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The Dow Jones Industrial Average plummeted over 700 points on Friday, following the release of unexpectedly strong Nonfarm Payrolls (NFP) data for December. This robust jobs report, significantly exceeding market expectations, dampened hopes for imminent Federal Reserve (Fed) interest rate cuts. Simultaneously, the University of Michigan consumer sentiment survey revealed …
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January, 2025
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10 January 2025 8:19 pm
Fed’s Goolsbee: Rates could come down if things stay steady and inflation doesn’t spike
Federal Reserve Bank of Chicago President Austan Goolsbee stated in a CNBC interview on Friday that interest rates should decrease if economic conditions remain stable, inflation does not resurge, and full employment is maintained, according to Reuters. Goolsbee emphasized that the labor market is currently stable at full employment and …
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10 January 2025 7:09 pm
Upbeat NFP Data Evidences Resilient Labour Market
The recent US nonfarm payrolls report delivered a resounding message: the American labour market remains a force to be reckoned with. December witnessed a robust 256,000 job additions, significantly surpassing expectations and solidifying the economy’s resilience. This robust growth, particularly evident in the private sector, underscores the continued strength of …
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10 January 2025 5:03 pm
Delta Air Lines Exceeds Q4 Earnings Expectations on Robust Travel Demand
Delta Air Lines reported fourth-quarter earnings that outperformed Wall Street estimates, propelled by strong travel demand and solid operational performance. Following the announcement, the airline’s shares rose 1.5% in premarket trading. The company posted adjusted earnings per share (EPS) of $1.85, surpassing the consensus estimate of $1.75. Revenue for the …
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10 January 2025 2:51 pm
China’s Central Bank Halts Treasury Bond Purchases Amid Currency Concerns
China’s central bank, the People’s Bank of China (PBOC), announced on Friday the suspension of its treasury bond purchase operations, causing yields to surge and fueling speculation that the move is an attempt to stabilize the weakening yuan. The PBOC attributed the decision to a shortage of bonds in the …
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10 January 2025 12:58 pm
European Markets Edge Lower as Investors Await U.S. Jobs Data
European stock markets traded slightly lower on Friday as investors exercised caution ahead of the release of the U.S. monthly employment report, a critical indicator for shaping future Federal Reserve rate policy. By 03:10 ET (08:10 GMT), the German DAX index declined 0.1%, France’s CAC 40 dipped 0.1%, and the …
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10 January 2025 11:10 am
Oil Prices Climb as Winter Weather and Supply Concerns Drive Demand
Oil prices rose in early Asian trade on Friday, continuing their upward trajectory for a third consecutive week. Harsh winter conditions in parts of the United States and Europe have intensified demand for heating fuels, adding to supply concerns amid tightening sanctions and global economic shifts. Brent crude futures increased …
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10 January 2025 10:42 am
Gold Prices Inch Higher Amid Rate and Trade Jitters, Copper Boosted by China Stimulus Hopes
Gold Market Highlights Gold Extends Weekly Gains Amid Uncertainty Spot gold rose 0.1% to $2,672.12 per ounce, while gold futures for February delivery gained 0.2% to $2,695.74 per ounce during early Asian trading. For the week, spot gold is up approximately 1.5%, as concerns over U.S. interest rates and trade …
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10 January 2025 3:20 am
What Can Markets Expect from December’s US Employment Data?
US employment data significantly influences market price movements. By examining preliminary employment indicators, we can anticipate the likely outcomes of the official data release, typically on the first Friday of each month.This Friday, the highly anticipated US employment data is scheduled for release. Market expectations point towards a substantial increase …
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9 January 2025 11:37 pm
US Market Activity Stalls Ahead of NFP ReleaseTrading volumes in the US market were subdued on Thursday, as market participants braced for the upcoming Nonfarm Payrolls (NFP) report scheduled for release on Friday, January 10th.The US Dollar Index (DXY) displayed modest gains amidst a generally tepid market environment. The observance …
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9 January 2025 9:59 pm
Loonie Declines Despite US Market Pause
The Canadian Dollar continued its downward spiral on Thursday, losing another 0.1% against the US Dollar. This decline occurred despite the US market being closed for a national day of mourning, a stark reminder of the Loonie’s ongoing struggle against the Greenback. With limited trading activity due to the holiday, …
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9 January 2025 8:45 pm
BoE’s Breeden: Some evidence of activity weakening, but we expect it to pick up again
Bank of England (BoE) Monetary Policy Committee (MPC) member and Deputy Governor for Financial Stability Sarah Breeden noted that it might finally be time for the BoE to start loosening policy rates now that UK economic data has effectively begun to crumble.Key HighlightsThere is some tentative evidence that activity is …
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9 January 2025 7:50 pm
Fed’s Harker Signals Continued Rate Cuts, But Urges Caution
Philadelphia Federal Reserve President Patrick Harker reiterated his belief that the U.S. central bank will eventually lower interest rates, but emphasized the need for a cautious approach given current economic uncertainty.In a speech to the National Association of Corporate Directors New Jersey Chapter, Harker stated that while he anticipates a …
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