Daily summary: Bitcoin falls below $94K driving crypto pessimism, precious metals and energy commodities in the green (09.01.2024)

11:07 PM 9 January 2025
  • NYSE and Nasdaq were closed today due to the commemoration of the death of former U.S. President Jimmy Carter.
  • European markets ended today's session with mixed optimism. The best-performing index was the UK's FTSE 100 (+0.8%). Moderate gains were recorded by France's CAC40 (+0.5%), Switzerland's SMI (+0.4%), and Italy's FTSE MIB (+0.6%). The broad STOXX Europe 600 index rose by 0.4%. The only major European index that ended the session with a slight decline was Germany's DAX, losing nearly 0.1%.
  • U.S. 10-year Treasury bonds yields gave up some of its yesterday's gains, standing at approximately 4.685%. German 10-year bond yields rose to 2.567%, while Japanese yields increased by 0.45%, reaching 1.184%.
  • Fed's Michelle Bowman referred to the December interest rate cut as the "last" within the ongoing monetary easing that began in September. According to Bowman, inflation risks remain elevated.
  • On the forex market, among the G10 currencies, the Norwegian krone and Japanese yen are the best performers, rising by about 0.2%. The weakest sentiment was observed for the British pound, which fell by nearly 0.5%, and the Australian dollar, which depreciated by 0.3%.
  • Eurozone retail sales growth was weaker than expected. Year-on-year sales increased by 1.2% (forecast: 1.7%, previous: 1.9%), while month-on-month growth was 0.1% (forecast: 0.3%, previous: -0.5%).
  • Industrial production in Germany rebounded significantly in December, rising by 1.5% month-on-month, compared to the expected 0.5% (previous: -1%).
  • Cryptocurrencies are retreating today: Bitcoin is down (-2.4%), Ethereum (-2.1%), Dogecoin (-6%), Chainlink (-3.9%), and Solana (-4.45%).
  • On the commodities market, cocoa saw significant declines, falling over 2%, continuing its downward trend since the beginning of this year. Coffee contracts also posted losses, down 0.7%.
  • Energy commodities ended the day in positive territory: WTI oil gained 1%, Brent crude rose by 1.1%, and natural gas increased by 2.5%.
  • For precious metals, today's session was relatively calm. Gold continued its upward trend, rising by 0.3%, breaking above the $2,670 level. Silver remained slightly above its last closing price, palladium contracts gained 0.5%, and platinum rose by over 0.7%.

The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.

Share:
Back

Join over 1 600 000 investors from around the world