FX Updates
Stable Market Minute - 26th January 2026: Trump's Greenland Gambit
Catch up on all the economic news you need to know in the time it takes to run 400m.
Watch Alistair's video update here
Last week was a whirlwind in the financial markets, heavily influenced by geopolitical shifts and economic data releases. Sterling's performance was particularly noteworthy, with GBP/USD trading at 1.3661 and GBP/EUR at 1.1531. Meanwhile, EUR/USD stood at 1.1846. Precious metals saw varied movements, with gold priced at $5,091 and silver at $109. Crude oil also held steady at $61.20.
A significant focus was on the US, where President Trump’s controversial negotiations regarding Greenland, including threats of invasion and new tariffs on parts of the Eurozone, created market ripples. Although these decisions were reversed, the impact on the US dollar was palpable. The week concluded with Sterling gaining strength, buoyed by robust UK retail sales figures and weaker-than-expected US manufacturing data.
Looking ahead, this week promises more action. The Bank of Canada is set to announce its interest rate decision on Wednesday, followed by the Federal Reserve's announcement later that evening. On Friday, markets will keenly watch the release of German and Eurozone GDP figures for the fourth quarter.
Looking for more insights? Check out Stable's 'Planning for 2026' guide for more practical tips and actionable analysis to help you get a jump on the year ahead.