Market Update

Consumer sentiment in Japan took a hit in December, as per a government survey released on Wednesday. The decline raises questions about the Bank of Japan’s (BOJ) optimism that robust household spending will drive the economy and support future interest rate hikes. The sentiment index fell to 36.2 in December, …

European stocks saw modest gains on Wednesday, driven by advances in heavyweight healthcare and financial sectors, while investors remained attuned to global monetary policy signals in the New Year. The pan-European STOXX 600 rose by 0.2% as of 08:21 GMT, maintaining its position near a three-week high. Financial services led …

Oil prices gained on Wednesday, supported by tightening supplies from Russia and OPEC members, along with robust U.S. economic data suggesting potential growth in oil demand. Brent crude rose 0.5% to $77.42 per barrel by 07:30 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 0.6% to $74.69. A Reuters …

Bitcoin continued its downward trajectory on Wednesday, erasing the entirety of its recent rebound as concerns over slower-than-expected interest rate cuts in 2025 rattled risk-driven assets. After briefly surpassing the $100,000 mark during a recovery from a late-December slump, the world’s largest cryptocurrency saw sharp losses on Tuesday and Wednesday. …

US stocks experienced slid on Tuesday, with the S&P 500 and Nasdaq Composite falling significantly. This downturn follows a period of sustained market strength and was primarily driven by stronger-than-expected economic data that dampened expectations of imminent Federal Reserve interest rate cuts.The S&P 500 declined 1.2%, while the Dow Jones …

The Canadian Dollar (CAD) has halted its recent bullish recovery, halting on the charts and cycling familiar levels against the Greenback. The Loonie has recovered some ground after tumbling to multi-year highs at the tail-end of 2024, but bullish momentum remains elusive. Canada’s Ivey Purchasing Managers Index (PMI) figures disappointed …

The US Dollar Index (DXY) staged a comeback on Tuesday, erasing earlier losses and trading higher. This resurgence was primarily fueled by a confluence of factors, with the Federal Reserve’s hawkish stance playing a pivotal role. The Fed’s recent shift towards a more restrictive monetary policy has propelled US Treasury …

The US service sector demonstrated robust growth in December, with the ISM Services PMI climbing to 54.1, indicating expansion. However, this growth was accompanied by a significant jump in service prices, reaching the highest level since early 2023. This surge in prices, driven by strong demand and increased input costs, …

Dogecoin (DOGE) prices remain subdued, trading below $0.40 despite recent bullish momentum. This consolidation follows accusations leveled against Elon Musk by French President Emmanuel Macron regarding alleged interference in German elections. While Musk’s influence on the cryptocurrency market, particularly Dogecoin, is undeniable, traders appear undeterred. On Tuesday, the coin lost …

The resilience of the U.S. job market, highlighted by a surge in job openings to 8.10 million in November, is casting a shadow over gold’s prospects. This unexpected strength in labor demand, exceeding economist forecasts, has dampened gold’s initial rally.The robust job market strengthens the Federal Reserve’s case for a …