Jobless claims anticipation lifts Dollar, pressures gold
Market focus is on the European Commission's advanced Consumer Confidence report and US Initial Jobless Claims data

The JPY is recovering against the USD
The EUR is trading slightly lower
WTI crude oil is hovering near $75.00
Currencies
The Japanese Yen (JPY) is stabilizing after dipping to its lowest level in over a week against the US Dollar (USD), trading in a balanced range as European markets prepare to open. Investor sentiment toward the yen remains cautiously optimistic, supported by expectations of a potential interest rate hike by the Bank of Japan (BoJ) following its two-day policy meeting concluding on Friday. Additionally, Japan's stronger-than-anticipated trade balance figures have bolstered confidence in the currency.
However, JPY gains are tempered by lingering concerns tied to global trade uncertainties and rising US Treasury bond yields, which lend strength to the USD. Market participants remain cautious, given the divergent policy outlooks between the BoJ and the Federal Reserve (Fed), waiting for further clarity from upcoming announcements and statements.
Euro (EUR)
The Euro (EUR) is trading slightly lower, around 1.0410, during the early Asian trading hours, as the shared currency faces headwinds from renewed trade tensions. The US administration's consideration of imposing tariffs on the European Union adds to the economic uncertainty surrounding the Eurozone. The European Commission is set to release its advanced Consumer Confidence data for January, which could influence short-term market dynamics.
On the US side, the release of Initial Jobless Claims data could provide further cues, while ongoing trade policy developments remain a critical focus for traders. Concerns about slower growth in the Eurozone, compounded by potential tariff threats, continue to weigh on the EUR's performance.
Commodities
Gold
Gold prices have come under pressure during the Asian session, halting a three-day rally that pushed the precious metal to its highest levels since early November, around $2,763–2,764. The safe-haven asset is facing selling interest as the US Dollar gains traction, supported by a rebound in US Treasury yields.
Moreover, the buoyant sentiment in equity markets has reduced demand for traditional safe-haven investments like gold. Investors are closely monitoring macroeconomic trends and market sentiment for further direction.
West Texas Intermediate
WTI crude oil is hovering near $75.00 per barrel, marking a fresh one-week low as traders digest the potential implications of proposed US tariffs. Concerns that these tariffs could dampen global energy demand and economic growth are putting downward pressure on oil prices.
Recent comments from US officials about the possibility of imposing tariffs on goods from Canada, Mexico, and China have intensified fears of economic slowdowns, raising questions about the near-term outlook for crude oil.