-
Asian markets showed mixed performance after Trump announced new 25% tariffs on all steel and aluminum imports. The Hang Seng surged 1.5% led by tech stocks, while China's Shanghai Composite rose 0.4%. Japan's Nikkei edged 0.1% lower, and Australia's ASX 200 fell 0.4%.
-
Trump's latest trade measures include plans for reciprocal tariffs to match rates levied by each country, to be announced Tuesday or Wednesday. The EU warned it's ready to respond "within an hour," while Canada, the largest US aluminum supplier, expressed concerns about the impact on integrated supply chains.
-
Chinese tech stocks rallied despite escalating trade tensions, with Baidu jumping 3.5% and Alibaba gaining over 4%. Beijing is reportedly preparing retaliatory measures targeting major US tech companies with antitrust probes, with Apple, Nvidia, Broadcom, and Synopsys potentially in focus.
-
The dollar strengthened 0.2% as markets priced in a slower pace of Fed rate cuts amid tariff-driven inflation concerns. The Japanese yen fell 0.4% to 151.98 despite recent hawkish BOJ comments, while the yuan weakened past 7.3 per dollar to a three-week low.
-
Oil prices rose modestly with Brent at $75.06 and WTI at $71.40, snapping three weeks of declines. Gold approached record highs near $2,881 per ounce as heightened trade tensions boosted safe-haven demand. China's central bank continued gold purchases for the third straight month.
-
Japan posted a record current account surplus of ¥29.3 trillion ($193 billion) in 2024, driven by strong overseas investment returns amid yen weakness. However, both trade and services balances remained in deficit.
-
Federal Reserve Chair Powell is set to testify before Congress on Tuesday and Wednesday, with markets focused on his views regarding trade policy impacts and inflation outlook. January CPI data release coincides with his second day of testimony.
-
Trump also announced plans to halt penny production, citing manufacturing costs of 3.7 cents per coin. The move follows recommendations from Musk's Department of Government Efficiency team, which identified cost inefficiencies in Treasury operations.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
