Market Overview

FxPro Daily Insight for January 29

Market overview

Markets shrug off fears of the spread of coronavirus. Influence on markets is becoming more selective (at the level of companies and sectors, rather than the overall risk-off).

Now focus of market participants turns to monetary policy and possible changes in the tone of the Fed’s comments later this evening. Against this background, the USD is experiencing some traction to the detriment of so-called yielding currencies.

Yesterday after market close Apple and several other companies issued robust earnings reports, which supported the demand for risks. Later Today, AT&T, Boeing, McDonalds, MasterCard report before the US market open. After its close, Microsoft, Facebook, Tesla and many more will present their quarterly results.

Important events (GMT):

00:30 AU !!! Consumer Prices Index 13:30 US !! Goods Trade Balance 15:30 US !! Crude Oil Inventories 19:00 US !!! FOMC Rate Decision 19:30 US !!! FOMC Press-conference

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