U.S. Stock Futures Fall as Trump Imposes Tariffs, Inflation Data in Focus 
Market Roundup
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•US CB Employment Trends Index (Jan) 108.35, 109.23 previous
•US Consumer Inflation Expectations (Jan) 3.0% ,3.0%forecast, 3.0% previous
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Looking Ahead Economic Data(GMT)
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•06:30 French Unemployment Rate (Q4) 7.5% forecast, 7.4% previous
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•10:00 China M2 Money Stock (YoY) (Jan) - 7.3% forecast , 7.3% previous
•10:00 China New Loans (Jan) - Expected: 770.0B forecast , 990.0B previous
•10:00 China Outstanding Loan Growth (YoY) (Jan) - 7.3% forecast , 7.6% previous
•10:00 China Chinese Total Social Financing (Jan) - Expected: 6,400.0B forecast , 2,860.0B previous
Looking Ahead Events And Other Releases(GMT)
• No Events Ahead
Currency Summaries
EUR/USD: The euro dipped on Monday after President Trump’s new tariff plans raised concerns of a global trade war. Trump announced 25% tariffs on all steel and aluminium imports, adding to existing duties in a major escalation of his trade policy. This came shortly after German Chancellor Scholz stated the EU would respond within an hour if tariffs were imposed on European goods, highlighting the potential for an escalating trade conflict. Investors reacted by pushing the dollar slightly higher, with the index tracking the U.S. currency up 0.22% at 108.33. The euro was 0.07% lower at $1.0299. Immediate resistance can be seen at 1.0277(38.2%fib), an upside break can trigger rise towards 1.0328(50%fib).On the downside, immediate support is seen at 1.0219(23.6%fib), a break below could take the pair towards 1.093(Lower BB).
GBP/USD: The pound eased on Monday as investors awaited key UK economic data and BoE speeches this week . British investors are awaiting a series of data releases this week, including GDP estimates for December, preliminary Q4 figures, and industrial and manufacturing output for December. Meanwhile, all eyes will also be on BoE Governor Andrew Bailey, who is slated to speak on Tuesday. The bigger movers in foreign exchange markets Monday were currencies of major steel and aluminium exporters after President Donald Trump said on Sunday he would impose new 25% tariffs on imports of both metals into the U.S . Immediate resistance can be seen at 1.2442(50%fib), an upside break can trigger rise towards 1.2553(61.8%fib).On the downside, immediate support is seen at 1.2316(38.2%fib), a break below could take the pair towards 1.2168(23.6%fib)
USD/CAD: The Canadian dollar weakened against the U.S. dollar on Monday, but the decline was limited as investors balanced the threat of U.S. steel and aluminum tariffs with positive domestic economic data. U.S. President Trump is expected to introduce 25% tariffs on all steel and aluminum imports, escalating his trade policy shakeup. Canada, a major steel exporter to the U.S., accounted for 79% of U.S. primary aluminum imports in 2024's first 11 months. Canada's economy added 76,000 jobs in January, eclipsing expectations for a gain of 25,000, and the unemployment rate unexpectedly dipped to 6.6%, data on Friday showed. The loonie traded 0.1% lower at 1.4310 per U.S. dollar, within a range of 1.4289 to 1.4379. Immediate resistance can be seen at 1.3617(50% fib), an upside break can trigger rise towards 1.3670(61.8% fib).On the downside, immediate support is seen at 1.3565(38.2% fib), a break below could take the pair towards 1.3495 (50% fib).
USD/JPY: The U.S. dollar dipped on Monday as demand for the safe-haven yen rose, following President Trump's warning of imminent tariffs on steel and aluminum. Trump said on Sunday he will introduce new 25% tariffs on all steel and aluminium imports into the U.S., on top of existing metals duties. These tariffs, seen as inflationary, could limit the Federal Reserve's ability to cut rates further. Markets had already reduced expected rate cuts for this year to 36 basis points, down from 42, after an upbeat payrolls report. Fed Chair Jerome Powell is set to testify before the House on Tuesday and Wednesday, with tariffs and their potential impact on policy expected to be a key topic.Immediate resistance can be seen at 152.19 (Daily high) an upside break can trigger rise towards 153.69(38.2%fib). On the downside, immediate support is seen at 150.87(38.2%fib) a break below could take the pair towards 150.00 (Psychological level).
Equities Recap
Europe's benchmark index hit an all-time high on Monday, driven by energy stocks, while markets assessed U.S. President Trump's warning of new tariffs on steel and aluminum imports.
UK's benchmark FTSE 100 closed up by 0.75 percent, Germany's Dax ended up by 0.57 , France’s CAC finished the day up by 0.42 percent.
Wall Street's main indexes closed higher on Monday, boosted by Nvidia and other AI-related stocks, while steelmakers surged following President Trump's announcement of additional tariffs on steel and aluminum imports.
Dow Jones closed down by 0.38% percent, S&P 500 closed up by 0.68% percent, Nasdaq settled up by 0.98% percent.
Commodities Recap
Gold prices extended their record rally on Monday, surpassing the $2,900 mark for the first time, driven by safe-haven demand amid U.S. President Trump's new tariff threats, which heightened concerns over trade wars and inflation.
Spot gold surged 1.6% to $2,905.24 per ounce, as of 01:45 p.m. ET (1845 GMT), after hitting a record high of $2,911.30 earlier in the session. U.S. gold futures settled 1.6% higher at $2,934.40.
Oil prices rose nearly 2% on Monday, recovering after three consecutive weeks of losses, though concerns persisted over the potential for a trade war sparked by U.S. President Trump.
Brent crude futures settled at $1.21, or 1.6%, at $75.87 a barrel, while U.S. West Texas Intermediate crude rose $1.32, or 1.9%, to $72.32.
