FOREX TODAY: OBSERVING EUROZONE GROWTH FIGURES AND MID-TIER US DATA

What you need know on Tuesday, January 30 is as follows:

Early on Tuesday, despite stories about the Chinese housing crisis and growing geopolitical tensions, markets are still cautious. Investors will be eagerly monitoring Germany's and the Eurozone's fourth-quarter GDP growth statistics. The Bureau of Labor Statistics will release the JOLTS Job Openings report for December later in the day, and the Conference Board will release the January data from the US Consumer Confidence Index.

On Monday, the US Dollar Index rose to 104.00, but in the late American session, it lost its momentum. The positive performance of technology stocks contributed to the Nasdaq Composite's daily rise of over 1% and hindered the US Dollar's (USD) ability to hold onto its strength. The USD is bearing more weight as a result of the benchmark 10-year US Treasury bond yield falling below 4.1%.

Major Asian equities indexes saw significant bearish pressure early on Tuesday in response to news on Monday that Hong Kong's High Court had ordered the Evergrande Group to be liquidated. As of the time of publication, the Shanghai Composite was down more than 0.5% and Hong Kong's Hang Seng Index was down 2% for the day.

CNN stated in the interim that US President Joe Biden will probably take stronger action in retaliation than he has in the past following Sunday's horrific attack on a US military installation. Although Biden is expected to approve military action, analysts are becoming more and more alarmed about the region's escalating crisis. Tuesday's European session saw a slight decline in the daily trading of US stock index futures.

US dollar exchange rate for this week

The US dollar's (USD) percentage movement compared to a list of major currencies for this week is displayed in the table below. Against the Euro, the US Dollar was the most robust.

The major currencies' percentage movements relative to one another are displayed on the heat map. The quotation currency is selected from the top row, and the base currency is selected from the left column. For example, the percentage change shown in the box will indicate EUR (base)/JPY (quote) if you select the Euro from the left column and proceed along the horizontal line to the Japanese Yen.

On Monday, the EUR/USD fell below 1.0800 for the first time in more than a month, but it was able to mount a technical recovery. Tuesday morning sees the pair remain stable over 1.0800. In the fourth quarter, the German economy is predicted to contract at an annual pace of 0.2%, while the Eurozone economy is predicted to remain stagnant over that same time frame.

Although the GBP/USD pair dipped on Monday, it had little trouble containing its losses. On Tuesday, the pair is still moving sideways at about 1.2700.

Fumio Kishida, the prime minister of Japan, stated to the legislature on Tuesday that his administration is committed to pursuing wage increases and that they will take all necessary steps to support household income. On Monday, the USD/JPY pair closed lower and in negative territory, falling below 147.50 early Tuesday.

According to data from Australia, December's retail sales decreased by 2.7% on a monthly basis, after increasing by 2% in November. Despite the dismal report, AUD/USD increased during the Asian session and was last seen trading above 0.6600.

Due to the combination of declining US yields and rising global concerns, gold saw a daily increase of more than 0.5%. XAU/USD remains stable just above $2,030 in the early hours of Tuesday.