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investingLive European news wrap: Markets on edge ahead of Trump's Davos speech
Key Takeaways (30s Read)
Markets remain tense ahead of Trump's upcoming speech, with the dollar weakening and gold hitting record highs.
Trump's highly anticipated speech at Davos is approaching, and the markets are fraught with tension as they wait for this key event. U.S. equities are declining along with other benchmarks, while the U.S. 10-year yields have dropped by 1.4 bps to 4.280%, feeding into the nervousness. The dollar, which had been steady earlier, is now retreating, with EUR/USD up 0.1% to 1.1735, having seen a low near 1.1700. On the other hand, USD/JPY is down 0.2% to 157.77 amid stabilizing Japanese bonds after recent volatility.
In the commodities market, gold has surged by 2% and set another record high at $4,856.67, likely driven by heightened demand for safe-haven assets amid uncertainty ahead of Trump's address. WTI crude has also seen a slight uptick to $60.41. Following his speech, Trump is scheduled for several bilateral meetings with European leaders, which raises the stakes for potential market movements afterward.
AI Analyst
AI Opinion
"Trump's speech at Davos constitutes a significant event for market participants. The prevailing anxiety can be linked to previous remarks and actions by the President, which have unsettled investors. The recent decline in the dollar reflects apprehension about potential market volatility prompted by his words. Additionally, gold's climb indicates a quest for safe-haven assets among traders. Moving forward, it's crucial to monitor economic indicators and the outcomes of international discussions, as these will profoundly impact market sentiment. Overall, investors should maintain caution, weighing their options as they navigate this uncertain landscape."
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