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Republic Research / ARTICLE

Top 10 Things Traders Need to Watch Today TACO Trade in Full Effect – Trump cancelled tariffs on eight European countries after the Davos speech. The "Tariffs Are Cancelled, Obviously" rally is lifting everything. Question now is whether this holds or if we get another headline reversal. Greenland Deal Details Emerging – NATO's Rutte says no transfer of sovereignty. Reports suggest "small pockets of land" similar to the UK-Cyprus arrangement and that it's still fluid. German Finance Minister says don't get hopes up too soon. More meetings today could shift sentiment either way. JGBs Finally Stabilizing – Nikkei up nearly 2%, snapping a five-day losing streak. Japanese bonds finding a floor after this week's carnage. The carry trade unwind pressure is easing for now, but watch if this holds. Fed Chair Announcement Imminent – Trump says he has "two or three left in mind." Polymarket has Warsh at 44%, Rieder at 31%, Waller at 14%. Announcement could come any day. A hawkish pick would shift rate expectations fast. PBoC Signals More Easing – Governor Pan says China has room to cut RRR and interest rates this year. Pledged "flexible use of tools." Also strengthening supervision of gold market, which briefly pressured XAU. Gold Pulling Back But Goldman Raises Target – Spot gold at $4,822 after touching $4,772 overnight. Risk premium coming out. But Goldman just raised year-end target to $5,400 (from $4,900). Dips may be buying opportunities. Crude Sliding on Risk Premium Unwind – WTI back to $60, Brent at $64.57. Private inventory data showed bigger crude build than expected (+3.0M vs +1.8M exp). Gasoline build was massive (+6.2M vs +2.5M exp). Big Earnings Day – Intel, Procter & Gamble, Freeport McMoRan, GE Aerospace, and Abbott all reporting. Intel especially worth watching given the semiconductor sector pressure this week. Trump-Zelensky Meeting at 12:00 GMT – US envoy Witkoff says "a lot of progress" on Ukraine, "getting to the end." Proposed tariff-free zone being discussed. Any headline here moves European defense names and broader risk. Australian Jobs Blowout – Employment +65.2K vs +30K expected. Unemployment fell to 4.1% vs 4.4% expected. AUD outperforming in G10. RBA rate cut expectations getting pushed back.

Published Jan 22, 2026Updated Jan 22, 20266 min read
Top 10 Things Traders Need to Watch Today TACO Trade in Full Effect – Trump cancelled tariffs on eight European countries after the Davos speech. The "Tariffs Are Cancelled, Obviously" rally is lifting everything. Question now is whether this holds or if we get another headline reversal. Greenland Deal Details Emerging – NATO's Rutte says no transfer of sovereignty. Reports suggest "small pockets of land" similar to the UK-Cyprus arrangement and that it's still fluid. German Finance Minister says don't get hopes up too soon. More meetings today could shift sentiment either way. JGBs Finally Stabilizing – Nikkei up nearly 2%, snapping a five-day losing streak. Japanese bonds finding a floor after this week's carnage. The carry trade unwind pressure is easing for now, but watch if this holds. Fed Chair Announcement Imminent – Trump says he has "two or three left in mind." Polymarket has Warsh at 44%, Rieder at 31%, Waller at 14%. Announcement could come any day. A hawkish pick would shift rate expectations fast. PBoC Signals More Easing – Governor Pan says China has room to cut RRR and interest rates this year. Pledged "flexible use of tools." Also strengthening supervision of gold market, which briefly pressured XAU. Gold Pulling Back But Goldman Raises Target – Spot gold at $4,822 after touching $4,772 overnight. Risk premium coming out. But Goldman just raised year-end target to $5,400 (from $4,900). Dips may be buying opportunities. Crude Sliding on Risk Premium Unwind – WTI back to $60, Brent at $64.57. Private inventory data showed bigger crude build than expected (+3.0M vs +1.8M exp). Gasoline build was massive (+6.2M vs +2.5M exp). Big Earnings Day – Intel, Procter & Gamble, Freeport McMoRan, GE Aerospace, and Abbott all reporting. Intel especially worth watching given the semiconductor sector pressure this week. Trump-Zelensky Meeting at 12:00 GMT – US envoy Witkoff says "a lot of progress" on Ukraine, "getting to the end." Proposed tariff-free zone being discussed. Any headline here moves European defense names and broader risk. Australian Jobs Blowout – Employment +65.2K vs +30K expected. Unemployment fell to 4.1% vs 4.4% expected. AUD outperforming in G10. RBA rate cut expectations getting pushed back.