Market Analysis

December, 2024

  • 17 December 2024 12:48 am

    Tech Year-End Rally Powers Markets Amid Fed Rate Cut Expectations

    The stock market saw a year-end rally for tech companies and other fast-growing businesses, with the tech-heavy Nasdaq Composite up more than 1% in recent trading. Broadcom’s revenue surge and dividend increase last week added to the momentum for tech stocks. A rebound in bond yields has helped drag on …

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  • 17 December 2024 12:03 am

    BoC’s Macklem: Below-forecast growth could keep inflation low

    Bank of Canada Governor Tiff Macklem gave significant statements before the Vancouver Board of Trade on Monday, spinning an expected drag on Canadian economic growth as a positive on the hopes that lagging growth at the nation-wide level could, in theory, limit a re-ignition in inflationary pressures.Key QuotesBig structural changes …

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  • 16 December 2024 11:07 pm

    US Treasury Yields Face Upward Pressure

    US Treasury yields have faced difficulties in sustaining their upward momentum since the opening bell on Wall Street on Monday. This is largely due to the growing expectation that the Federal Reserve will cut interest rates next Wednesday. Such a move would typically push yields on these sovereign securities downward.The …

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  • 16 December 2024 10:04 pm

    Gold Prices Hold Firm Ahead of Fed Decision

    A Cautious Market Awaits the FedGold prices maintained a steady footing on Monday, as investors braced for the Federal Reserve’s interest rate decision. The precious metal, often seen as a hedge against inflation and economic uncertainty, was buoyed by a combination of factors, including expectations of a rate cut and …

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  • 16 December 2024 9:36 pm

    Schnabel Hints At ECB’s Cautious Path to Price Stability

    The European Central Bank (ECB) is cautiously navigating a complex economic landscape as it seeks to balance price stability with economic growth. While the central bank has signaled its intention to continue lowering interest rates, it has emphasized the need for a gradual and data-driven approach.A Delicate Balancing ActECB Executive …

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  • 16 December 2024 8:49 pm

    US Diverging Economy: Services Boom, Manufacturing Struggles

    The US economy is painting a picture of divergence as we approach the end of 2024. While the services sector is thriving, the manufacturing industry continues to face headwinds.The recent S&P Global survey highlights the stark contrast between these two sectors. The US Services PMI surged to a 38-month high …

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  • 16 December 2024 7:15 pm

    US Dollar Strengthens on Upbeat Services PMI

    The US Dollar (USD) gained strength on Monday, as positive economic data bolstered investor sentiment. The preliminary S&P Global Services Purchasing Managers’ Index (PMI) for December came in at 58.5, significantly surpassing expectations of 55.7 and the previous reading of 56.1. This robust figure indicates a strong expansion in the …

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  • 16 December 2024 5:58 pm

    Forex: U.S. Dollar Holds Firm Amid Central Bank Decisions; Bitcoin Hits Record High

    The U.S. dollar remained near a three-week peak against major currencies on Monday as financial markets braced for a busy week of central bank policy meetings. Investors are closely watching the Federal Reserve, which is widely expected to lower interest rates while signaling a gradual approach to further easing throughout …

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  • 16 December 2024 4:04 pm

    U.S. Stocks Edge Higher Amid Fed Meeting Anticipation

    U.S. stocks saw modest gains on Monday, with trading activity subdued as investors awaited the Federal Reserve’s final policy meeting of the year. By 06:10 ET (11:10 GMT), Dow Jones Futures rose 50 points (0.1%), S&P 500 Futures added 8 points (0.1%), and Nasdaq 100 Futures climbed 55 points (0.3%). …

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  • 16 December 2024 2:29 pm

    Europe’s Labour Market Shows Signs of Cooling, Easing Inflation Pressures

    Europe’s labour market softened in the third quarter, with data on Monday indicating a decline in inflationary pressures, potentially paving the way for further interest rate cuts. Labour cost growth in the eurozone slowed to 4.6% in Q3, down from 5.2% in the previous quarter, according to Eurostat. Meanwhile, the …

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  • 16 December 2024 1:28 pm

    Bitcoin Hits Record High Amid Speculation on U.S. Crypto Reserve and Pro-Crypto Sentiment

    Bitcoin surged to an unprecedented high above $106,000 on Monday, fueled by optimism surrounding a potentially favorable regulatory environment under President-elect Donald Trump. His comments about creating a U.S. strategic bitcoin reserve—akin to the nation’s oil reserves—further bolstered market enthusiasm for cryptocurrencies. Key Highlights: Bitcoin Price Surge: Bitcoin reached a …

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  • 16 December 2024 1:08 pm

    Oil Futures Pull Back Amid Profit-Taking, Sanction Risks, and Fed Meeting Anticipation

    Oil futures eased slightly on Monday after reaching their highest levels in weeks, as traders booked profits ahead of the Federal Reserve’s final policy meeting of the year. Despite the decline, prices remain supported by fears of supply disruptions linked to potential U.S. sanctions on major oil exporters like Russia …

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  • 16 December 2024 12:09 pm

    Gold Prices Hold Steady Amid Fed Meeting Expectations; Copper Pressured by Weak China Data

    Gold prices remained relatively flat during Asian trading on Monday as investors tread cautiously ahead of the Federal Reserve’s final policy meeting for 2024. A stronger dollar and mixed signals on U.S. interest rate expectations added pressure to the precious metal, while industrial metals, such as copper, faced headwinds from …

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