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US Dollar Steady Amid Central Banks Decisions

January 30, 2025 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas releases market commentary from Hassan Fawaz Chairman & Founder of GivTrade

The U.S. dollar was steady following the decision of the Federal Reserve yesterday to keep interest rates unchanged. The resilient economic growth and healthy labour market influenced this decision. The Federal Reserve could remain cautious in regard to its monetary policy and could continue to momnitor incoming data. Markets are now anticipating two 25-basis point reductions this year.

In Europe, all eyes are on today's European Central Bank (ECB) interest rate decision. Sluggish economic data from the Eurozone including key economies like Germany and France has heightened expectations of a rate cut, which could weaken the euro against major currencies, including the US dollar. However, inflationary and trade tensions risks could prompt policymakers to adopt a more cautious stance for 2025.

Meanwhile, U.S. Treasury yields declined, with the 10-year note yield hovering near 4.5% as traders expectations move to two cuts this year. Market volatility may increase as the deadline for Trump's proposed trade tariffs on Canada and Mexico approaches. Additionally, upcoming US economic data releases, including GDP growth and PCE numbers, could further influence market sentiment.

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