- The session on Wall Street ended with a solid sell-off. The sell-off spread across the entire US stock market, ending the day with solid losses. The S&P 500 fell 1.5%, the Dow Jones lost 1.3%, and the Nasdaq fell 2%.
- The technology sector remained under significant pressure, with software companies being the most affected by yesterday's sell-off. This is a continuation of the pressure on these companies' shares.
- Donald Trump has signaled that an agreement with Iran may be reached in the coming weeks. At the same time, the United States is increasing its military presence in the Persian Gulf region.
- Today, the publication of CPI inflation data in the United States is scheduled, which will be a key event for financial markets and expectations regarding the Fed's future policy.
- Asian stock markets came under pressure due to deteriorating global sentiment and a sell-off of technology companies. As a result, the main indices ended the session in negative territory: Japan (Nikkei 225) -0.68%, Hong Kong (Hang Seng) -1.79%, Shanghai Composite -0.70%, Australia (S&P/ASX 200) -1.37%.
- BOJ board member Naoki Tamura assessed that inflation in Japan is sustainable. He also pointed out that the current policy remains accommodative and that interest rates have room for further increases.
- The People's Bank of China (PBOC) set today's USD/CNY reference rate at 6.9398, while forecasts assumed a value of 6.9045.
- In China, new home prices fell 0.4% month-on-month and 3.1% year-on-year in January, the largest annual decline in seven months.
- The yen is fluctuating on the currency market. The yen has been very volatile, and the currency is currently under pressure and losing ground against the strongest currencies. The USD/JPY pair has once again exceeded the 153 level.
- Other major currency pairs are trading in narrow ranges ahead of the US CPI data release. The AUD and pro-cyclical currencies remain under pressure.
- The precious metals market is seeing a slight rebound after yesterday's sell-off. Gold is rising slightly, testing the $4,950 level, while silver is gaining nearly 2% and hovering around $76.50.
- The cryptocurrency market is cautious. Bitcoin is down slightly and below $66,000, as is Ethereum, which is currently trading below $1,950.
Chart of the Day: USD/JPY highly volatile ahead of US CPI
Daily summary: Silver plunges 9% 🚨Indices, crypto and precious metals under pressure
US100 loses 1.5% 📉
🚨Gold slumps 3% amid markets preparing for Chinese Lunar Year pause
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