CHICAGO PMI HITS 6-MONTH LOW
The Chicago PMI for December dropped to 36.9.
This is the lowest level in 6 months.
The reading was worse than expected, which was 42.7.
November’s reading was 40.2.
Bitcoin ETFs in the U.S. received a lot of money for the second day in a row. On January 16, investors put in about $626.15 million. This happened because Bitcoin’s price went above $100,000. People are hopeful about new rules from the upcoming U.S. government
WEEK AHEAD – MARKETS ON EDGE AHEAD OF TRUMP’S INAUGURATION AND BOJ DECISION Markets are preparing for Trump’s inauguration and its impact. The Bank of Japan (BoJ) is expected to raise rates at its first meeting of 2025. Euro and Pound traders will focus on PMI data. Canada and
BRICS is not planning to stop using the US dollar in trade. Most BRICS countries keep a large part of their money in US dollars. BRICS wants to make trade easier between member countries. They do not want to create problems with other countries. A Brazilian official shared this information
European natural gas prices went up slightly by 0.2%, reaching €46.36 per megawatt hour. Prices had fallen earlier in January. The earlier price drop happened because of warmer weather and steady LNG supply to Europe. Another reason for the price drop was the loss of Russian gas due