Forex Today: Major currency pairs remain quiet to start the big central bank week

Source Fxstreet

Here is what you need to know on Monday, January 29:

The action in financial markets remain subdued early Monday as investors prepare for this week's key central bank meetings and macroeconomic events. The European economic docket will not feature any high-tier data releases. Later in the day, the Federal Reserve Bank of Dallas will release the Texas Manufacturing Business Index for January.

The US Dollar Index (DXY) registered small gains in the previous week, supported by upbeat data releases. The index holds steady at around 103.50 in the European morning on Monday, while the benchmark 10-year US Treasury bond yield continues to fluctuate in a tight channel above 4%. In the meantime, geopolitical tensions remain high at the beginning of the week, following news of a drone strike on a US base near Jordan's border with Syria killing three and injuring more than 20 troops. Reflecting the cautious mood, US stock index futures trade modestly lower on the day. On Wednesday, the Federal Reserve will announce monetary policy decisions following the first meeting of the year.

US Dollar price today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Euro.

  USD EUR GBP CAD AUD JPY NZD CHF
USD   -0.02% -0.08% -0.07% -0.22% -0.17% -0.14% -0.10%
EUR 0.03%   -0.04% -0.03% -0.18% -0.11% -0.10% -0.07%
GBP 0.08% 0.06%   0.01% -0.15% -0.05% -0.06% 0.00%
CAD 0.07% 0.04% -0.02%   -0.14% -0.08% -0.06% -0.02%
AUD 0.22% 0.20% 0.14% 0.16%   0.09% 0.09% 0.14%
JPY 0.16% 0.12% 0.21% 0.07% -0.07%   0.00% 0.05%
NZD 0.14% 0.13% 0.06% 0.07% -0.09% -0.01%   0.06%
CHF 0.11% 0.06% 0.00% 0.02% -0.14% -0.05% -0.05%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).

 

EUR/USD seems to have gone into a consolidation phase at around 1.0850 after closing the second consecutive week in negative territory. On Tuesday, Eurostat will release the Euro area's preliminary Gross Domestic Product (GDP) growth for the fourth quarter.

GBP/USD ended the previous week virtually unchanged and extended its sideways grind at around 1.2700 early Monday. UK inflation expectations for the twelve months ahead fell from 4.2% in October to 3.9% and 3.5% in November and December, respectively, a survey conducted by US bank Citi and polling firm YouGov showed on Monday. The Bank of England will announce policy decisions on Thursday.

Following the previous week's indecisive action, USD/JPY trades marginally lower on the day slightly below 148.00 on Monday. In the Asian session on Tuesday, December Unemployment Rate data from Japan will be looked upon for fresh impetus.

Gold registered small losses last week but managed to regain its traction early Monday. At the time of press, XAU/USD was up 0.5% on the day at $2,028.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: Gold Surges Past $4,100 on US Midterms as Market Focuses on October Non-Farm PayrollsAs of the Asian session on Thursday (November 5), gold prices (XAUUSD) extended yesterday's strong rebound, standing above $4,100 intraday today and reaching a high of $4,138.06, up more
Author  TradingKey
8 hours ago
As of the Asian session on Thursday (November 5), gold prices (XAUUSD) extended yesterday's strong rebound, standing above $4,100 intraday today and reaching a high of $4,138.06, up more
placeholder
NAB's 13% profit fall was mostly accounting — the bad-debt line wasn'tNAB's full-year cash earnings fell 13% to A$6.1bn, about 4% below Macquarie's forecast. A A$1.3bn software amortisation charge did most of that; excluding it, earnings were flat at A$7.1bn and the dividend was held at A$1.70. The shares fell as much as 7.9% to A$37.91 before trading 6.19% lower at A$38.62 in Sydney.
Author  Irene Q.
14 hours ago
NAB's full-year cash earnings fell 13% to A$6.1bn, about 4% below Macquarie's forecast. A A$1.3bn software amortisation charge did most of that; excluding it, earnings were flat at A$7.1bn and the dividend was held at A$1.70. The shares fell as much as 7.9% to A$37.91 before trading 6.19% lower at A$38.62 in Sydney.
placeholder
The Dow's 1,569-point day was a rotation, not a breakoutThe Dow jumped 1,569.40 points (+3.03%) to 53,356.12 — its best post-midterm session in 44 years — while the Nasdaq Composite added just 1.44%. Equal-weight S&P versus the Nasdaq 100 had already gapped 14 points before the vote, a 99th-percentile divergence. The index is still 2.54% below its August high.
Author  Irene Q.
15 hours ago
The Dow jumped 1,569.40 points (+3.03%) to 53,356.12 — its best post-midterm session in 44 years — while the Nasdaq Composite added just 1.44%. Equal-weight S&P versus the Nasdaq 100 had already gapped 14 points before the vote, a 99th-percentile divergence. The index is still 2.54% below its August high.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 5, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 5, 2026. Read on for the details.
Author  Mitrade
15 hours ago
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 5, 2026. Read on for the details.
placeholder
WTI struggles below $87.50 as Democrats seek end to Iran war after midterm sweepWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – remains depressed for the second straight day on Thursday, trading just below mid-$87.00s during the Asian session and close to a near one-month low touched the previous day.
Author  FXStreet
16 hours ago
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – remains depressed for the second straight day on Thursday, trading just below mid-$87.00s during the Asian session and close to a near one-month low touched the previous day.
goTop
quote