Forex Today: US Dollar consolidates weekly gains amid a cautious mood
Here’s the key information for Friday, January 19:
The risk-on sentiment that dominated Wall Street due to the tech rally failed to extend into Asian trading on Friday. Geopolitical tensions in the Middle East intensified, and persistent concerns about the Chinese economy added to the cautious market mood. Despite this, the US Dollar experienced a decline as investors assessed the Federal Reserve’s outlook on potential rate cuts.
Reports emerged earlier today indicating that Houthi terrorists, backed by Iran, launched two anti-ship ballistic missiles at the M/V Chem Ranger, a tanker ship with a Marshall Islands flag that is owned by the US and operated by a Greek company. This development occurred after the United States launched new strikes against Houthi anti-ship missiles in the Red Sea on Thursday.