USD Index Slides Below 103.00: The US Dollar faces challenges as the USD Index slips below 103.00 during European trading hours. The European Commission is set to release the preliminary Consumer Confidence Index for January.
US Economic Docket Highlights:
Richmond Fed Manufacturing Index for January.
2-year US Treasury note auction in the American session.
GBP/USD turns north, advancing toward 1.2750.
UK Public Sector Net Borrowing for December at £6.8 billion, compared to £12.7 billion in November.
Gold Prices Fluctuate and Rebound:
Gold fluctuates slightly above $2,020 on Monday.
XAU/USD gathers bullish momentum, climbing back above $2,030.
In the currency markets, the US Dollar’s struggle for demand, coupled with central bank developments and economic data releases, shapes the tone for Tuesday’s trading. Investors closely monitor key support levels and economic indicators for potential market movements.