Morning wrap (19.01.2026)

Open account Download free app

President Donald Trump announced new tariffs on European countries and the United Kingdom, set to take effect on February 1, 2026, at a rate of 10%, and to rise to 25% from June 1 if the United States does not obtain consent to purchase Greenland.
The list of countries covered by the tariffs includes Denmark, France, Germany, the United Kingdom, Sweden, the Netherlands, and Finland, with the initiative framed as a demand motivated by national security considerations.
Europe and the UK immediately outlined retaliatory measures, while at the same time signaling a willingness to negotiate before the tariffs actually take effect.
The European Union is preparing to reinstate a €93 billion package of retaliatory tariffs on US goods, which was suspended last year and could automatically return on February 6 if talks fail.
EU leaders are moving toward an emergency summit to coordinate a unified response and to demonstrate support for Denmark and Greenland.
US equity markets will remain closed today due to the Martin Luther King Jr. holiday.
The US dollar initially strengthened but then fully gave back its gains against the EUR, GBP, AUD, and NZD, reflecting market skepticism over the actual enforcement of the tariffs.
US equity index futures and US Treasury futures opened with a downside gap and remained under pressure, reflecting rising geopolitical and trade uncertainty.
European equity futures are also down by more than 1.00%.
Gold broke to a new all-time high above USD 4,670. Silver rebounded 4.70% to USD 93.300.
Japan’s machinery orders fell 11% m/m in November, more than twice the expected decline, signaling weak investment momentum.
China’s GDP growth slowed to 4.5% y/y in Q4, the weakest pace since the economy reopened, although full-year 2025 growth met the 5% target.
Strong exports offset weak domestic demand, but retail sales (0.9% y/y) and investment (-3.8% y/y) disappointed.
New home prices in China fell 0.4% m/m and 2.7% y/y in December, marking the steepest annual decline in five months. Property investment remains deeply negative (-17.2% y/y), continuing to weigh on confidence.
Cryptocurrencies are seeing a sharper pullback, driven by capital outflows from risk assets as well as delays in the US regulatory process for the market, including the Clarity Act.

19 January 2026, 7:55 AM

Economic calendar: Davos and quarterly earnings on Wall Street 🔎

16 January 2026, 7:14 PM

Daily summary: Banks and tech drag indices up 🏭US industry stays strong

16 January 2026, 5:06 PM

Largest in its class: What do BlackRock’s earnings say about the market?

16 January 2026, 2:57 PM

US OPEN: Bank and fund earnings support valuations.

Economic reports

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days

Morning wrap (19.01.2026)

Join over 2 000 000 XTB Group Clients from around the world