Morning Update (14.01.2025)
š Positive sentiment returns in Asia
Tuesdayās Asian session shows improved sentiment after Mondayās stock market jitters. The CHN.cash index is up by an impressive 2.5% today! While detailed updates from China are scarce, Wall Streetās technical performance is boosting AsianĀ markets.
š Key support levels defended in the US
The US100 index closed above its 100-day EMA yesterday, reinforcing the medium-term uptrend. Similarly, the US500 and US2000 indices held their 100-day and 200-day EMAs, respectively, highlighting strong support fromĀ buyers.
šµ US Dollar rally slows
The USD eased its gains following news that Trumpās economic team is considering gradual tariff increases, phasing them in by 2%-5% per month. This approach aims to strengthen Trumpās negotiating position without triggering sharp inflation spikes.
š¹ FX market action
The Japanese yen is underperforming despite the BoJās Himino stating that the central bank will discuss a potential rate hike during its January 23/24 meeting, factoring in updated growth and inflation projections.
š Todayās economic highlights
US PPI data is in focus.
Fed speeches by Williams and Schmid may provide market insights.
š° Bitcoin bounce back
Bitcoin is recovering, trading above $94,500 after dropping below $90,000 yesterday with a 5% slide.Ā š
š¢ļø Commodities update
NATGAS: ā¬ļø ~2%
WTI crude oil: ā¬ļø ~0.4%
Gold: ā¬ļø ~0.2%
š Stay tuned for more updates and have a great trading day!Ā š
Morning Update (14.01.2025) was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.