{"id":3661,"date":"2026-01-23T15:25:50","date_gmt":"2026-01-23T04:25:50","guid":{"rendered":"https:\/\/www.amillex.com\/?p=3661"},"modified":"2026-01-23T15:25:51","modified_gmt":"2026-01-23T04:25:51","slug":"amillex-daily-market-commentary-weaker-usd-lifts-gold-to-new-highs-as-rate-cut-expectations-fuel-bullish-sentiment","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/es\/2026\/01\/23\/amillex-daily-market-commentary-weaker-usd-lifts-gold-to-new-highs-as-rate-cut-expectations-fuel-bullish-sentiment\/","title":{"rendered":"Amillex Daily Market Commentary | Weaker USD Lifts Gold to New Highs as Rate-Cut Expectations Fuel Bullish Sentiment"},"content":{"rendered":"<p class=\"has-black-color has-text-color has-link-color wp-elements-1 wp-block-paragraph\" style=\"font-size:18px\"><strong>Jan 23, 2026 \u2014<\/strong>&nbsp;Spot gold extended its powerful rally, holding firmly above the $4,900 psychological level and briefly touching a record high of $4,960.43\/oz during early Asian trading. The move was&nbsp;mainly driven&nbsp;by continued weakness in the U.S. dollar, with the Dollar Index sliding 0.5% to 98.28, near a three-week low. Although the latest PCE Price Index showed inflation ticking up to 2.8% y\/y, signaling some underlying economic resilience, it did little to dent expectations for future policy easing. Markets continue to price in a cautious Fed stance in the near term, followed by two rate cuts totaling 50 basis points in the second half of 2026. This outlook reduces the opportunity cost of holding gold, reinforcing its&nbsp;appeal&nbsp;and keeping bullish momentum intact.&nbsp;<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-text-align-center has-black-color has-text-color has-link-color wp-elements-2 wp-block-paragraph\" style=\"font-size:20px\"><strong>Asset Performance and Fundamental Analysis<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-3 wp-block-paragraph\" style=\"font-size:18px\"><strong>1. U.S. Equity Markets<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-4 wp-block-paragraph\" style=\"font-size:18px\"><strong>Index Performance<\/strong>&nbsp;<\/p>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-5\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-6\" style=\"font-size:18px\"><strong>Dow Jones Industrial Average:\u00a0<\/strong>49,384.01\u00a0(+0.63%).\u00a0Supported by signals of easing geopolitical tensions from the Davos Forum\u2014particularly the fading of tariff threats related to Greenland\u2014the Dow posted a second consecutive gain, holding firmly above the\u00a049,000\u00a0level.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-7\" style=\"font-size:18px\"><strong>S&amp;P 500:\u00a0<\/strong>6,913.35\u00a0(+0.55%).\u00a0Optimism ahead of the FOMC meeting helped the index rebound modestly after earlier safe-haven flows eased.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-8\" style=\"font-size:18px\"><strong>Nasdaq Composite:\u00a0<\/strong>25,436.02\u00a0(+0.91%).\u00a0Technology stocks\u00a0led\u00a0gains, with the AI sector regaining momentum amid strong discussion at the Davos Forum, triggering notable\u00a0short-covering.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-9 wp-block-paragraph\" style=\"font-size:18px\"><strong>Stock&nbsp;Highlight<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-10\" style=\"font-size:18px\"><strong>Tesla (TSLA):\u00a0$449.36<\/strong>\u00a0(+4.15%).\u00a0Following\u00a0a\u00a01.63%\u00a0gain in the\u00a0previous\u00a0session, Tesla extended its rally and broke above the key\u00a0$440 resistance\u00a0level.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-11 wp-block-paragraph\" style=\"font-size:18px\"><strong>2. Foreign Exchange Market<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-12\" style=\"font-size:18px\"><strong>U.S. Dollar Index (DXY):\u00a0<\/strong>98.30\u00a0(-0.41%)\u00a0Easing geopolitical tensions reduced safe-haven demand, driving the dollar steadily lower from recent highs.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-13\" style=\"font-size:18px\"><strong>EUR\/USD:\u00a0<\/strong>1.1750\u00a0(+0.56%)\u00a0Benefiting from marginal improvement in U.S.\u2013EU trade risk sentiment, the euro staged a sharp rebound after hitting multi-month lows.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-14\" style=\"font-size:18px\"><strong>USD\/JPY:\u00a0<\/strong>158.40.\u00a0As risk\u00a0appetite\u00a0improved, demand for the safe-haven yen weakened. The pair continues to\u00a0consolidate\u00a0near\u00a0the\u00a0158\u00a0level, awaiting further\u00a0central-bank\u00a0guidance.\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-15 wp-block-paragraph\" style=\"font-size:18px\"><strong>3. Precious Metals and Commodities<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-16 wp-block-paragraph\" style=\"font-size:18px\"><strong>Metales preciosos<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-17\" style=\"font-size:18px\"><strong>Spot Gold (XAUUSD):\u00a0<\/strong>Around\u00a0$4,950\/oz\u00a0(+1.61%).\u00a0Positive developments from the Davos Forum prompted a rational adjustment in safe-haven premiums.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-18\" style=\"font-size:18px\"><strong>Spot Silver (XAGUSD):\u00a0<\/strong>Around\u00a0$95.82\u00a0(+3.44%).\u00a0Despite a temporary easing in geopolitical tensions, silver showed no signs of weakness and once again pushed above the\u00a0<strong>$95<\/strong>\u00a0historical high.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-19 wp-block-paragraph\" style=\"font-size:18px\"><strong>Commodities<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-20\" style=\"font-size:18px\"><strong>WTI Crude Oil:\u00a0<\/strong>Around\u00a0<strong>$59.70\/barrel<\/strong>\u00a0(-2.14%).\u00a0Geopolitical risk premiums retreated sharply.\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-21 wp-block-paragraph\" style=\"font-size:18px\">4<strong>. Crypto Assets and Macro Dynamics<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-22\" style=\"font-size:18px\"><strong>Bitcoin (BTC):\u00a0<\/strong>Around\u00a0$89,521, slipping slightly below the\u00a0$90,000\u00a0psychological level.\u00a0<br>While some short-term capital rotated into rebounding equities, BTC continues to show solid technical support near\u00a0$88,000.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-23\" style=\"font-size:18px\"><strong>Ethereum (ETH):\u00a0<\/strong>Locked in a tug-of-war around the $3,000 pivot.\u00a0ETH\u00a0remains\u00a0range-bound between $2,980\u2013$3,050, pressured by ongoing debate over recent on-chain activity levels.\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-24 wp-block-paragraph\" style=\"font-size:18px\"><strong>5.&nbsp;Today\u2019s Focus<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-25\" style=\"font-size:18px\">World Economic Forum Annual Meeting (Day 5)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-26\" style=\"font-size:18px\">UK December Retail Sales m\/m\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-27\" style=\"font-size:18px\">France January Manufacturing PMI (Preliminary)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-28\" style=\"font-size:18px\">France January Services PMI (Preliminary)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-29\" style=\"font-size:18px\">Germany January Manufacturing PMI (Preliminary)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-30\" style=\"font-size:18px\">Germany January Services PMI (Preliminary)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-31\" style=\"font-size:18px\">UK January Manufacturing PMI (Preliminary)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-32\" style=\"font-size:18px\">UK January Services PMI (Preliminary)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-33\" style=\"font-size:18px\">Canada December Core Retail Sales m\/m\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-34\" style=\"font-size:18px\">Canada December Retail Sales m\/m\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-35\" style=\"font-size:18px\">U.S. January Manufacturing PMI (Preliminary)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-36\" style=\"font-size:18px\">U.S. January Services PMI (Preliminary)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-37\" style=\"font-size:18px\">U.S. January University of Michigan Consumer Sentiment (Final)\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Jan 23, 2026 \u2014&nbsp;Spot gold extended its powerful rally, holding firmly above the $4,900 psychological level and briefly touching a record high of $4,960.43\/oz during early Asian trading. The move was&nbsp;mainly driven&nbsp;by continued weakness in the U.S. dollar, with the Dollar Index sliding 0.5% to 98.28, near a three-week low. Although the latest PCE Price [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":3663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[8],"tags":[],"class_list":["post-3661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news","entry","has-media"],"_links":{"self":[{"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/posts\/3661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/comments?post=3661"}],"version-history":[{"count":1,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/posts\/3661\/revisions"}],"predecessor-version":[{"id":3662,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/posts\/3661\/revisions\/3662"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/media\/3663"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/media?parent=3661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/categories?post=3661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/tags?post=3661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}