Stocks and Oil in retreat again

Chris Beauchamp IG

Fresh selling has engulfed markets, with the risk-off move becoming even more firmly entrenched thanks to lack of debt ceiling progress, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

Nasdaq an island of gains in a sea of red

“Nvidia’s impressive bounce has meant that the Nasdaq is the sole area of strength in stocks this afternoon. Even this may not last if the day passes without any positive debt ceiling headlines. A long weekend ahead means that US, UK and European markets may see further de-risking by anxious investors. By the sound of the comments coming out of Washington it is still too early to hope for a deal this side of the weekend.”

Oil prices go into reverse

“After such high hopes of more upside yesterday, oil prices have slumped today after Russia poured cold water on hopes of a new production cut. Faced with declining demand forecasts oil bulls have capitulated again, perhaps paving the way for a move back to the May lows.”

Author

Chris Beauchamp

EUR/USD steadies near 1.1650 ahead of US Nonfarm Payrolls

EUR/USD holds ground after five days of losses, trading around 1.1650 during the Asian hours on Friday. Traders remain cautious ahead of the US Nonfarm Payrolls report, which is expected to offer further insight into labor market conditions and the Federal Reserve’s policy outlook. December NFP is forecast to show job gains of 60,000, down from 64,000 in November.

GBP/USD: Further weakness could challenge 1.3400

GBP/USD remains under unabated selling pressure on Thursday, slipping to fresh three-day lows around 1.3415 in response to further improvement in the sentiment surrounding the Greenback ahead of Friday’s key NFP data.

Gold defends $4,450, looks to the crucial US NFP report

Gold struggles to capitalize on the previous day's goodish move up from the vicinity of the $4,400 mark and attracts some sellers while defending $4,450 in the Asian session on Friday. The critical US employment details will offer more cues about the Fed's rate-cut path, which, in turn, will influence the US Dollar price dynamics and provide a fresh impetus to the non-yielding bullion.

Forecasts for Payrolls are all over the place

Yesterday’s data put the kybosh on the idea the Fed needs to cut rates fairly urgently to protect the labor market. The jobs component of the ISM services index was nicely over 50, and that rising JOLTS voluntary quits rate also points to no real heartache in labor.

2026 economic outlook: Clear skies but don’t unfasten your seatbelts yet

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

XRP slides as institutional and retail demand falters

Ripple is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.