US DOLLAR STRENGTHENED BY TREASURY YIELDS; OUTLOOK FOR GOLD, GBP/USD, EUR/USD The US Dollar Index (DXY) remains strong at 108.16, supported by higher Treasury yields near 4.6%. Durable Goods Orders dropped by 1.1% in November. Consumer Confidence fell to 104.7 in December, showing mixed
DOW DIPS MORE THAN 100 POINTS, FALLING FOR THE FIRST TIME IN 5 SESSIONS The Dow Jones dropped by 135 points, ending a 5-day streak of gains. The S&P 500 and Nasdaq both fell by 0.3%. The stock market was closed on Wednesday for Christmas Day.
US UNEMPLOYMENT CLAIMS RISE LESS THAN EXPECTED LAST WEEK US Unemployment Claims Data Released: The US Bureau of Labor reported unemployment claims for the week ending December 20. Lower Than Expected: Claims increased by 219,000, below the expected 224,000. Slight Decrease from Last Week: The previous week had
STOCKS CUT EARLIER LOSSES IN THIN TRADING THE DAY AFTER CHRISTMAS Market Overview: Stocks slightly fell in quiet trading after the Christmas holiday. Dow Jones: Dropped 20 points, its first decline in five sessions, after being down by as much as 182 points earlier. S&P 500 and Nasdaq:
CHINA'S ECONOMIC DEVELOPMENTS AND POLICIES UPDATE Wang Yi considers visiting Japan in February, according to Kyodo. China’s 7-day repo rate increases by 15 basis points to 1.7437%. Ministry of Industry and Information Technology (MIIT) forecasts a 5.7% year-on-year increase in industrial output for January to
GOLD RISES ON SAFE-HAVEN DEMAND AS MARKETS EYE 2025 OUTLOOK Gold prices rose on Thursday. The rise was driven by safe-haven demand. Light trading volumes followed the Christmas holiday. Markets are awaiting signals on the U.S. economy under the incoming Trump administration. Investors are also looking for insights on
BITCOIN QUICKLY TURNS BELOW $96,000 AFTER MORNING HIGH Bitcoin surged on Thursday but quickly turned bearish after hitting a morning high. The price spike followed MicroStrategy’s announcement to issue new shares to buy more Bitcoin. Bitcoin topped $99,000 in the morning but fell below $96,000 during
OIL PRICES EDGE HIGHER ON HOPES FOR MORE CHINA STIMULUS Oil prices edged higher on Thursday during thin holiday trading. The increase was driven by expectations of additional fiscal stimulus in China, the world’s largest oil importer. An anticipated decline in U.S. crude inventories also supported oil prices.
RUSSIA REJECTS TRUMP’S CALL FOR UKRAINE CEASEFIRE, SAYS READY FOR PEACE TALKS Russia rejected U.S. President-elect Donald Trump’s call for an immediate ceasefire in Ukraine. Russia signaled willingness to engage in discussions for a lasting peace deal to end the war. Russian Foreign Minister Sergei Lavrov called
BTC FACES FURTHER DOWNSIDE AS WHALE TRANSACTIONS SURGE Bitcoin opened trading at $94,800 on Tuesday, its lowest level since November 27. The average transaction size on the Bitcoin network reached $306,101 on December 22, signaling large sell-offs by whale investors. The Bull Bear Power indicator shows continued downside
GOLD GAINS ON WEAK DOLLAR, GEOPOLITICAL TURMOIL Gold gained on Thursday amid light holiday trading. The U.S. dollar showed slight weakness, supporting gold prices. Geopolitical turmoil contributed to the upward movement in gold. Investors are focused on the Federal Reserve's rate strategy for 2025 and President Trump’
EUR/USD ANNUAL PRICE FORECAST: PARITY LIKELY IN 2025 The EUR/USD pair is expected to test parity in the first half of 2025. The EUR/USD pair started 2024 at 1.1040 and ended near its yearly low of 1.0332. By September 2024, the EUR/USD pair surged