BNP Paribas economists Anis Bensaidani and Pascal Devaux warn that US electricity inflation, driven partly by AI-related data centers and structural constraints, is set to remain elevated into 2026.

EUR/GBP trades around 0.8715 on Tuesday at the time of writing, up 0.15% on the day. The cross draws moderate support from the Euro (EUR), although the single currency’s momentum remains broadly contained by the latest signals from the European Central Bank (ECB).

Societe Generale analysts note that stronger‑than‑expected Norwegian inflation is supporting the Norwegian Krone and questioning expectations for further Norges Bank easing.

Gold (XAU/USD) struggles for direction on Tuesday, with overall trading activity subdued in the absence of fresh market-moving catalysts. At the time of writing, XAU/USD trades around $5,035, holding firm after briefly slipping below the $5,000 psychological level during the early Asian session.

Nordea’s Helge J. Pedersen notes that Danish inflation dropped sharply to 0.8% year-on-year in January, largely due to the government’s cut in electricity tax to the EU minimum. Core inflation also eased, and goods prices are now lower than a year ago.

Danske Bank economists Sofie Grundvad Pedersen and Rune Thyge Johansen note that Euro area GDP grew 0.3% q/q in Q4 2025, slightly above ECB projections, driven by Germany, Spain and Italy.

The Pound Sterling (GBP) consolidates below 1.3700, edges down 0.2% during the North American session on Tuesday as the Greenback pares some of its earlier losses after the release of worse-than-expected US data. GBP/USD trades at 1.3660 after hitting a daily high of 1.3700.

Silver (XAG/USD) trades with a negative bias on Tuesday, as mild profit-taking emerges after the metal surged more than 8% on Monday.

US Treasury Secretary Howard Lutnick hit the newswires with an array of policy, trade, and economic outlook soundbites on Tuesday.

The daily chart for spot Gold shows a broad uptrend that is holding above both the 50-day Exponential Moving Average (EMA) at 4,637 and the 200-day EMA at 3,954, confirming the longer-term bullish structure.

United States (US) Treasury Secretary Scott Bessent said that they can have a very productive relationship with China, adding that the competition keeps you from stagnating. At a hearing on Capitol Hill on Tuesday, he added that the Trump administration sees a good partnership with Venezuela.

The daily chart for USD/CAD shows a decisive bearish trend, with price trading well below both the 50-day Exponential Moving Average (EMA) at 1.3757 and the 200-day EMA at 1.3854, confirming sustained downside pressure.

The Dow Jones Industrial Average (DJIA) extended its record streak on Tuesday, touching a fresh all-time intraday high of 50,509.22 before settling at 50,259.81, up 123.57 points or 0.25%.

Commerzbank’s Thu Lan Nguyen warns that unusually low gas storage levels in Germany and across the EU, combined with higher consumption and a flatter forward curve, raise the risk of price spikes and potential consumption restrictions.

(This story was corrected on February 10 at 16:34 GMT to reflect that the 4-week average of the US ADP Employment Change didn't decline compared to the previous week. It rose to 6.5K, up from the 5K reported one week ago. The corrected version follows.)

Federal Reserve (Fed) Bank of Cleveland President Beth Hammack said that the Fed is in a good position with its policy to see how things develop. She also added that the Fed rate policy could be on “hold” for some time, in a speech prepared for an event in Columbus, Ohio, on Tuesday.

DBS Group Research economist Eugene Leow notes that US Treasuries have been resilient despite headlines on China reducing US government debt exposure and higher Japanese government bond yields.

The US Dollar is continuing its slide against the Swiss Franc, with the daily chart showing a well-defined downtrend of lower highs and lower lows since the late November 2025 peak near 0.8102.

USD/JPY trades around 154.40 on Tuesday at the time of writing, down 0.95% on the day.

AUD/USD ticks lower on Tuesday, pausing a two-day winning run as weak domestic consumer sentiment data weighs on the Australian Dollar (AUD). The pair, however, struggles to attract fresh sellers with a broadly softer US Dollar limiting downside pressure.