📢📢Daily digest market movers: Gold rises on geopolitical risks📢📢
The US Dollar Index (DXY), which tracks the American currency's performance versus six peers, is down 0.36% to 99.02. US Treasury yields rose nearly six basis points on Friday, with the 10-year T-note yield up at 4.227%.$BTC
US President Donald Trump announced the imposition of 10% tariffs on eight countries—Denmark, Norway, Sweden, France, Germany, Finland, the Netherlands and the UK—set to take effect on February 1. He added that the duties would rise to 25% on June 1 unless agreements are reached, linking the move to US ambitions to annex or purchase Greenland.$ETH
The European Union (EU) and the United Kingdom appear poised to retaliate. The EU is reportedly preparing up to €93 billion in counter-tariffs on US goods and is also considering restricting access for American companies to the European market.
Federal Reserve officials entered their blackout period ahead of the January 27-28 meeting, yet the Fed Chair Jerome Powell will attend the hearing of Governor Lisa Cook at the Supreme Court of the United States.
Polymarket reported that the favorite to become the next Fed Chair is Kevin Warsh, as his odds moved from around 40% to 62% as of writing.#MarketRebound #BTC100kNext? #BTCVSGOLD
