Prior was -2.2% (revised to -2.1%)Durable goods orders ex-transport 0.5% vs 0.3% expectedPrior 0.1%Durable goods ex-defense 6.6% vs -1.5% prior (revised to -1.3%)Non-defense capital goods ex-air 0.7% vs 0.3% expectedPrior 0.5% (revised to 0.3%)These are very good numbers but the market reaction in the FX market was muted, although we've seen some downside in precious metals and upside in Treasury yields. The ex-air component has been positive for a fifth consecutive month underscoring the better demand environment. New orders for manufactured durable goods in November, up three of the last four months, increased $16.4 billion or 5.3 percent to $323.8 billion, the U.S. Census Bureau announced today. This followed a 2.1 percent October decrease. Excluding transportation, new orders increased 0.5 percent. Excluding defense, new orders increased 6.6 percent. Transportation equipment, also up three of the last four months, led the increase, $15.3 billion or 14.7 percent to $119.3 billion.What does the US Durable Goods Orders data measure?The US Durable Goods Orders indicator is a monthly report that tracks new orders placed with domestic manufacturers for "hard" goods, that is products designed to last three years or more.It is widely considered a leading indicator of the economy’s health because durable goods (like washing machines, computers, and industrial machinery) are expensive, a surge in orders suggests that businesses and consumers feel confident about the future. Conversely, a drop often signals that people are tightening their belts.It's very rarely a market-moving report because the data is volatile and often noisy. The "advance" report (released roughly 26 days after the month ends) is frequently revised a week later in the full "factory orders" report.What’s included in the report?The report covers a broad spectrum of products, typically categorized into:Consumer Goods: Appliances (washers/dryers), cars, and home electronics.Business Capital Goods: Factory machinery, computers, and power tools.Transportation/Defense: Commercial aircraft (a massive component), ships, and military equipment.What the markets watch?Investors and economists don't just look at the "headline" number. They usually dig into two specific sub-metrics to get the "real" story:Core Durable Goods (Ex-Transportation): Transportation orders, specifically from Boeing or the military, are so large and irregular that they can "noise up" the data. Stripping them out provides a clearer picture of steady demand.Non-Defense Capital Goods (Ex-Aircraft): Often called "Core Capex," this is the most important data for many analysts. It represents pure business investment in future productivity, excluding lumpy aircraft and government spending. This article was written by Giuseppe Dellamotta at investinglive.com.

Headlines:Japanese yen pushes higher as intervention risks mountIt's hysteria in the gold market as prices hit another record high: Is this justified?US futures see nervous start to the week, big tech earnings in focusOil prices rebound as Trump mentions "massive armada" heading to IranAnother shutdown looms large after Democrats pull support for government funding billChinese airlines extend free cancellation for Japan flights as tensions lingerGermany January Ifo business climate index 87.6 vs 88.2 expectedMarkets:JPY leads, USD lags on the dayEuropean equities mixed; S&P 500 futures down 0.1%US 10-year yields down 2.2 bps to 4.217%Gold up 2.2% to $5,090.34, Silver up 7.2% to $110.35WTI crude oil up 0.1% to $61.10Bitcoin up 1.5% to $87,821What a start to the new week. The volatility madness and chaos continues as market players stick with dumping the dollar and buying up precious metals. Gold and silver have gone parabolic for the past few weeks and the surge higher today builds on that and then some. Gold has comfortably jumped above $5,000 and eyes a break of $5,100 on the day while silver is in cruise control in breezing past the $100 mark and is now testing waters above $110. Absolutely wicked.As for the dollar, it continues to be dumped hard across the board. Call it the sell America trade. Call it currency debasement. Call it de-dollarisation. It all fits as markets are continuing to punish the greenback for the US administration's erratic and unpredictable policy handling domestically and on the international stage.USD/JPY is the biggest loser, opening with a strong gap lower with yen-tervention fears putting a double whammy on the pair. After the speculated 'rate check' on Friday, there is a high chance Tokyo will step in as they did before previously back in July 2024 and September 2022 shortly after their 'rate check' plays.That saw USD/JPY gap down in a big fall to 153.30 before keeping around the 154.00 level through European trading, down a little over 1% on the day.Besides that, the dollar also struggled across the board with EUR/USD up 0.2% to 1.1850 and USD/CHF down 0.3% to 0.7777. That in turn is pushing EUR/CHF towards the pivotal 0.9200 mark, so do keep an eye out for that as well. Elsewhere, USD/CAD is down 0.1% to 1.3685 and AUD/USD up 0.4% to 0.6920 on the day.In the equities space, the market volatility and uncertainty all around is keeping investors more nervous as we get the week going. US futures opened down by nearly 1% but have pretty much erased that drop in its entirety with S&P 500 futures now down by just 0.1%.While it is Fed week, just be wary that we will have big tech earnings (Microsoft, Meta, Tesla, Apple) reporting this week and month-end shenanigans might also factor into play in the days ahead. That not to mention the potential US government shutdown, with odds now rising dramatically after the ICE shooting of civilian Alex Pretti.It's over to US trading now where the wild swings will continue with Wall Street set to enter the fray. This article was written by Justin Low at investinglive.com.

FUNDAMENTAL OVERVIEWUSD:The US Dollar sold off across the board on Friday following rumours of the NY Fed conducting rate ​checks on the USD/JPY pair. The market took that as a signal of a potential intervention to strengthen the Japanese Yen and the unwinding of positions weighed on the greenback. This wasn’t a fundamental-driven move but a “technical” one. In general, such reactions are eventually faded in the following days. The problem for the dollar is that there’s no strong reason for it to appreciate yet. This week, we have the FOMC decision on Wednesday where the central bank is expected to keep interest rates unchanged and maintain a data-dependent approach for the next rate cuts. There shouldn’t be any surprise at this meeting. February might be key for the US Dollar as we get another set of economic data, with the NFP report likely being pivotal for the market pricing. In fact, we’ve been seeing notable improvements in the US Jobless Claims data that could point to a re-acceleration in the labour market. The market is still pricing 48 bps of easing by year-end. Those bets are likely to be pared back in case the data strengthens and should provide support for the greenback.CHF:On the CHF side, nothing has changed. The SNB left everything unchanged at the last meeting and sounded a bit more positive on the future outlook given the lower US tariff rate. SNB’s members continue to repeat that the bar for negative rates remains high, so that leaves the Swiss Franc trading mostly based on risk sentiment. USDCHF TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that USDCHF broke below the key 0.7871 level and extended the drop into new cycle lows. There’s not much we can glean from this timeframe, so we need to zoom in to see some more details.USDCHF TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we can see that we have a downward trendline defining the bearish momentum on this timeframe. From a risk management perspective, the sellers will have a better risk to reward setup around the trendline to position for a drop into new lows. The buyers, on the other hand, will look for a break higher to pile in for a rally into the 0.80 handle next.USDCHF TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, we can see that we have a minor resistance zone around the 0.78 handle. The sellers continue to lean on it with a defined risk above it to keep pushing into new lows. The buyers will look for a break higher to pile in for a pullback into the trendline. The red lines define the average daily range for today. UPCOMING CATALYSTSTomorrow we have the weekly US ADP jobs data and the US Consumer Confidence report. On Wednesday, we have the FOMC policy announcement. On Thursday, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the US PPI report. This article was written by Giuseppe Dellamotta at investinglive.com.

FUNDAMENTAL OVERVIEWLast Thursday, Trump spoke to the press about different topics following the meetings in Davos at the World Economic Forum. The comment that caught oil traders' attention was him saying that a "massive armada" was heading in the direction of Iran. Oil prices started to rise on potential hedges into the weekend risk.The risk of an escalation will likely keep oil prices underpinned for the time being, so we might just get stuck in a long consolidation. On the macro side, the Fed's dovish reaction function and the possibility of further improvement in the US labour market data will likely keep supporting the market.OIL TECHNICAL ANALYSIS - DAILY TIMEFRAMEOn the daily chart, we can see that the price eventually bounced on the support zone around the 58.80 level as the buyers stepped in with a defined risk below the support to position for a rally into the 66.00 handle. The sellers will need the price to break below the support to invalidate the bullish setup and extend the drop into the 55.00 handle next.OIL TECHNICAL ANALYSIS - 1 HOUR TIMEFRAMEOn the 1 hour chart, we can see that we have an upward trendline defining the bullish momentum on this timeframe. The buyers will likely continue to lean on the trendline to keep pushing into new highs, while the sellers will look for a break lower to pile in for a drop back into the 58.80 support. This article was written by Giuseppe Dellamotta at investinglive.com.

Bitcoin Technical Analysis Today - orderFlow Intel Signals a Late-Stage Intraday ShiftLive orderFlow Intel Update – Bitcoin FuturesTimestamp: Jan 26, 2026, 11:20 ET (16:20 GMT)Earlier today, Bitcoin futures spent several hours rotating inside a defined value area, with order flow showing slowing downside momentum but little evidence of committed buying. That balance phase suggested repair rather than an immediate reversal, keeping the short-term outlook cautious and range-bound.Over the past hour, however, conditions have begun to shift. Bitcoin futures have seen renewed downside pressure, with price slipping toward the lower portion of the developing value area. Recent short-term order flow shows more consistent selling activity, while rebound attempts have struggled to regain and hold prior intraday reference levels.Importantly, selling pressure is now appearing with slightly better follow-through than earlier, while upside responses remain shallow. This tilts the near-term bias back toward the downside, even as price approaches an area where responsive buying previously emerged.At this stage, the market is moving away from balance and back into a bearish-to-neutral short-term posture, though confirmation is still required.What would change the view:Bearish continuation: Sustained acceptance below the lower value area with expanding volume.Stabilization scenario: Failure to extend lower followed by renewed acceptance back inside value.Until one of these paths becomes clear, orderFlow Intel continues to favor discipline and level awareness over aggressive positioning.This update reflects evolving intraday conditions using orderFlow Intel as a decision-support framework. It is not financial advice. Trade at your own risk/// Previously today:Bitcoin futures are trading in a late bullish intraday phase, where price is still supported structurally, but momentum and efficiency are fading. This does not yet qualify as a bearish reversal, but it does mark an important transition zone where traders need to shift from chasing moves to reading reactions.Using orderFlow Intel, we analyze Bitcoin through two intraday lenses:A 200-range volumetric chart to understand the broader intraday contextA 100-range volumetric chart to time execution and detect early shifts in controlThis combination helps traders understand not just where price is, but how healthy the move actually is.orderFlow Intel ScorecardIntraday Context Score (200-Range Volumetric)Score: +2 / +10 - Slightly Bullish, WeakeningThe broader intraday structure remains upwardPrice is still holding above VWAP and the mid-channelMomentum expansion has slowed significantlyVolume is increasingly absorbed rather than converted into new highsEducational note: When a market remains above VWAP but struggles to push higher with volume, it often signals that early trend participants are distributing positions to late buyers. This is a normal and healthy market phase, but it reduces trend-trading opportunities.Execution Timeframe Score (100-Range Volumetric)Score: -1 / +10 - Neutral to Slightly BearishMultiple upside attempts fail to gain follow-throughBuyers are active, but their effort produces limited progressSellers appear at key reference levels without aggressive pressureVWAP acts as a gravity center rather than a launch pointEducational note: New traders often assume that green candles mean strength. orderFlow Intel teaches that efficiency matters more than color. When price moves up but repeatedly stalls near the same levels, it suggests absorption rather than momentum.What orderFlow Intel Is RevealingAcross both timeframes, Bitcoin is showing consistent behavior:Repeated tests of upper value without acceptanceRotations back toward VWAP after each push higherHigh interaction volume inside value, not above itThis is a textbook example of a market transitioning from trend to balance.For newer traders, this phase is important to recognize because:Breakouts fail more oftenRisk-reward deteriorates for trend continuation tradesPatience and level-based execution outperform predictionKey Bitcoin Levels Traders Should WatchThese are decision-support levels, not predictions.Upper Resistance Zone88,900 to 89,650Prior value highsRepeated seller responseWeak delta efficiency on bullish attemptsIf Bitcoin accepts above this zone with expanding delta and volume, the bullish intraday structure would regain credibility.Mid-Value Control Zone87,500 to 87,900Developing balance areaFrequent rotation and acceptanceHigh two-sided tradeAs long as price remains here, traders should expect chop and reduced trend quality.VWAP and Lower Value Support87,000 to 87,200VWAP and lower channel confluenceKey level where intraday control shiftsA clean acceptance below this zone would mark a transition from balance into a bearish intraday phase, with improved risk-reward for short setups.How Traders Can Use This IntelligenceWhen Bitcoin Holds Above VWAPFavor short-term, reaction-based tradesReduce position sizeTake partial profits earlierAvoid chasing upside moves without confirmationWhen Bitcoin Accepts Below VWAPBearish setups gain priorityMean reversion gives way to directional downsideStructure and order flow align for better probability tradesEducational takeaway: orderFlow Intel is not about predicting direction. It is about recognizing when the market’s behavior changes, and adapting risk accordingly.The Bigger PictureBitcoin is not weak. Bitcoin is not strong.Bitcoin is being tested.The current order flow pulse suggests a market that is still structurally intact, but increasingly sensitive to failed continuation. This is where professional traders slow down, observe more, and wait for confirmation.That is the core philosophy behind orderFlow Intel at InvestingLive.com. We focus on decision support, not headlines.Follow Our Real-Time Market UpdatesFor ongoing updates, trade ideas, and market intelligence across crypto, indices, commodities, and equities, follow our free Telegram channel:? https://t.me/investingLiveStocksWe share level-based insights, order flow observations, and risk-managed trade ideas across multiple instruments, not just Bitcoin.You are also welcome to see today's technical analysis for the S&P 500. This article was written by Itai Levitan at investinglive.com.

LUGANO, SWITZERLAND – January 26, 2026– Telcoin Association announced today that its TEL token is now listed on Kraken, one of the world's largest and most established cryptocurrency exchanges. With over 13 million registered users across 190+ countries, Kraken provides TEL with immediate access to a global trading community on regulated infrastructure spanning the United States, Europe, and major markets worldwide.TEL is the native token of Telcoin Network, the telecommunications blockchain standard. By aligning GSMA mobile operators around the same blockchain and token, Telcoin harnesses their global reach to connect billions of users through shared infrastructure for the next generation of money, capital markets, and finance.The listing connects two platforms building regulated bridges between traditional finance and blockchain. Kraken was the first cryptocurrency exchange to receive a U.S. bank charter and holds licenses under FinCEN, the UK's Financial Conduct Authority, and European regulators through MiCA. In parallel with the Telcoin Association's work uniting telecoms around blockchain, Telcoin Digital Asset Bank, a subsidiary of Telcoin, received the first Digital Asset Depository Institution charter in U.S. history in November and issued eUSD, the first bank-issued stablecoin, in December.Users can now buy, sell, and hold TEL directly on Kraken. Deposits and withdrawals are enabled on Polygon Network, with trading live against USD and EUR."Kraken has spent over a decade proving that regulated exchanges can operate at global scale," said Parker Spann, Founder of Telcoin Association. "Telcoin Network is proving that mobile operators can run blockchain as a network service, unifying telecoms and their subscribers around shared infrastructure. This listing gives Kraken's traders access to the Internet of Money, and gives our community access to one of the most trusted platforms in the industry."The listing arrives as Telcoin Network prepares for mainnet launch in 2026, with mobile network operators activating as validators across multiple continents. This expanded exchange access builds liquidity and community reach in advance of full network deployment, positioning TEL holders to participate as the network transitions from development to live operations.About Telcoin AssociationTelcoin Association governs Telcoin Network and TEL, establishing the blockchain and token standard for the global telecommunications industry. By coordinating infrastructure deployment and validation by mobile network operators and the GSMA consortium, Telcoin Network connects blockchain services to every mobile phone globally. The Association operates as a Swiss Verein, providing democratic governance through four Miner Groups and five specialized Councils.About KrakenFounded in 2011, Kraken is one of the world's largest and longest-operating cryptocurrency exchanges. The first cryptocurrency company to receive a U.S. bank charter, Kraken serves over 13 million users across 190+ countries under regulatory oversight including FinCEN, the UK Financial Conduct Authority, and European authorities through MiCA. This article was written by IL Contributors at investinglive.com.

FUNDAMENTAL OVERVIEWUSD:The US Dollar sold off across the board on Friday following rumours of the NY Fed conducting rate ​checks on the USD/JPY pair. The market took that as a signal of a potential intervention to strengthen the Japanese Yen and the unwinding of positions weighed on the greenback. This wasn’t a fundamental-driven move but a “technical” one. In general, such reactions are eventually faded in the following days. The problem for the dollar is that there’s no strong reason for it to appreciate yet. This week, we have the FOMC decision on Wednesday where the central bank is expected to keep interest rates unchanged and maintain a data-dependent approach for the next rate cuts. There shouldn’t be any surprise at this meeting. February might be key for the US Dollar as we get another set of economic data, with the NFP report likely being pivotal for the market pricing. In fact, we’ve been seeing notable improvements in the US Jobless Claims data that could point to a re-acceleration in the labour market. The market is still pricing 48 bps of easing by year-end. Those bets are likely to be pared back in case the data strengthens and should provide support for the greenback.AUD:On the AUD side, the currency surged following the blockbuster Australian jobs report last week that triggered a hawkish repricing in interest rates expectations with traders now expecting a rate hike already at the upcoming RBA meeting (63% probability). As a reminder, the RBA at the last policy decision sounded more hawkish following a series of higher-than-expected inflation reports. The central bank also discussed whether a rate hike might be needed at some point in 2026. This week we have the Australia’s quarterly inflation report. We will likely need very soft data to bring the February rate hike probabilities below 50%. Another hot report is going to seal the rate hike. AUDUSD TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that AUDUSD finally reached the 0.69 handle with the price now trading a bit above it. We are now at a very strong resistance zone that capped the upside since 2023. We can expect the sellers to step in around these levels with a defined risk above the resistance to position for a pullback into the trendline. The buyers, on the other hand, will look for a breakout to increase the bullish bets into new highs.AUDUSD TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we can see that we have an upward trendline defining the bullish momentum on this timeframe. If we get a pullback, we can expect the buyers to lean on the trendline with a defined risk below it to position for a rally into new highs. The sellers, on the other hand, will look for a break lower to increase the bearish bets into the major trendline.AUDUSD TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, we can see that we have another minor trendline defining the bullish momentum on this timeframe. The buyers will likely continue to lean on the trendline to keep pushing into new highs, while the sellers will look for a break lower to extend the pullback into the next trendline. The red lines define the average daily range for today. UPCOMING CATALYSTSTomorrow we have the weekly US ADP jobs data and the US Consumer Confidence report. On Wednesday, we have the Australian quarterly CPI report and the FOMC policy announcement. On Thursday, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the US PPI report. This article was written by Giuseppe Dellamotta at investinglive.com.

Just last week, betting odds have a US government shutdown at around 10% only. But after the shooting death of civilian Alex Pretti by federal agents, it has changed things completely. Just days ago, a full-year funding deal seemed within reach. Now, Democrats are vowing to oppose the funding bill for the Department of Homeland Security (DHS).As a reminder, the last day to pass the government funding is 30 January and it has to be done before midnight. After which if there is no compromise to be struck, we'll likely see a partial government shutdown once more.Currently, betting markets have odds of a shutdown surge up to around 70%. So, why does this all matter for markets?It brings us back to the same episode we saw in October last year. If the government does enter another shutdown, the Bureau of Labor Statistics (BLS) will immediately suspend almost all operations. Unlike government bodies like air traffic controllers (DOT) and border agents (DHS), the BLS is not deemed as "essential". As such, data collection stops and once again we'll be left without key US economic data to work with for the weeks ahead.What key economic data releases will be impacted by a shutdown this time around?The most immediate will be the release of the upcoming January labour market report. Yes, the non-farm payrolls report will once again be impacted and we might be in a situation where it is postponed indefinitely. This release is scheduled for 6 February.And if the shutdown drags on, that will also likely delay the next consumer price inflation (CPI) report for January. That is scheduled to be released on 11 February. As a reminder, it was the October CPI report that was skipped and is leaving a bit of a blip in the historical data estimates now.So once again, the Fed might very well have to "fly blind" to start the new year. And it isn't helped by the fact that policymakers and markets are also still trying to work out the impact of the previous shutdown on the numbers in the labour market and inflation reports.What a mess. This article was written by Justin Low at investinglive.com.

Introduction: What Is a Spread in Trading?In trading, a "spread" is the difference between two prices: the bid price and the ask price. The bid price is the highest amount a buyer is willing to pay for an asset, while the ask price is the lowest amount a seller is willing to accept. This gap is an important cost for traders and a way for brokers to earn money.Spreads exist in all types of markets, including foreign exchange (forex), stocks, commodities, and contracts for difference (CFDs). For example, in forex trading, if the currency pair EUR/USD has a bid price of 1.1000 and an ask price of 1.1002, the spread is 0.0002, or 2 pips.Example:Bid price: 1.1000Ask price: 1.1002Spread: 2 pips (this is the cost to open the trade)For traders, smaller spreads mean lower costs, which can increase profits, especially for those who trade frequently, like scalpers or day traders.How Spreads WorkWhen you make a trade, you incur a cost that is included in the process of opening a position. Here’s how it works step by step:Bid and Ask PricesBid price: The price at which you can sell an asset.Ask price: The price at which you can buy an asset. The difference between these two prices is called the spread.Spread as a Trading CostWhen you open a position, you start with a small loss equal to the spread. For you to break even, the market must move in your favor by at least the size of the spread.Spread SizeSpreads are measured in pips for forex or in price points for other markets, indicating the cost of trading. Major forex pairs, like EUR/USD, often have very tight spreads (0.1–2 pips), while exotic pairs or less popular assets can have much wider spreads.Broker Pricing ModelsMarket Maker brokers often provide fixed price differences that remain constant, even during market fluctuations.ECN/STP brokers typically provide variable spreads, which can change based on market conditions but are often narrower during normal trading times.Example: If the bid price of GBP/USD is 1.2500 and the ask price is 1.2503, the spread is 3 pips. If you buy at 1.2503, the price must rise to at least 1.2506 for you to cover the cost.Types of Spreads (Fixed vs. Variable)Brokers generally offer two types of spreads: fixed and variable (also known as floating). Each type has its advantages and disadvantages, depending on your trading style.Fixed SpreadsThe gap between the bid and ask prices stays consistent, no matter the market conditions. This type is common with market maker brokers and is easier for beginners to understand since the costs remain the same.Downside: Fixed spreads are usually higher than average variable spreads, especially during calm market conditions.Example: If EUR/USD always has a 2-pip spread, it remains the same whether the market is quiet or highly active.Variable (Floating) SpreadsThe gap between bid and ask prices changes based on how many buyers and sellers are in the market and how much prices are moving. This type is common with ECN/STP brokers and can be very low during times of high liquidity (like when the London and New York markets overlap).Downside: Spreads can widen significantly during news releases or times of low liquidity.Example: EUR/USD might have an average spread of 0.2–0.5 pips during busy hours but could widen to 3–5 pips during major news events.Which Is Better?Fixed spreads: Ideal for beginners and those who want predictable costs.Variable spreads: Better for active traders, scalpers, and those trading during busy market hours.Tip for beginners: If you are just starting, a fixed-spread account may feel safer. As you gain experience, you might prefer the flexibility and lower costs of variable spreads.Why Low Spreads Matter for TradersSpreads are a hidden cost of trading. The smaller the price difference, the less the market needs to move in your favor for you to make a profit. Here’s why low spreads are important:Lower Trading CostsNarrower price gaps decrease the expenses associated with entering and exiting trades. This is especially crucial for scalpers and day traders who make many trades in one session.Faster Break-Even PointWith low spreads, trades can reach break-even more quickly. Broader price gaps require more significant market movements just to break even.Better for High-Frequency StrategiesTechniques such as scalping and algorithmic trading rely on seizing minor market fluctuations. Low spreads make these strategies more effective.Greater Profit PotentialThe lower your costs, the greater your retained profit. Over time, this difference can add up significantly.Transparency and Fair PricingLow spreads often indicate access to true market pricing, especially with ECN/STP brokers. This creates trust and reduces conflicts of interest.Example: A scalper executes 20 trades in a day, aiming for 5 pips profit each time.With a 2-pip spread, the trader keeps 3 pips per trade, totaling 60 pips.With a 0.5-pip spread, the trader keeps 4.5 pips per trade, totaling 90 pips.The difference in spreads increases overall profit by 50%.Factors That Affect SpreadsPrice differences can change; they can widen or tighten due to several factors. Here are the main ones:Market LiquidityHigh market activity leads to smaller spreads: Major forex pairs like EUR/USD or USD/JPY often have spreads below 1 pip during busy trading hours.Low trading activity leads to wider price differences: Exotic pairs or niche assets usually have wider price differences due to fewer buyers and sellers.Market VolatilityDuring major news releases (like interest rate changes), spreads can widen significantly as prices shift quickly and liquidity providers protect themselves.Time of DayPrice differences are typically lowest during high-volume trading sessions (such as when London and New York markets overlap) and widest during off-hours (like when the Asian session closes or before major markets open).Broker TypeMarket makers often offer fixed spreads but at slightly higher levels. ECN/STP brokers provide variable spreads that can be very low under normal conditions.Asset ClassForex majors typically have the lowest spreads.Commodities and indices have moderate spreads.Cryptocurrencies and exotic pairs often have higher spreads due to volatility and limited liquidity.Account TypeSome brokers offer specialized low-spread accounts (like ECN or Pro accounts) with raw spreads but charge a commission per trade.Example: EUR/USD might have a 0.2-pip spread during London trading hours but widen to 3–5 pips during significant news events like Non-Farm Payrolls.Spread Costs in Practice – ExamplesTo understand how price differences affect real trades, let’s look at a few simple scenarios.Example 1: Tight Spread (Advantage)Instrument: EUR/USDBid/Ask: 1.1000 / 1.1001Spread: 1 pipTrade size: 1 lot (100,000 units)Cost: Each pip = $10 → Spread cost = $10Example 2: Wide Spread (Disadvantage)Instrument: GBP/JPYBid/Ask: 160.000 / 160.050Spread: 5 pipsTrade size: 1 lotCost: Each pip ≈ $9 → Spread cost = $45Example 3: Scalper ImpactA scalper opens 20 trades per day on EUR/USD.With a 1-pip price difference, total daily transaction costs = $200 (20 × $10).With a 0.2-pip spread, total daily spread costs = $40 (20 × $2).Savings: $160 per day just from lower spreads.Example 4: Commission + Low SpreadAn ECN broker offers a raw spread of 0.1 pip but charges a $7 commission per lot.Cost = $1 (spread) + $7 = $8 total per trade.This is still cheaper than paying a 2-pip spread ($20 cost).Lesson: Even small changes in spreads can greatly affect your costs, especially if you trade often. Over weeks or months, low spreads can save thousands in trading costs.Spreads vs. CommissionsWhen trading, your costs typically come from two main sources: spreads and commissions. How these are charged depends on the broker and account type.Spread-Only AccountsBrokers include their fee in the spread. No separate commission is charged. This is simpler for beginners, but spreads are usually wider.Example: EUR/USD spread = 2 pips. Cost = $20 per lot (no commission).Commission + Raw Spread AccountsBrokers provide access to raw market spreads, often close to 0.0 pips. A fixed commission is charged per trade (e.g., $6–$10 per lot). This is popular with ECN/STP brokers.Example: EUR/USD spread = 0.2 pips ($2) + $7 commission = $9 total cost, which is cheaper than a wider 2-pip spread.Which Is Better?Spread-only accounts are easier for beginners who want predictable costs.Commission + raw spread accounts are better for scalpers, day traders, and professionals who prioritize low costs on frequent trades.Tip for traders: Always calculate your total trading cost (spread + commission) before choosing an account type.Who Benefits Most From Low Spreads?While all traders can save money with lower spreads, some groups benefit more than others:ScalpersScalpers make many trades daily, often targeting just a few pips of profit. Low spreads are crucial; even a 1-pip difference can determine if their strategy is successful.Day TradersDay traders also make multiple trades in a session. Lower spreads help reduce transaction costs and improve overall returns.High-Frequency and Algorithmic TradersTrading bots and algorithms rely on efficiency. Very low spreads allow strategies based on small price movements to remain viable.Large-Volume TradersProfessional traders who trade multiple lots at once save significantly on costs when spreads are tight.Active Forex and CFD TradersForex majors (like EUR/USD, GBP/USD, USD/JPY) often have the tightest spreads, making them appealing for active traders who want efficient execution.Example: A scalper making 50 trades a day with 1 lot each could pay $500 in costs with a 1-pip spread but only $100 with a 0.2-pip spread, resulting in massive savings over time.How to Find Brokers With Low SpreadsNot all brokers provide the same pricing, so it’s important to compare them thoroughly. Here’s how to find trustworthy brokers with competitive spreads:Check RegulationAlways start with a regulated broker (like those regulated by FCA, ASIC, CySEC, NFA, etc.). The safety of your funds is more important than just having tight spreads.Compare Spreads on Major PairsMost brokers advertise spreads on popular pairs like EUR/USD or GBP/USD. Look for brokers that offer average spreads below 1 pip on these pairs.Consider Account TypesStandard accounts: Have wider spreads and no commission.ECN/Pro accounts: Offer raw spreads (close to 0.0 pips) plus a commission. Choose based on your trading style.Review Trading ConditionsCheck for:Commission rates (per lot).Swap/overnight fees.Minimum deposit requirements.Test in a Demo or Small AccountBefore committing, test the broker’s price differences in real market conditions. Some brokers may advertise low spreads but widen them during volatile events.Watch for Hidden CostsAvoid brokers that have:Unexplained “administration” fees.High withdrawal charges.Slippage disguised as spread widening.Tip for beginners: A great starting point is to visit our Best Low-Cost Brokers of 2025 page, where you can compare brokers side by side based on pricing, regulation, and trading conditions.Quick Glossary of Spread TermsSpread: The difference between the bid (sell) and ask (buy) price of an asset.Bid Price: The highest price a buyer is willing to pay.Ask Price: The lowest price a seller is willing to accept.Pip: The smallest standard unit of movement in forex trading (usually 0.0001 for most pairs).Fixed Spread: A spread that remains constant, regardless of market conditions.Variable (Floating) Spread: A spread that changes based on liquidity and volatility.Raw Spread: The true bid-ask difference from liquidity providers, often near 0.0 pips, usually paired with a commission.Commission: A broker fee charged per trade in addition to spreads, common with ECN accounts.Depth of Market (DOM): A tool showing available buy and sell orders at different price levels.Slippage: When an order is executed at a different price than requested, often during high volatility.All-In Cost: The total cost of a trade, including spreads, commissions, and any other fees.Final Thoughts / Next StepsSpreads may seem like a small detail, but they play a significant role in overall trading expenses and profitability. Every trade starts with the spread as a built-in expense, so the narrower the price difference, the quicker you can break even and retain more of your earnings.Here’s the best approach for traders:Understand spreads first: Know how they work and how they affect your trades.Choose the right account type: Fixed spreads for predictability, or raw spreads + commission for lower long-term costs.Factor in total costs: Always consider both price differences and commissions before evaluating a broker’s pricing.Trade liquid markets: Focus on major forex pairs or high-volume assets where spreads are naturally tighter.Select a regulated broker: Narrow price differences are beneficial only if your funds are secure.Over time, reducing trading costs can significantly impact your overall results, especially for active traders. By choosing the right broker and account type, you can trade more efficiently and keep more of your profits.Legal DisclaimerThis content is for educational purposes only. Nothing on this page is financial advice or a solicitation to buy or sell any security, derivative, or broker service. Trading involves risk. Past performance does not guarantee future results. Always verify broker licensing on official regulator registers before opening an account.Continue Your Trading JourneyIf you’re ready to explore new markets, our next guide, "What Is Futures Trading – A Beginner’s Guide," explains how futures contracts work, why traders use them, and the steps to start trading futures safely.If you’re looking for brokers with the best pricing, visit our "Best Low-Spread Forex Brokers of 2025" page for a side-by-side comparison of trusted, regulated brokers offering tight spreads and fair trading conditions.Beginner FAQWhat is a spread in simple terms?A spread is the difference between the buying price (ask) and the selling price (bid) of a financial instrument. It represents the cost of opening a trade.What is a good price difference in forex?For major currency pairs like EUR/USD, a good spread is usually below 1 pip during active trading hours.Do low spreads always mean better trading conditions?Not always. Some unregulated brokers might promote very low price differences but could have hidden fees or execution problems. Always consider the total cost and choose a regulated broker.Why do spreads widen?Spreads can widen during times of high volatility, major news releases, or periods of low liquidity (like late market hours).Are spreads the same for all brokers?No. Spreads vary depending on the broker, account type, and whether the broker uses a market maker or ECN/STP model.Which traders benefit most from low spreads?Scalpers, day traders, and high-volume traders benefit the most because they open multiple trades and need costs as low as possible.Can spreads be zero?Some ECN brokers offer raw spreads close to 0.0 pips, but they charge a commission per trade. The actual cost is the spread plus the commission combined.What’s better: fixed or variable spreads?Fixed spreads offer predictable costs, making them better for beginners. Variable spreads usually have lower average costs, making them better for active traders.How can I check a broker’s spreads?Most brokers publish average spreads on their website. This article was written by Itai Levitan at investinglive.com.

FUNDAMENTAL OVERVIEWGold extended the gains into new record highs today following a strong selloff in the US Dollar on yen intervention risks. The narratives underpinning gold continue to be de-dollarisation, geopolitical tensions, and so on. Nothing new really. I would say that this is now more about FOMO rather than something fundamental. I’m not saying that the long-term trend is over, but the current levels are not justified in the short-term. I think we are at an inflection point and February could be the first major negative month for precious metals if the right conditions fall in place. This week, the focus will be on the FOMC decision on Wednesday and the US jobs data on Tuesday and Thursday. The biggest event could eventually be the new Fed chair announcement. Betting markets now see BlackRock’s Rieder as the favourite. Rieder or Waller would ease Fed independence risks and could weigh on precious metals. The other major catalyst could be the US NFP report next week. We’ve been seeing improvements in the US Jobless Claims data that seem to suggest a pickup in labour market activity. A strong report would trigger a hawkish repricing in interest rate expectations and put pressure on gold. In case we don’t get the bearish catalysts, gold could keep climbing just by inertia. GOLD TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see gold broke through the 5,000 level and extended the gains into new record highs. We might have formed a channel, and the price is now trading right at the top trendline. The sellers will likely step in around these levels with a defined risk above the channel to position for a correction into the bottom trendline. The buyers, on the other hand, will look for a break higher to increase the bullish bets into new record highs.GOLD TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we can see that we have a minor upward trendline defining the bullish momentum on this timeframe. The buyers will likely continue to lean on the trendline to keep pushing into new record highs, while the sellers will look for a break lower to pile in for a drop into the next trendline.GOLD TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, we can see that the price is trading at the upper bound of the average daily range for today. In such instances, we can generally see some consolidation or a pullback before the next move. More aggressive sellers might look for a break below the minor swing level at 5050 to pile in for a pullback into the trendline. UPCOMING CATALYSTSTomorrow we have the weekly US ADP jobs data and the US Consumer Confidence report. On Wednesday, we have the FOMC policy announcement. On Thursday, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the US PPI report. This article was written by Giuseppe Dellamotta at investinglive.com.

Prior 87.6Current conditions 85.7 vs 86.0 expectedPrior 85.6Expectations 89.5 vs 90.3 expectedPrior 89.7German business sentiment stagnates to start the year with the expectations/outlook index dropping a little. The current conditions shows a marginal improvement but it's nothing optimistic and doesn't really suggest a material betterment in business activity. As price pressures continue to hold higher, that's biting at the overall economy.The manufacturing sector also remains on edge, still in recession territory, and that's offsetting any positive momentum from the services sector. That has been the case for well over a year now in Germany.Meanwhile, employment conditions are also starting to worsen as of late and that will be another worrying spot to watch out for this year for the economy. This article was written by Justin Low at investinglive.com.

S&P 500 Technical Analysis After the Gap Down at This Week’s Open – Why Traders Needed Patience Near Friday’s CloseThe S&P 500 opened the new trading week on Monday, January 26, 2026, with what looked like a scary gap down. From Friday’s close near 6,933.75, futures briefly dropped to around 6,879, a move of more than 50 points.For many traders, that kind of opening move immediately triggers fear, urgency, and short-selling instincts.But this is exactly where a solid technical map matters.Instead of reacting emotionally to the size of the gap, experienced traders focus on key technical junctions, how price behaves around them, and what that behavior tells us about probability. In this case, the early price action delivered an important lesson about gap dynamics, liquidity, and why shorting too early is often a mistake.Why the Previous Trading Day Close Matters After a Gap DownWhen markets gap down at the open, especially after a weekend, many traders talk about “yesterday’s close.” In reality, the reference point is the previous trading day close, which in this case was Friday, since Sunday trading was closed.As price moved higher during Monday’s session, futures were still slightly below Friday’s close, shown by the small negative percentage on the chart. That detail matters more than it may seem.Here is why.After a gap down, a common pattern unfolds:Some traders short the market early, assuming momentum will continue lowerOthers wait for a partial retracement and then enter shortsMany of those shorts place their stop-loss orders just above Friday’s closeThis creates a clear liquidity pocket above the previous close. Market participants with size, including algorithms and market makers, are well aware of this behavior.Liquidity attracts price.Stop-Hunt Dynamics Near the Gap FillAs price grinds higher toward the previous close, two forces often combine.First, stop-hunt dynamics come into play. When stops are clustered just above a well-known reference level like Friday’s close, it becomes easier for price to push slightly higher, close the gap, and even overshoot briefly. That move clears out short positions and releases liquidity into the market.Second, natural dip buying often joins the move. Some buyers are not thinking about stops at all. They are responding to technical structure, support, or broader trend context and simply see value.When these forces align, the probability of a full gap close increases sharply.This is why shorting the market right before a gap is filled is often poor timing. Even if the broader outlook later turns bearish, the risk-reward at that moment is usually unfavorable.Technical Structure That Supported BuyersBeyond gap mechanics, the chart itself provided several constructive signals.The gap down landed directly on a retest of a bullish structure, including a channel and a bull flag. That retest held cleanly, and buyers stepped in decisively.There was also an anchored VWAP reference from a prior contract rollover period. Notably, buyers did not even allow price to reach that VWAP level before stepping in. That behavior often signals urgency from buyers, not weakness.Another subtle but important detail was the formation of a higher low. The most recent low was slightly higher than the previous one, and neither touched VWAP. This tells us buyers were willing to defend price earlier and earlier, a classic sign of underlying strength.These are the kinds of details that separate reactive trading from informed decision-making.Why Many Traders Misread the Gap DownFrom a purely visual perspective, a 50-plus point drop from Friday’s close looks bearish. On higher timeframes, it can feel dramatic and intimidating.That is why many traders rushed to short the market early.However, without understanding where price is relative to key references, those trades lack context. A gap down does not automatically mean continuation lower. What matters is how price reacts at known junctions.In this case, the market showed clear signs of buyer defense well before the gap was filled. That alone should have made traders cautious about pressing shorts.Waiting for confirmation does not mean missing opportunity. Often, it means avoiding bad trades.Practical Takeaway for TradersWhen the market gaps down and then begins grinding higher:Watch how price behaves near the previous trading day closeBe cautious with shorts as the gap approaches completionUnderstand that liquidity often sits just above obvious reference levelsLet the market finish its business before looking for the next setupThis does not mean the market cannot turn lower afterward. It simply means that timing matters, and probability shifts as price approaches key levels.Good trading is not about prediction. It is about recognizing when risk-reward is no longer in your favor.Please note, S&P 500 TradersWhat looked like a frightening start to the week turned into a valuable technical lesson. Buyers defended key structure, the gap began to close, and traders who stayed patient avoided unnecessary losses.This type of behavior repeats across markets and instruments. Understanding it can save capital and improve decision-making over time.For more market perspectives, educational insights, and trade discussions, visit investingLive.com, check out our YouTube channel, and join the investingLive Stocks Telegram channel, which is free.Stay disciplined, stay patient, and have a strong trading week ahead. This article was written by Itai Levitan at investinglive.com.

FUNDAMENTAL OVERVIEWUSD:The US Dollar sold off across the board on Friday following rumours of the NY Fed conducting rate ​checks on the USD/JPY pair. The market took that as a signal of a potential intervention to strengthen the Japanese Yen and the unwinding of positions weighed on the greenback. This wasn’t a fundamental-driven move but a “technical” one. In general, such reactions are eventually faded in the following days. The problem for the dollar is that there’s no strong reason for it to appreciate yet. This week, we have the FOMC decision on Wednesday where the central bank is expected to keep interest rates unchanged and maintain a data-dependent approach for the next rate cuts. There shouldn’t be any surprise at this meeting. February might be key for the US Dollar as we get another set of economic data, with the NFP report likely being pivotal for the market pricing. In fact, we’ve been seeing notable improvements in the US Jobless Claims data that could point to a re-acceleration in the labour market. The market is still pricing 48 bps of easing by year-end. Those bets are likely to be pared back in case the data strengthens and should provide support for the greenback.EUR:On the EUR side, Trump scrapped his tariffs threat after he reached a “framework” of a deal for Greenland in Davos, so that growth risk got priced out. In terms of monetary policy, the ECB remains in a neutral stance reaffirming its data-dependent and meeting-by-meeting approach to policy decisions. ECB members continue to repeat that the current policy is appropriate, and they won’t respond to small or short-term deviations from their 2% target. The data has been supporting the central bank’s neutral stance, with inflation data recently surprising to the downside and PMIs showing a bit of a slowdown. EURUSD TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that EURUSD rallied hard last week and almost reached the cycle high around the 1.1918 level. This is where we can expect the sellers to step in with a defined risk above the cycle high to position for a drop into the 1.14 handle. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into the 1.23 handle next.EURUSD TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we can see more that we have an upward trendline defining the bullish momentum on this timeframe. From a risk management perspective, the buyers will have a better risk to reward setup around the trendline to position for a rally into new highs. The sellers, on the other hand, will look for a break lower to increase the bearish bets into the 1.14 handle next.EURUSD TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, we can see that we have the gap acting as support. The buyers will likely step in here with a defined risk below the gap to keep pushing into new highs, while the sellers will look for a break lower to extend the pullback into the trendline. The red line define the average daily range for today. UPCOMING CATALYSTSTomorrow we have the weekly US ADP jobs data and the US Consumer Confidence report. On Wednesday, we have the FOMC policy announcement. On Thursday, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the US PPI report. This article was written by Giuseppe Dellamotta at investinglive.com.

With all else that is going on in the world, it's easy to forget that China and Japan are still in the midst of a political spat since the latter stages of last year. As a reminder, all of this came about after Japan prime minister Takaichi took office. And she was quoted in saying that a Chinese attack on Taiwan could constitute an "existential crisis" for Japan, in which they be allowed to take military action for self-defense.Naturally, that didn't go down well with Beijing - not least with Tokyo trying to meddle with the affairs in Taiwan. This has resulted in China hitting back at Japan by asking citizens not to travel to Japan and also afterwards leading to stricter export controls of dual-use items and rare earth minerals.The former looks to be continuing with the media outlet above reporting that Chinese airlines are extending free cancellations for flights to Japan up until 24 October. All this as part of Beijing's push to not want to support the Japanese economy as the diplomatic row continues.As for the latter i.e. rare earth minerals ban, this isn't the first involving China and Japan. As a reminder, the two also fought over the long-contested Senkaku Islands dispute over a decade ago and that resulted in Beijing undertaking an undeclared ban on rare earth exports to Japan.In response, Tokyo sought to diversify their reliance on Chinese rare earth minerals and made a deal with Australia after. And that in turn resulted in the Lynas project that is stationed in Malaysia. The rare earth minerals processing plant there is the largest outside of China, which has made it an attractive and strategic point of interest that even saw US president Trump step in last year. This article was written by Justin Low at investinglive.com.

EUROPEAN SESSIONIn the European session, the only highlight will be the German IFO index. It's expected to tick higher to 88.2 vs 87.6 prior, which would mirror the improvements seen with the German ZEW index and the German PMIs. The data is not going to change anything for the ECB though, so the market reaction will likely be muted.AMERICAN SESSIONIn the American session, we don't have much on the agenda other than a couple of low tier releases like the US durable goods orders and the Dallas Fed manufacturing PMI. The durable goods data is rarely a market-moving report because it's very volatile. This time it's also very old because it's November's data. The Dallas Fed is also rarely market-moving as the market focuses on the S&P Global and ISM PMIs. CENTRAL BANK SPEAKERS11:00 GMT/06:00 ET - ECB's Nagel (neutral - voter)13:30 GMT/08:30 ET - ECB's Nagel (neutral - voter)15:00 GMT/10:00 ET - ECB's Kocher (neutral - voter)17:00 GMT/12:00 ET - ECB's Kocher (neutral - voter) This article was written by Giuseppe Dellamotta at investinglive.com.

There aren't any major expiries to take note of on the day, with the full list seen below.Trading sentiment continues to revolve around the same factors from Friday last week. The Japanese yen is in its own world, with traders needing to deal with intervention risks bordering on the extreme now. That especially after the suspected 'rate check' from Tokyo at the end of last week.As a reminder, previous episodes in July 2024 and September 2022 did result in actual intervention after. So, there's certainly an element of danger and USD/JPY longs are in a race to the exits now in trying to cover their positions.For other dollar pairs, it's a rather straightforward driver with it being the greenback itself. The dollar is struggling across the board as the debasement trade continues to run alongside the continued de-dollarisation narrative in general. The erratic and uncertain US administrative policies to start the year all but serves as a reminder to that.And as such, that's sending the precious metals trade into overdrive as well. Today, we're seeing gold soar above $5,000 quite comfortably and silver also cruising past the $100 mark without any hesitation or profit-taking. Just be wary though that these moves are really running parabolic and while I am an advocate for precious metals, to imagine this kind of start to the year is really something else. Absolutely bewildering.So, that leaves us to where we are now to start the new week. But later on in the coming sessions, just be wary of month-end flows as well with this being the final trading week of January.For more information on how to use this data, you may refer to this post here.Head on over to investingLive (formerly ForexLive) to get in on the know! This article was written by Justin Low at investinglive.com.

It's a nervous start to the week in the equities space as risk trades are reserving some caution amid the madness elsewhere. The Japanese yen is a key focus point with intervention risks on the extreme while precious metals continue to fly as the parabolic move continues. All of this with the dollar continuing to be bashed across the board as well.What a truly wild first month of 2026 this has been.Amid the chaotic start to this week as well, stock futures down with Asian indices also keeping lower as we approach the closing stages. Geopolitical tensions remain in the picture as well but at least for now, we're not seeing much escalation.S&P 500 futures are down 0.2% but that's a stark improvement after having opened with a gap down of nearly 1%. Nasdaq futures are down 0.3% while Dow futures are also down 0.2%, reaffirming the slightly softer sentiment for now.While other market happenings, geopolitical issues, and also the Fed will factor into the equation this week, perhaps the most important thing on the agenda for Wall Street will be key earnings releases. And this week, we'll get four of the Magnificent 7 reporting. So, that's quite the blockbuster list of companies reporting right there.On Wednesday, we'll get Microsoft, Meta, and Tesla all after the close. And on Thursday, Apple will be the one reporting after the close.Big tech aside, there are also other notable names reporting this week with it being the second busiest week in terms of the Q4 earnings schedule. The likes of Boeing, UnitedHealth, ASML, Visa, Mastercard, and Exxon Mobil are all also set to report.And don't forget, there's also month-end flows to factor into the picture with it being the final trading week of January. So, strap yourselves in. It's going to be quite the ride for markets this week. This article was written by Justin Low at investinglive.com.

The first supposed 'rate check' took place in European trading on Friday and then there was another late on in US trading. Although on the latter, the dollar was already crumbling across the board so USD/JPY traders also took that as a sign to abandon long positions. The nerves are continuing to Asia trading today with the pair opening with a sharp gap lower of roughly 100 pips.The selling has continued since the open, with the pair now down 1% to near 154.00. That's the lowest level since mid-November last year with the 100-day moving average nearby now at 153.55. For some context, the pair hasn't tested any of its key daily moving averages since September last year. That reflects on the Takaichi trade for the most part, after she officially won the prime minister race in October.After the 'rate check' on Friday, markets know very well that actual intervention is on the cards next. That was the case back in September 2022 and July 2024. So, that's likely causing those piling on yen shorts to rush for the exits.Adding to the positive news for the yen today is Japan prime minister Takaichi seeing a drop in approval ratings ahead of the snap election.Her administration's public approval rating in a survey via the Nikkei newspaper dropped to 67% from 75% in December. And that's the first time the figure dipped below 70% since she took over as prime minister in October.Meanwhile, a separate poll by Kyodo news showed her approval rating declining to 63% from 68%. And another one from the Mainichi newspaper showed a drop to 57% from 67% before.As a reminder, Takaichi's goal in calling for the snap election is to consolidate power. But evidently, her economic and fiscal plans are being met with heavy and growing skepticism it would seem. Fears continue to grow over her proposed stimulus package, with worries that it won't be enough to address the cost of living crisis among Japanese households.Then, there's also market concerns that the additional debt that the government will be taking on will break the bond market - more so than it already has.So, that's setting the stage for how things are going to play out this week with traders surely expecting possible action if USD/JPY continues to keep on the higher side. As a reminder, the pair is still up ~650 pips following the gap higher in the early stages of October last year. This article was written by Justin Low at investinglive.com.

USD/JPY falls to a fresh low as official sees a "high sense of urgency"Australia is closed today for Australia Day but AUD hits the highest in 15 monthsGold blasts through $5000 to all time high. What to look for nextChinese President Xi Jinping launched the largest military purge in yearsJapan PM Takaichi Sunday yen verbal intervention. Follows USD/JPY Friday rate check slam.Markets:Gold up $89 to $5071Silver up 4.6% to $107.70WTI crude up 12-cents to $61.19S&P 500 futures down 20 pointsJapan 10-year yields down 1.4 bpsJPY leads, USD lagsIt was a dramatic start to the trading week as USD/JPY fell nearly 200 pips and broke through 154.00. Note that the pair was above 159 on Friday before the dramatic reversal on various reports/rumors of a rate check. That was followed up today and on the weekend by more signs of verbal intervention as Takaichi ahead of the Feb 8 election.What further weighed on the US dollar was that the odds of a US government shutdown rose after a tragic weekend in Minnesota. That's something of a wild card but it underscores the divisions in US politics that are certainly adding some angst. A big beneficiary of that is the precious metals complex as gold broke through $5000 for the first time and promptly added nearly $100 more. Silver also cruised through $100 to as high as $109.77 before some minor profit taking.Adding to the sense of unease was a major military purge by China's Xi on the weekend, including the top uniformed military official and a member of the Politburo. So far that hasn't hit Chinese stock markets but it's a sign of a tumultuous world.Australian was on holiday but that didn't stop AUD/USD from rising to a fresh 15 month high.US equity futures opened sharply lower but halved the decline in fairly short order and are now trading down just 0.3%. Eyes will be on a heavy slate of earnings this week. This article was written by Adam Button at investinglive.com.

The S&P 500 is off to a flyer this year, but beneath the surface of the headline index, a handful of names are absolutely ripping. While the broader market debates the "soft landing" versus "no landing" scenarios, these 25 stocks have already cleared the +20% hurdle less than a month into the year.The clear standout is Sandisk ($SNDK), which has nearly doubled in value (+99.6%) following a massive re-rating in the storage and memory space. It's not alone; the semiconductor and equipment trade is dominating the leaderboards, with Micron (+40%), Western Digital (+37.2%), and Lam Research (+27.3%) all riding the wave of high-performance computing demand.Here is a look at the top performers so far this year:Intel was near the top of this list until Friday's nearly 20% decline. That's a demonstration of the risk of wading into some of these volatile stocks.More importantly, what does the return of those stocks tell us about how they will do the rest of the way? Here is a look at some of the top performers in January 2025?As we've seen many times in markets, winners tend to keep on winning. That said, the top performer in 2024 in January was Super Micro (SMCI) with an 89% gain but over the remainder of the year, it gave much of it back. Nvidia though gained 24% and went into gain 171%.What you're looking for here are lasting themes and the question is whether you like the memory supply cruch? Higher US defense spending? Moderna making an MRNA breakthrough including with a better seasonal flu vaccine? Oil services? Gold? Lithium? Electricity?To me, many of those themes sound tired, but you could say the same about Nvidia and AI in early 2024.For reference, the 2025 winners and how they later did: This article was written by Adam Button at investinglive.com.