Morning Update — 26.12.2024
🎄 Morning Update — 26.12.2024 🌅
📈 Market Highlights
European trading continues the overnight rally seen in Wall Street futures.US100 is up +0.2% 🟢US500 remains near Tuesday’s close.Tech stocks are extending their gains from Tuesday’s strong session.🔔 Most global markets are closed today, but Wall Street is open as usual.
🌟 Santa Claus Rally & January Effect?
Market movements suggest these phenomena might still influence trading.Both US100 & US500 are testing historic highs.
🇯🇵 Asia Focus
JAP225: +0.5% 📈, possibly due to BoJ Governor Ueda’s comments.Inflation risks remain high; rates to stay below neutral for now.BoJ may raise rates if the economy meets forecasts.Key data from March’s wage negotiations will guide decisions.CH50: -0.2% 🔻, reflecting mixed sentiment.
💱 Currencies
Modest dollar weakness; EURUSD stays below 1.0400.The yen is also weakening against major pairs.
🌏 China’s Economic Updates
World Bank estimates 4.9% growth for 2024, with a slowdown to 4.5% in 2025.Lawmakers approve a VAT law, effective 1 January 2026.Upcoming National People’s Congress on 5 March may introduce new economic measures.
🛢️ Commodities
Oil rebounds 📊 on hopes of a Chinese recovery.Brent crude: +0.25%, trading above $73/barrel.Natural gas declines after recent gains, testing $3.5/MMBTU levels.Forecast: Mild weather continues, but a cold snap may hit eastern US from 2 January.Gold shines ✨ with a weaker dollar:Up +0.4%, trading just below $2,630/oz.
💻 Crypto Watch
Bitcoin dips -0.6% 📉, trading below 98,000 this morning.
Stay tuned for more updates! 📊📉✨
Morning Update — 26.12.2024 was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.