EUR/USD eases below 1.0300 ahead of ECB Minutes, US data
EUR/USD is falling back below 1.0300 in European trading on Thursday. Despite risk appetite and a softer US Dollar, the pair struggles due to dovish ECB-speak and Eurozone's economic woes. The focus now remains on the ECB Minutes and high-impact US data.
GBP/USD holds losses around 1.2200 after dismal UK data
GBP/USD is battling 1.2200 in the European session on Thursday. The pair faces headwinds from disappointing UK GDP and industrial figures for November, increased bets of BoE rate cuts and a steady US Dollar. US Retail Sales and Jobless Claims data are next on tap.
Gold extends recovery on rate cut expectations
Gold’s price edges higher for the third day in a row and recovers initial weekly losses, rising above the $2,700 level at the time of writing on Thursday. The recovery comes in the run-up and release of the December US Consumer Price Index (CPI) data on Wednesday.
Algorand bulls aim for double-digit gains
Algorand price extends its gains, trading around $0.469 on Thursday after rallying more than 19% the previous day. The Algo insights report shows that ALGO’s RWA TVL increased 34.6% and 64.5% of the year’s follower growth on X.
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
Crypto Today: VanEck ETF filing drives BTC to $100k as Stellar (XLM) tracks XRP price rally
Cryptocurrencies aggregate market capitalization reached $3.5 trillion on Wednesday, rising by $152 billion within the daily timeframe. This 4.8% increase is the highest single-day crypto market gains since in 35 days dating back to December 11.
Bitcoin price reverses from $100.6K as retail traders buy Trump-related tokens
Bitcoin price hit $100,686 on Wednesday, posting 3.3% gains within the daily timeframe. Market data shows that the traders are leaning more towards the altcoin market following VanEck’s latest ETF filing.
BitMEX slapped with $100 million fine, accused of evading US financial laws
In a court order on Wednesday, HDR Global Trading Limited, which controls and operates the crypto exchange BitMEX, was hit with a $100 million fine by a US District Court for violating the Bank Secrecy Act and Anti-Money Laundering laws.
STOCKS
Salesforce stock chosen as top 2025 pick by two Wall Street firms Premium
Salesforce (CRM) stock is receiving the love on Tuesday after two venerable Wall Street firms added the maker of customer management software to their lists of top stock picks for the present year.
Applied Digital stock skyrockets 13% on $5.00 billion investment
Data center operator gets $5 billion investment from Macquarie. Shares of Applied Digital were rising on Tuesday, up more than 13% on the day to roughly $8.80 per share.
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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