[Trump Urges Interest Rate Cut Amid Russia-Ukraine Negotiation News, Copper Prices Rise in Response]
Macro side, US January CPI data exceeded expectations across the board, but Powell cautioned against overreacting and remained cautious about an interest rate cut. Before Powell's remarks, Trump urged the US Fed to cut interest rates, stating that such a move would complement the upcoming policies. As a result, the US Fed might have to adjust rates in response to tariff policies. Additionally, two hours after the data release, Trump and Putin held a call, agreeing to negotiate an end to the Russia-Ukraine war. This news caused the euro to surge, the US dollar to weaken, and copper prices to rise.
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