# ?? Forex Market Summary - January 14, 2025 ??
Harnam Prajapati
Regional manager|Customer Success |Research and Consulting | Client Acquisition & Retention| Market Analysis |Revenue Growth |Partnerships |Strategic Consulting |Empathy Advocate |
India Time (IST): 15:00
Dubai Time (GST): 13:30
## ?? US Dollar Surges to 2-Year High
- Dollar Index (DXY) breaks above 110.00 for the first time in 26 months ??
- Non-farm payrolls surge by +256,000 jobs ??
- Unemployment rate drops to 4.1%, reflecting robust labor market ??
- Fed likely to maintain rates at 4.25%-4.50%, with potentially only one rate cut this year ??
## ?? Impact on Major Currencies
- EUR/USD plunges below 1.0200; Resistance at 1.0235 / Support at 1.0105 ??
- GBP/USD trading under 1.2100; Resistance at 1.2225 / Bearish target at 1.1935 ??
- USD/JPY volatile following BOJ's signals of potential rate hike considerations ??
## ? Key Events Today
- 16:00 IST / 14:30 GST: US PPI Report, expected to show increase ??
- Fed Officials' Speeches:
- Jeffrey Schmid: Economic Outlook ???
- John Williams: Housing Market Developments ???
## ?? Commodities and Bonds
- Gold and silver tumble amid strong dollar ??
- WTI crude oil touches $78 per barrel ?
- US 10-year Treasury yield surges to 4.80% ??
- Global bond yields trending upward ??