🌅 Morning Update | 12 January 2026

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📈 Asian stock markets opened the week on a positive note. Hong Kong’s Hang Seng, China’s Shanghai Composite and Australia’s ASX 200 moved higher, supported by improved sentiment after Chinese trade data and the PBOC’s daily fixing. Japanese markets remain closed today due to a bank holiday.

📉 US stock futures are under pressure as investors shift into defensive mode. Rising concerns over the independence of the Federal Reserve, combined with anticipation of upcoming US CPI data and the start of earnings season, are weighing on risk appetite. Weakness is also spreading to European futures.

🇺🇸 Political pressure on the Federal Reserve intensified after Fed Chair Jerome Powell confirmed he had received subpoenas from the Department of Justice. The investigation focuses on the costly renovation of the Fed’s headquarters and has reignited debate over political interference in US monetary policy. Institutional uncertainty increased further after Senator Thom Tillis announced he would block new Fed nominations until the probe is completed.

💵 The US dollar weakened sharply on the back of these developments. Investors moved into traditional safe havens, boosting gold and silver prices and strengthening the Swiss franc. Precious metals are among the strongest performers this morning, with silver leading the gains amid rising volatility.

🇨🇳 In China, the PBOC set the USD/CNY fixing weaker than expected, signalling efforts to limit yuan appreciation in the face of sluggish growth and deflationary pressures.

🛢️ Brent crude oil extended gains as geopolitical risks increased. Rising tensions around Iran are fuelling concerns over potential supply disruptions, supporting oil prices despite broader risk aversion.

₿ Sentiment in the crypto market remains positive. Bitcoin is trading higher intraday near $92,000, while Ethereum is also posting solid gains as investors continue to diversify amid global uncertainty.

🔔 Markets remain highly sensitive to political risk, macro data and central bank developments. Stay alert and trade wisely with NordFX.

🌅 Morning Update | 12 January 2026


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