US: Approval Of Trump's Handling Of Trade/Inflation Plunges After SCOTUS Ruling

EUR/USD: Jan28 $1.1800(E1.4bln); Jan30 $1.1800(E1.7bln), $1.1850(E1.7bln), $1.1900(E2.8bln)
USD/JPY: Jan30 Y156.00($1.3bln)
AUD/USD: Jan28 $0.6730(A$1.3bln); Jan29 $0.6825-40(A$1.2bln)

Italy has announced it will be looking to sell the following at its auction this Thursday, January 29:

• E2.5-2.75bln of the 2.85% Feb-31 BTP (ISIN: IT0005671273)
• E3.5-3.75bln of the 3.45% Feb-36 BTP (ISIN: IT0005676504)
• E1.5-2.0bln of the 0.80% Apr-35 CCTeu (ISIN: IT0005680753)
   

Reuters reports that according to an EU lawmaker, the European Parliament's international trade committee has delayed the decision on whether to unfreeze the process of implementing the US-EU trade agreement unveiled in the summer of 2025 until 4 Feb. The committee froze the process of ratification as US rhetoric surrounding the future of Greenland escalated significantly last week. 

• After President Donald Trump withdrew the threat of additional tariffs on eight European NATO members, EU leaders at last week’s emergency Council meeting indicated they would be in favour of getting the deal back on track, as did Parliament President Roberta Metsola. However, division between political groups in the European Parliament could mean the deal remains in the deep freeze. The centre-left Socialists and Democrats, centrist Renew Europe, and environmentalist Greens have all stated their opposition to a swift reversal, arguing that more time is needed to assess the deal in greater detail.