AUD/USD: Recovery should be limited
AUD/USD added to Monday’s advance and managed to surpass 0.6200 the figure on the back of further USD selling, while investors warmed up for US CPI data and the Australian labour market report.
EUR/USD: Focus is now of US inflation
EUR/USD traded with marked gains and managed to briefly test the area beyond the 1.0300 hurdle on Tuesday, on the back of the weaker Greenback and rising caution ahead of Wednesday’s publication of US CPI readings.
Gold pressures intraday highs as mood sours
XAU/USD is finding a floor for now to bounce off after its sluggish Monday performance when Federal Reserve (Fed) policy rate concerns took over sentiment, recovering slightly and trading near $2,670 on Tuesday.
Chainlink Price Prediction: Whales acquire $20M in LINK as XRP, DOGE lead market recovery
Chainlink price edged towards the $20 territory on Tuesday, racing into a 10% surge as the crypto market received a major boost ahead of Donald Trump’s inauguration.
DEEPER DIVE
Recent developments in the global economy
Take a look at recent developments in the US, Asia and Europe. US: Recent business surveys suggest that the clean election outcome has led companies that delayed investment and hiring due to election/regulatory uncertainty to start putting money to work.
Has households' purchasing power returned to its pre-inflation level?
While in most major advanced economies the year-on-year growth in nominal wages has been back above inflation for a few months now, we can ask ourselves where households’ purchasing power stands compared to its pre-inflationary crisis level.
China sheds light on its 2025 fiscal policy focus
Markets have been long awaiting more details on China's fiscal policy specifics. A key document shows resources will be focused on supporting equipment renewal and consumption and looks to help China's economy further build on existing areas of strength.
CRYPTOCURRENCIES
Shiba Inu could recover as it finds support around key level
Shiba Inu (SHIB) price hovers around $0.000021 on Tuesday after retesting and bouncing off from key support the previous day. Sideline investors looking to accumulate SHIB can do so at support levels from $0.000019 to $0.000021.
Bitcoin recovers after retesting $90K support
Bitcoin’s price recovers and trades at around $95,500 on Tuesday after dipping below $90,000 the previous day. The recent downturn at the start of the week has liquidated over $734 million in total liquidations, more than $152 million specifically in BTC.
Monero bulls remain strong, eyes double-digit gains
Monero price trades in the green, around $204.92 on Tuesday after holding its ascending trendline support the previous day. The technical outlook suggests a reversal ahead as XMR’s MACD indicator shows a bullish signal.
STOCKS
UnitedHealth Group stock surges on higher Medicare Advantage payments Premium
UnitedHealth Group stock moved against the grain on Monday, powering more than 4% higher by the afternoon on news that the US government has decided to raise privately-managed health insurance payments for retirees by 4.33%.
Albertsons jacks up dividend as stock soars since failed merger
The mega deal with grocery store chain Kroger fell apart in December. Since its failed mega merger with grocery store chain rival Kroger, Albertsons stock has been on a tear. Albertsons stock has jumped about 13% since it merger agreement with Kroger fell apart on December 11.
WEEKLY FORECAST
EUR/USD: Central banks’ imbalances put parity at a stone’s throw Premium
Solid United States employment data smashed the odds for an interest rate cut. Hotter-than-anticipated European inflation to maintain the ECB on the dovish path. EUR/USD faces immediate resistance at 1.0197, the September 2022 monthly high.
GBP/USD: Pound Sterling sellers retain control ahead of key inflation test Premium
The Pound Sterling returns to the red against the US Dollar, hitting 14-month lows. GBP/USD licks wounds heading into the UK/US inflation showdown. Pound Sterling remains vulnerable below the key 21-day SMA at 1.2530.
US Dollar roars after December Jobs Report smashes it out of the park
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is peaking again this Friday. Catalyst was the very positive US employment report where the Nonfarm Payrolls print came in at 256,000 people. Although that
Gold: Bulls come out of the woodwork Premium
Gold gathers bullish momentum and climbs to a fresh multi-week high above $2,680s. Key data releases from China and US inflation figures could drive Gold’s valuation next week. The technical outlook points to a bullish shift in the near term.
Bitcoin: Room for a recovery or continuation of the pullback?
Bitcoin’s price slightly recovers and trades around $94,700 on Friday after declining nearly 6% earlier this week. US Bitcoin spot Exchange Traded Funds data shows signs of mild recovery, with a total net inflow of $462.2 million until Thursday.
Think ahead: Mixed inflation data
Core CPI data from the US next week could ease concerns about prolonged elevated inflation while in Central and Eastern Europe, inflation readings look set to remain high. In US, the key data points to watch next are consumer price inflation and retail sales.
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