during the Asian session on Monday (1/20). Oil traders are on alert ahead of President-elect Donald Trump's inauguration later in the day. US markets will remain closed on Monday in observance of Martin Luther King Jr. Day. Concerns are mounting over Trump's proposed policies, including potential tariffs, tax cuts and deportations of undocumented immigrants. Analysts note that the future direction of US Federal Reserve (Fed) interest rates will largely depend on how broadly...