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The oil-dollar pair surged by 1.1% in the last session. The Commodity Channel Index (CCI) indicates that the market is currently overbought.
The Australian dollar gained 0.1% against the US dollar in the last session. The Stochastic indicator is showing a positive signal.
The EUR/USD pair climbed 0.4% in the last session. The Williams Percent Range indicator is emitting a positive signal.
The USD/JPY pair dipped 0.1% in the last session, following a minor downward correction. The Williams Percent Range indicator suggests an overbought market, supporting a negative signal in technical analysis.
US stocks rebounded in the final session of a holiday-shortened week, buoyed by investor optimism about anticipated Federal Reserve rate cuts and more lenient regulatory policies under a new administration. In corporate news, Taiwan's Foxconn recorded its highest-ever quarterly revenue, fuelled by strong demand for AI servers and iPhones, with a 15.2% year-on-year revenue jump to $64.7 billion.
Key economic events to monitor include:
The GBP/USD pair dropped by 1.2% in the last session. The Stochastic indicator is signalling a negative trend.
Bitcoin soared by 2.9% against the dollar in the last session. The Williams Percent Range indicator is giving a positive signal.
US Crude Oil surged by 1.3% against the dollar in the last session. The Commodity Channel Index (CCI) indicates an overbought market.
The AUD/USD pair remained largely unchanged in the last session. The Stochastic indicator is giving a positive signal.
The T3 Financial Crimes Unit has frozen $126 million in USDT since August 2024. Oil prices rose by 2% as optimism grows around China's economy. Gold increased by 1.3% due to Safe Haven buying and anticipation of the Federal Reserve's rate decisions.
Key economic events to monitor include:
On the last trading day of 2024, major global indices delivered mixed results. The following summaries capture the year-end statistics:
• Dow Jones Industrial Average (US30): Down by 0.07% on December 31, closing the year with a remarkable +12.80% gain.
• S&P 500 Index (US500): Declined by 0.43%, but posted a stellar annual performance of +24.01%.
• Nasdaq Technology Index (US100): Dropped 0.87%, capping an impressive year with +27.01% growth.
As investors look forward to fresh data, December’s US Manufacturing Activity Index, set to release this Friday, remains pivotal in shaping early 2025 market sentiment. The index is forecasted to dip slightly by 0.2 points to 48.2, indicating continued contraction in the sector.
The Mexican peso faced headwinds due to a strengthening US dollar, buoyed by rising yields and safe-haven demand. Amidst thin holiday liquidity, the peso concluded 2024 as one of the worst-performing emerging market currencies, tumbling by nearly 19% year-to-date.
WTI crude oil surged above $72 per barrel during the first post-New Year trading session, following data from the API showing a 1.4 million barrel decline in US crude inventories. If official data confirms this trend, it would represent the third consecutive weekly drop.
Recovering from two-year lows, the Australian dollar climbed above US$0.62, supported by rising commodity prices that favour Australia’s position as a net exporter.
The New Zealand dollar experienced modest gains, fuelled by optimism surrounding China’s economic recovery. However, dovish expectations from the Reserve Bank of New Zealand and weaker factory activity data continued to weigh on the currency.
Markets across Europe were closed on December 31, but full-year performances revealed notable trends:
On December 31, Asian indices displayed mixed movements:
The People’s Bank of China (PBoC) injected a record 1.7 trillion yuan ($233 billion) into the economy in December, signalling continued accommodative policies to counteract trade-related headwinds. This follows earlier injections of 800 billion yuan and 500 billion yuan in October and November, respectively.
Singapore’s GDP growth slowed to 4.3% in Q4 2024 from 5.4% in Q3. However, the full-year expansion of 4% outpaced both the 2023 growth rate (1.1%) and forecasted figures (3.5%).
Indonesia’s annual inflation held steady at 1.57% in December, slightly below market expectations of 1.6%, but comfortably within the central bank’s target range of 1.5% to 3.5%.
Australia Manufacturing PMI at 00:00
China Caixin Manufacturing PMI at 03:45
Switzerland Manufacturing PMI at 10:30
Germany Manufacturing PMI at 10:55
Eurozone Manufacturing PMI at 11:00
UK Manufacturing PMI at 11:30
US Initial Jobless Claims at 15:30
Canada Manufacturing PMI at 16:30
US Manufacturing PMI at 16:45
US Crude Oil Reserves at 18:00
Oil gained 0.7% against the dollar in the last session. The Stochastic RSI is signalling a positive trend.
The AUD/USD pair traded sideways in the last session. The Stochastic indicator suggests the market is currently oversold.
The EUR/USD pair traded sideways in the last session. The Williams Percent Range indicator is providing a positive signal.
The USD/JPY pair made a minor downward correction, dropping 0.1% in the last session. The Stochastic indicator suggests the market is currently overbought.
Global equity funds saw sharp inflows this past week, buoyed by a positive US inflation report and relief from avoiding a government shutdown, boosting investor confidence in risk assets. Meanwhile, United Health and a Medici's merger faces delays under close scrutiny from the US Department of Justice. US stocks had a banner year in 2024, with the S&P 500 up by 25% and the NASDAQ Composite up by over 31%.
Key economic events to monitor include:
The GBP/USD pair traded sideways in the last session. The Stochastic RSI is giving a negative signal, suggesting potential bearish momentum.
Bitcoin fell 0.5% against the dollar in the last trading session. The RSI is currently giving a negative signal, indicating bearish momentum.
The oil-dollar pair traded sideways in the last session. The Rate of Change (ROC) indicator is signalling negative momentum, suggesting caution in the market.
The AUD/USD pair remained largely unchanged in the last session. The Commodity Channel Index (CCI) indicates an oversold market, hinting at potential bullish opportunities.
Ether’s price dropped below $3,400, erasing prior gains and triggering $34 million in liquidations of leveraged ETF longs. This followed a 4% decline in Bitcoin, reflecting increased investor risk aversion. Meanwhile, US job market data shows a cooling yet steady labour environment, reducing the likelihood of further Federal Reserve interest rate cuts in the near term. Gold prices rose slightly, driven by safe-haven demand amid thin post-holiday trading as markets await further economic signals.
Key economic events to monitor include:
Gold fell by 0.4% against the dollar in the last trading session. The Ultimate Oscillator indicates a negative signal.
The EUR/USD pair dropped by 0.3% against the dollar in the last trading session. The MACD is giving a negative signal.
The GBP/USD pair fell by 0.3% in the last trading session. The Stochastic RSI indicates a negative signal.
The Bitcoin/USD pair dropped by 1.6% after gaining as much as 1.3% during the last session. The Rate of Change (ROC) indicator signals a potential positive trend.
The S&P 500 and NASDAQ Composite rose in holiday-thin trading, supported by a stop-gap funding bill that averted a US Government shutdown. Gains were led by the 'Magnificent 7' tech stocks. MicroStrategy continues aggressive Bitcoin acquisition, purchasing 5,262 BTC for $561 million. Apple nears a $4 trillion valuation as AI-enhanced developments rejuvenate iPhone sales, surpassing Nvidia and Microsoft in valuation gains.
Key events to monitor in the coming days include:
The Oil-Dollar pair gained 0.5% in the last session. The Stochastic indicator is giving a positive signal.
The Aussie-Dollar pair rose by 0.2% in the last session. The Rate of Change (ROC) indicator is giving a negative signal.
The EUR/USD pair gained 0.6% in the last session. The Ultimate Oscillator is giving a negative signal.
The Dollar-Yen pair fell by 0.6% in the last session. The Stochastic RSI indicates an overbought market.
China maintained its benchmark lending rates as expected, with the one-year loan PR rate at 3.1% and the five-year LPR at 3.6%. Neo plans to launch its Firefly EV brand in Europe by early 2025, competing with Mercedes Smart and BMW's Mini. Meanwhile, Wall Street surged as cooler-than-expected inflation data boosted investor confidence. Gold soared, and US Treasury yields eased from multi-month highs.
Significant economic updates include:
The GBP/USD pair dropped by 0.4% in the last session. The MACD is currently signalling a negative trend.
Bitcoin paired with the dollar fell by 1.7% in the last session. The CCI is indicating a negative trend.
The oil-dollar pair traded sideways in the last session. The Stochastic indicator is giving a positive signal.
The AUD/USD pair gained by 0.5% in the last session. The RSI indicates the market is currently oversold.
Funds stolen from hacking cryptocurrency platforms surged by 21% in 2024, reaching $2.2 billion, according to a report from Chainalysis. This marked the fourth consecutive year where losses exceeded $1 billion, with hacking incidents rising to 303 from 282 in 2023. The US economy saw faster growth in the third quarter, with GDP increasing by an annualised 3.1%, driven by strong consumer spending. Meanwhile, oil prices fell as cautious signals from US and European central banks raised concerns about weak economic activity impacting demand.
Key economic events to watch include:
The EUR/USD pair remained largely unchanged in the last trading session. The MACD is currently indicating a negative signal.
The USD/JPY pair saw a slight rise of 0.1% in the last session. The RSI is giving a positive signal.
The GOLD/USD pair dropped by 0.3% in the last session. The Stochastic indicator is signalling a negative trend.
Volkswagen shares saw a modest rise of 0.1% in the last session. The MACD is giving a positive signal.
Oil prices rose as US crude inventories fell, but gains were limited after the Federal Reserve cut interest rates while signalling a slower pace of future reductions. The Fed's 25 basis-point cut set rates between 4.25% and 4.5%. Meanwhile, US stocks erased gains following the announcement, reflecting cautious market sentiment.
Key economic events to monitor include:
The Bitcoin/USD pair rose by 0.9% in the last session, after gaining as much as 2% earlier in the day. The Rate of Change (ROC) indicator is giving a positive signal.
Meta shares dropped by 0.7% in the last session. The Williams Percent Range indicator is currently giving a negative signal.
The AUD/USD pair fell by 0.4% in the last session. The Stochastic indicator is currently showing a negative signal.
Gold dipped by 0.2% against the dollar in the last session, as the RSI indicated a negative signal. A stronger US dollar and rising Treasury yields contributed to this decline.
Gold prices faced headwinds due to a stronger US dollar and climbing Treasury yields, as investors focus on the Federal Reserve’s final policy meeting of the year. Retail sales data in the US surpassed expectations, reinforcing economic momentum. Meanwhile, crypto.com CEO Chris Marel met with US President-elect Donald Trump to discuss proposals for a National Bitcoin Reserve.
Key events to monitor include:
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