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December, 2024

  • 31 December 2024 7:18 pm

    Despite Daily Gains, Oil Prices End Year with Losses On 2025’s Uncertainties

    Oil prices concluded 2024 with a second consecutive year of losses, despite a modest increase on Tuesday. While Brent crude futures and US West Texas Intermediate (WTI) crude saw slight gains, they remain below their year-end 2023 levels, indicating a subdued market.The subdued price environment reflects a confluence of factors. …

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  • 31 December 2024 5:32 pm

    China’s Economy on Track for 5% Growth in 2024, Xi Jinping Confirms

    China’s GDP is projected to grow by approximately 5% in 2024, aligning with the government’s formal growth target, according to President Xi Jinping. This reinforces confidence in the resilience of the world’s second-largest economy despite a year of economic uncertainty. Stability Amid Challenges: Speaking at a New Year event, Xi …

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  • 31 December 2024 2:40 pm

    US Dollar Slightly Lower but Set for Strong Annual Gains in 2024

    The US Dollar edged lower in early trading on Tuesday, reflecting thin year-end market activity. However, the greenback remains on track for significant gains in 2024, driven by the Federal Reserve’s cautious stance on interest rate cuts and expectations tied to the incoming Donald Trump administration. Dollar Index: Down 0.1% …

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  • 31 December 2024 1:18 pm

    European Stocks Flat in Final Trading Session of 2024 Amid Policy and Political Uncertainty

    European stock markets traded in a subdued manner on Tuesday, wrapping up a year of mixed performances. Uncertainty regarding monetary policy and political shifts curtailed earlier gains, with several indices hitting record highs earlier in the year. Pan-European STOXX 600: Flat as of 08:21 GMT, with the benchmark on track …

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  • 31 December 2024 12:05 pm

    Oil Prices Edge Higher on China Manufacturing Data but Remain Set for Yearly Losses

    Oil prices rose on Tuesday following news of China’s continued manufacturing expansion in December. However, both Brent and WTI are poised to end lower for the second consecutive year due to demand concerns in key consuming nations. Brent Crude Futures: Increased by 0.8% to $74.56 per barrel. West Texas Intermediate …

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  • 31 December 2024 11:38 am

    Gold Prices Steady Amid Thin Year-End Trading, Set for Strong Yearly Gains

    Gold prices remained largely unchanged during Asian trading hours on Tuesday, with Spot Gold steady at $2,607.65 per ounce and Gold Futures for February delivery edging 0.2% lower to $2,620.22 per ounce by 00:23 ET (05:23 GMT). Year-end trading typically sees thin volumes, with institutional investors wrapping up positions ahead …

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  • 31 December 2024 11:07 am

    Bitcoin Declines Further as Year-End Weakness Persists

    Bitcoin extended its slide on Tuesday, falling 1.2% to $92,733.4 by 01:11 ET (06:11 GMT). The cryptocurrency hit a monthly low of $91,522 on Monday before recovering slightly as dip buyers stepped in. Despite the brief recovery, Bitcoin has dropped in five of the past six sessions and is poised …

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  • 31 December 2024 12:52 am

    Oil Prices End 2024 At Murky Midpoint: A Year of Contradictions and Uncertainties

    The year 2024 in the oil market was characterized by a perplexing blend of robust demand and lingering uncertainties. While global oil consumption reached a record high, defying expectations amidst concerns about slowing Chinese economic growth, the year ended with prices largely stagnant. Brent crude hovered around $74 per barrel, …

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  • 31 December 2024 12:03 am

    Market Drivers, US Session – Holiday Grind: Markets Drift in Year-End Slumber

    The final days of the year have descended upon global markets, ushering in a period of characteristically subdued activity. With major exchanges shuttered for several days during the holiday week, trading volumes have dwindled, and price movements have become muted. The US Dollar Index (DXY) has remained largely unchanged, hovering …

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  • 30 December 2024 11:34 pm

    Loonie Lifts on Thin Holiday Trading, But Outlook Remains Dim

    The Canadian Dollar staged a modest recovery against the US Dollar on Monday, gaining nearly half a percent. However, this move appears driven by thin trading conditions and a lack of significant market activity as the year draws to a close.With most global markets observing the holiday season, trading volumes …

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  • 30 December 2024 10:42 pm

    Tech Tumble Dampens US Stocks as 2025 Draws Near

    The year 2024 ended with a subdued note for US stocks, particularly the technology sector. This downturn, following the Federal Reserve’s indication of a slower pace of interest rate cuts, raises questions about the market’s resilience and the sustainability of its recent gains.While the S&P 500 enjoyed a remarkable 25% …

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  • 30 December 2024 10:03 pm

    EUR/USD Slumps Below 1.0400 as Holiday Trading Cools

    The EUR/USD pair slipped below the 1.0400 level on Monday as subdued trading volumes characterized the final days of the year. With many markets closed for the New Year’s holiday, investor activity has significantly diminished, leading to muted price action across most asset classes.The upcoming holiday week will see further …

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  • 30 December 2024 8:58 pm

    Sterling Weakens Against US Dollar as Year-End Trading Winds Down

    The Pound Sterling (GBP) weakened against the US Dollar (USD) on Monday, as the US Dollar rebounded in thin trading conditions ahead of the New Year holiday. The GBP/USD pair fell below 1.2550 after failing to sustain an intraday high above 1.2600.The US Dollar Index (DXY) rose towards 108.30, poised …

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