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Forex Market Snapshot
The dollar is trading mixed with the AUD and NZD outperforming while the US currency is up modestly elsewhere after trading softer overnight.
- AUDUSD is up although off its high after spiking up following what is being described as a hawkish rate hike (i.e. 25bps hike as expected but forward guidance indicated 2 more rate hikes this year vs. prior expectations of one more).
- EURUSD is back below the pivotal 1.18 level after trading higher overnight. focus. Is on the pivotal 1.18 level, currently back above it.
- USDJPY is underperforming and holding a bid after weekend comments by PM Takaichi that indicated benefits of a weaker JPY and ahead of the Feb 8 election.
- US stocks are modestly higher.
- US 10 year yield in inching closer to 4.30%
- Reminder, today’s JUS JOLTS and Friday’s US January jobs reports has been delayed due to the partial government shutdown.
US30
U.S. stocks rebounded from early losses this morning and finished higher at the end of the trading day, with the Dow up 1.11%, the Nasdaq up 1.35%, and the S&P 500 up 0.63%. Gains were driven by unexpectedly strong U.S. manufacturing data, as the ISM PMI showed expansion for the first time in a year. The ISM Manufacturing PMI for the US unexpectedly rose to 52.6 from 47.9 in December and much better than forecasts of 48.5.
Newsquawk US Market Wrap Part 2
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Newsquawk US Market Wrap Part 1
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PYPL
PayPal Holdings, Inc. reported $8.42 billion in revenue last quarter, surpassing expectations by 2.2% and up 7.3% year-on-year, and the company is set to report its earnings tomorrow, Tuesday, before the market opens.
For this quarter, analysts expect PayPal’s revenue to increase 4.9% year over year to $8.78 billion, broadly in line with the 4.2% growth recorded in the same quarter last year, while adjusted earnings are projected to be $1.29 per share.
NZDUSD (1HR)
NZD/USD experienced a strong bullish rally from mid-January through the end of the month. This move established a clear upward channel on the 1-hour timeframe.
As February begins, price action has slowed, with the pair currently trading around the 0.6000 psychological level. This area is acting as an important decision zone for the market. A confirmed break below channel support with strong bearish price action would be needed to fully consolidate this change in trend. Caution is advised, as the upcoming news may introduce high volatility and significantly alter the current technical outlook.
Front Month Nymex Crude Fell 4.71% to Settle at $62.14
Front Month Nymex Crude for March delivery lost $3.07 per barrel, or 4.71% to $62.14 today
Largest one day dollar and percentage decline since Tuesday, June 24, 2025
Down for two consecutive sessions
Down $3.28 or 5.01% over the last two sessionsDown 15.06% from 52 weeks ago
Off 5.01% from its 2026 settlement high of $65.42 hit Thursday, Jan. 29, 2026
Up 10.98% from its 2026 settlement low of $55.99 hit Wednesday, Jan. 7, 2026
Off 57.23% from its record high of $145.29 hit Thursday, July 3, 2008
Year-to-date it is up $4.72 or 8.22%BTCUSD (BITCOIN) UPDATE
- Getting a reprieve from the risk on mood after a pause above the key 74325 level cited here as the level that bulls did not want to see broken.
- This sets a floor while it holds but then needs to move back above 80420 to negate the last lrg down.
- Otherwise, consolidation while below it.
BTCUSD WEEKLY CHART
Fed’s Bostic: More hawkish than dovish
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XAUUSD UPDATE
- Bounce off the 4403 low so far repelled around 4800, the bottom of the 4800-5000 key zone cited earlier.
- On the other side, the low is protected while above 4500.
- So, 4500-4800 is a consolidation zone but onus is on any surviving bulls to get back above 4800 at least to cool the risk.
XAUUSD 1 HOUR CHART
Just words so far but sounds like Iran has blinked
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Big ISM P)MI beat… back above 50… employment up, prices paid dip slightly… stocks up, USD up, bond yields up
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XRPUSD Weekly
Lets take a look at Ripple’s bigger picture …
After losing 1.7870 level, there is ample space all the way till 0.90 – but it doesn’t mean that Ripple will fall that much.
1.2800 should provide some good support if XRP wouldn’t be able to go back above 1.7870 in coming weeks.
Pressure is obviously to the down side, but I expect some seri0us Upticks this week – to at least 1.7710
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