Singapore’s retail sales experienced a month-on-month increase of 2.4% in January, a notable recovery from the previous decline of -1.5%. This data suggests a positive shift in consumer spending behaviour.
In the foreign exchange market, the EUR/USD pair climbed toward 1.0650, benefiting from the US Dollar’s downward trend. The market’s focus remained on forthcoming US economic data.
Gbp Usd And Gold Prices
The GBP/USD pair saw modest gains, trading close to 1.2790 amid concerns over US economic growth. Gold prices held above $2,900, with market participants anticipating new information regarding US tariffs and employment data.
In cryptocurrencies, Bitcoin stabilised around $87,600, with Ethereum and Ripple showing signs of recovery. The US has implemented various tariffs, including 25% on Canada and Mexico, alongside a 10% tariff on China.
Singapore’s retail figures point towards stronger consumer activity, reversing the previous month’s dip. This momentum could indicate improving sentiment and economic resilience. If the trend persists, it may influence expectations for broader economic growth.
In currency markets, the Euro gained against the US Dollar, nearing 1.0650. With the Dollar facing downward pressure, attention remains on forthcoming US economic data. Any unexpected readings could alter near-term moves, particularly if inflation or labour market figures diverge from forecasts.
Sterling edged higher, hovering near 1.2790. Persistent concerns around US economic expansion appear to have weighed on the Dollar, supporting the Pound’s movement. While the gains were contained, market participants will closely monitor upcoming Bank of England comments and UK economic releases.
Bitcoin And Tariff Developments
Gold prices have remained firm above $2,900, reflecting sustained investor interest. Markets are awaiting new details on US trade policy, particularly regarding tariffs, alongside employment data. Any shifts in policy or labour market strength could moderate or extend gold’s performance.
Bitcoin steadied at approximately $87,600, with Ethereum and Ripple also demonstrating recovery signs. Traders have kept a close watch on tariff measures, which now apply at different rates, including 25% on Canada and Mexico and 10% on China. These developments could feed into broader economic and market expectations, setting the stage for further movement in commodities and risk assets.
