Ipek Ozkardeskaya
Swissquote Bank Ltd
Those glued to their screens, hoping for Santa’s arrival, were left disappointed. The major US indices weren’t in good shape yesterday even after a mixed bag of US jobs data. The major US equity indices were softer as Bitcoin gave back Xmas day gains.
In China, equities are better bid since Chinese authorities pledge on Tuesday to sell a record amount of 3 trillion yuan worth of special treasury bonds next year to give support to the economy. In Japan, the Nikkei index surged past the 40’000 mark on the back of a weakening yen as the bears are out and selling the yen since the Bank of Japan (BoJ) bypassed a rate hike earlier this month.
Elsewhere, in the FX, the US dollar index was mostly steady this week. The EURUSD is under pressure on French political uncertainties. Across the Channel, hope that 2025 will bring good health to the UK economy - ideally with improved relations with once-loved and cherished ones - persists, but the path remains shaky.
In energy, the barrel makes an attempt above the 50-DMA, but remains topped by offers before reaching the 100-DMA – which currently stands near the $71.30pb level.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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