Market Highlight 30/01/2026
U.S. initial jobless claims fell last week. Meanwhile, former President Donald Trump said he plans to announce the next Federal Reserve Chair nominee next week and reiterated that interest rates remain too high. Both the S&P 500 and Nasdaq closed lower on Thursday, as the latest corporate earnings unsettled investors and raised concerns about whether massive investments by tech giants in artificial intelligence will deliver adequate returns. The Dow Jones Industrial Average edged up 0.1%, the S&P 500 slipped 0.1%, and the Nasdaq Composite fell 0.7%. The U.S. dollar weakened against several major currencies as investors remained uncertain about the outlook for U.S. policy.
Gold prices fluctuated overnight and ended marginally lower as investors took profits after the metal reached a record high. However, growing economic and geopolitical uncertainty keeps gold on track for its strongest monthly performance since the 1980s. Spot gold settled at $5,394.88 per ounce, down less than 0.1%, after briefly touching an all-time high of $5,594.82. Crude prices climbed amid concerns that a potential U.S. strike on Iran could disrupt global supply.
Key Outlook 30/01/2026
During the European session, Germany and the Eurozone will release their January unemployment rates, both expected to remain steady at 6.3%. Markets will closely watch whether Germany’s unemployment change improves from the previous 3,000 increase. This will be followed by the Eurozone’s Q4 GDP, with annual growth forecast to slow slightly from 1.4% to 1.3%. In the U.S., the December Producer Price Index (PPI) data will be the main focus. The annual rate is expected to ease to 2.7% from 3.0%, while the monthly figure is projected to hold at a moderate 0.2% increase.
Key Data and Events Today:
- 16:55 EU GERMANY Unemployment Rate DEC **
- 17:00 EU GERMANY GDP Flash Q4 ***
- 18:00 EU GDP Q4 Prel ***
- 21:00 EU GERMANY CPI Prel JAN **
- 21:30 US PPI DEC ***
- 21:30 CA GDP NOV **
Key Data and Events Coming Week:
- Monday: BoJ Summary of Opinions, JP Manufacturing PMI Final JAN, CN Manufacturing PMI JAN, Germany Retail Sales DEC, Germany Manufacturing PMI Final JAN, EU Manufacturing PMI Final JAN, GB Manufacturing PMI Final JAN, US Manufacturing PMI Final JAN, US ISM Manufacturing PMI JAN
- Tuesday: RBA Interest Rate Decision, RBA Press Conference, US JOLTs Job Openings DEC
- Wednesday: US API Weekly Crude Oil Stock, AU Services & Composite PMI Final JAN, JP Services & Composite PMI Final JAN, Germany Services & Composite PMI Final JAN, EU Services & Composite PMI Final JAN, GB Services & Composite PMI Final JAN, EU CPI Flash JAN & PPI DEC, US ADP Employment Change JAN, US Services & Composite PMI Final JAN, US ISM Services PMI JAN, EIA Crude Oil Stock Change
- Thursday: Germany Factory Orders DEC, EU Retail Sales DEC, BoE Interest Rate Decision & Meeting Minutes, ECB Interest Rate Decision, US Balance of Trade DEC, US Initial Jobless Claims, ECB Press Conference
- Friday: New Zealand Holiday, BoC Governor Macklem Speech, Germany Industrial Production DEC, US Non-Farm Payrolls JAN, CA Unemployment Rate JAN, US Michigan Consumer Sentiment Prel FEB
Markets Analysis 30/01/2026
- Resistance: 1.2019/1.2077
- Support: 1.1887/1.1828
EURUSD traded near 1.2019, holding above the 1.20 mark as a softer Dollar offset lingering hawkish Fed signals. Policy uncertainty and trade risks weighed on sentiment. Technically, the pair stays supported above the breakout level, with dips toward 1.1887 attracting buyers while resistance emerges near 1.2077.
- Resistance: 1.3847/1.3880
- Support: 1.3707/1.3681
GBPUSD traded near 1.3779 after the Fed held rates and highlighted labor market stability, supporting the Dollar. Powell’s neutral tone pressured Sterling. Technically, the pair slipped below 1.3780, signalling fading momentum, with downside risk to 1.3707–1.3681 support, while resistance stands at 1.3847-1.3880.
- Resistance: 154.30/155.06
- Support: 152.31/151.73
USDJPY slipped towards 154.30 as softer Dollar sentiment and speculation of U.S.–Japan FX coordination supported the yen. Despite lingering policy divergence, pressure emerged. Technically, the pair is testing 152.31–151.73 support after rejecting 155.06 resistance, suggesting near-term consolidation unless fresh Dollar strength triggers a rebound.
- Resistance: 66.37/66.81
- Support: 64.56/64.13
WTI advanced towards $65.66, a five-month high, as geopolitical tensions around Iran injected a risk premium into prices. Supply concerns kept sentiment firm. Technically, crude is holding above $64.13 support after rejecting $66.37 resistance, signalling strong bullish momentum, though overbought conditions raise the risk of short-term consolidation.
- Resistance: 5597/5721
- Support: 5191/5066
- Resistance: 119.24/120.65
- Support: 107.46/106.10
Gold traded near $5,412 after retreating from a record $5,596, as profit-taking followed a sharp rally, while geopolitical risks sustained safe-haven demand. Technically, price is holding above $5,066 support within an ascending structure; momentum remains bullish, though overbought signals point to near-term consolidation risk.
- Resistance: 49477/49785
- Support: 48749/48436
The Dow Futures rose 0.11%, holding near 48,700 as defensive stocks cushioned tech weakness amid Fed and geopolitical uncertainty. Technically, the index remains supported above 48,436 within an ascending channel, but repeated rejection below 49,477 signals slowing momentum and a potential consolidation phase.
- Resistance: 26094/26269
- Support: 25644/25508
NAS100 fell 0.72% towards 25,800 after Microsoft’s 10% plunge dampened AI optimism and risk sentiment. Technically, the index is testing support near 25,508; a break could expose further downside, while a recovery would require reclaiming the 26,094 – 26,269 resistance to stabilise momentum.
- Resistance: 86439/88009
- Support: 82872/81251
Bitcoin slid to around $83,991, pressured by risk-off sentiment and uncertainty over U.S. “Project Crypto” legislation. Technically, BTC has broken below the $86K–$88K range and is testing support near $81,251. Failure to hold could extend losses, while a recovery would require reclaiming the $86,439–$88,009 resistance.
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