Below is a visual representation of the movements seen in the currency market over the past few hours.

of us dollar indexwhich is the dollar against a basket of currencies. I went diving:

the result, australian dollar Raise your other leg and It soared above USD 70, its highest level since early 2023.:

The President of the United States at the time of the move was donald trump He was talking to reporters.

Asked whether the value of the U.S. dollar had fallen too much, he reportedly said, “It’s going very well.” Reuters.

“I think the value of the dollar is great,” the US president said.

Of course, the Trump administration, preoccupied with the U.S. trade deficit, will know that a weaker dollar means American products can be bought cheaper overseas.

Want to learn more about what’s driving up the prices of gold and silver and why the US dollar has fallen so much lately?

If so, I definitely recommend Alan Kohler’s financial report that appeared in last night’s 7pm news bulletin.

A great way to quickly find out what’s going on just over an hour before the Australian stock market opens.

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Wall Street has closed and things are mixed.

of S&500 pesos It rose 0.4% to close at 6,976 points. New record high For the US benchmark index.

Those gains were made by some in America.Magnificent Seven“Tech stocks that are investing heavily in artificial intelligence (AI) — including.” Nvidia (+1.1%), apple (+1.1%), microsoft (+2.2%) and Amazon (+2.2%).

It’s earnings season in the US, and big tech companies are expected to report impressive quarterly profits.

Meta, Microsoft and Tesla are scheduled to release their results on Thursday morning (Australian time).

Apple is expected to announce the results on Friday (Australian time).

on the other hand, Nasdaq Composite It rose 0.9% to 23,817 points.

of Dow Jones Industrial AverageHowever, it fell by 0.8% to 49,003 points.

With a decrease of 1.6%, Boeing’s Stock prices, Dow Mr. Jones was also weighed down by the roughly 20% plunge in stock prices. united health stock.

The health insurance giant expects its revenue to shrink this year.

The Trump administration’s lower-than-expected 2027 Medicare reimbursement plan is partly to blame.

This development led to declines in stocks of other insurance companies such as CVS (-14.2%) and Humana (21.1%).

It’s been a very strong day for gold and the Australian dollar, but the ASX should also do reasonably well today.

ASX futures are pointing to a 0.4% rise when local stock markets open in about two hours.

That’s certainly to be expected, considering the price of gold soared more than 3% overnight to a new record high. gold miner It’s probably one of the best performing stocks today.

silver surge

Meanwhile, spot silver jumped to 8% $112 per ounce.

Its value has skyrocketed over the past year. Maybe it’s not complete.”gold’s poor cousin” already.

That’s crazy considering the price of silver was high $30 exactly one year ago 1 oz. So it’s almost quadrupled since then.

Fundamentally, silver is rising due to a lack of supply and increased industrial and investor demand.

The trend was also given a big boost last year when the U.S. government added silver to the list of what it considers “critical minerals.”

Speaking of which, gold prices also set a new record by exceeding $5,100 for the first time in history.

To be precise, it trades as follows: $5,181 per troy ounce after rising 3.3% this morning.

If you want to pay in Australian dollars, $7,396 It’s only 31 grams of yellow metal.

Gold is already up about 20% since the beginning of the year (and it’s not even February yet).

Fundamentally, stock prices are rising due to heightened geopolitical and economic uncertainty and expectations that the Federal Reserve will cut interest rates this year.

The trend toward de-dollarization is also having an impact. Essentially, central banks around the world are stockpiling precious metals to reduce their dependence on US dollar reserves.

Poland, China, Azerbaijan and Kazakhstan have been the biggest buyers of gold over the past few years.

Hello and welcome to ABC’s Finance Blog! I will be your guide for the next few hours.

The first thing I noticed was that australian dollar this morning. Its value increased by 1.3% 70.1 US cents.

It is mainly USD President Donald Trump’s erratic policy decisions and concerns about the independence of the Federal Reserve have made investors so nervous about the U.S. economy that it fell overnight to a four-year low.

The last time the Australian dollar was this strong was in mid-February 2023 (or almost three years ago). This is a great opportunity for those who want to try online shopping from overseas!

Now, whether to maintain this level or not depends on the latest state of ABS inflation The figures will go on sale at 11:30am AEDT.

economists hope consumer prices rose to 0.7% December quarter (this makes the annual increase 3.5%).

If the actual inflation outcome is better (i.e., inflation is lower than expected); reserve bank It is likely that interest rates will be left unchanged at the board meeting on February 3-4.

The market is currently pricing in a 60% chance of a rate hike next week, and that probability increases as the month progresses.

Anyway, sit down and have a cup of coffee or tea. We will bring you more updates soon.