ECB Governing Council member Villeroy: Our interest rate cuts are not driven by time, but by data.

The ZEW economic conditions index for the Eurozone in January was -59.3, compared with the previous value of -62.7.

The Australian dollar AUD/USD fell back below 0.66, down 0.89% on the day.

German think tank ZEW: Rising inflation in Germany and the euro zone in December had no impact on survey respondents’ monetary policy expectations.

German think tank ZEW: U.S. interest rate expectations have changed more significantly, with more than two-thirds of respondents predicting that the Federal Reserve will cut interest rates in the next six months.

German think tank ZEW: This is because more than half of the respondents now believe that the European Central Bank will cut interest rates in the first half of the year.

German think tank ZEW: German economic expectations are improving again.

CEO of the Caspian Oil Pipeline Consortium: The Caspian Oil Pipeline is now loading oil.

Official sources said that Polish President Duda may meet with Ukrainian President Zelensky in Davos.

Spot palladium fell 2.00% on the day and is now at $952.01 per ounce.

According to Japan Broadcasting Association NHK: An earthquake occurred in Ishikawa Prefecture, Japan, with a weak magnitude of 5 in Japan. No tsunami warning was issued after the earthquake.

Japan Meteorological Agency: An earthquake occurred in the Noto Sea area of Japan at 18:42:12 Japan time.

CEO of the Caspian Oil Pipeline Consortium: The Caspian Oil Pipeline is scheduled to undergo 72-hour maintenance in April and September 2024.

Jordanian Foreign Minister: Israel has erected “significant obstacles” to providing adequate humanitarian aid to Palestinians in Gaza.

The British Insolvency Service: The corporate bankruptcy rate in England and Wales increased by 2% year-on-year in December, and personal bankruptcy cases fell by 20% year-on-year.

UBS raised its 2024 S&P 500 target from 4,850 to 5,150.

Spot silver fell back below $23 per ounce, down 0.84% on the day.

Citi Research: The production freeze is expected to affect production by approximately 97 billion to 11.1 billion cubic feet, with a midpoint of approximately 10.4 billion cubic feet.

Citi Research: Unless the production freeze is worse than expected, Henry Hub natural gas prices may have peaked and a more severe cold is possible in February.