Morning wrap (08.01.2025)

9:29 am 8 January 2025

  • Asia-Pacific indices trade in moderate sentiment despite yesterday's sell-off in the U.S. markets and cryptocurrencies. Chinese indices show no clear direction today: CHN.cash and HK.cash are down 0.40%, while CH50cash gains 0.15%.

  • The Japanese stock market shows slight growth, with the JP225 index rising 0.50% to 40,000 points. Singapore's SG20cash index gains 1.50%, while Australia's AU200cash slips 0.15%.

  • European index futures also point to a higher opening for the cash session. Germany's DAX index gains 0.10%, the UK's UK100 is up 0.15%, and the European EU50 rises 0.15%.

  • On the forex market, movements are limited in the first part of the day. The USD sees a minor 0.10% pullback after yesterday's sharp gains. The Japanese yen is losing even more, dropping between 0.2-0.3%. The USDJPY pair is up 0.05% to 158.0000. Among gainers, the Canadian dollar stands out, appreciating around 0.1-0.3% against other currencies.

  • The key release today will be the ADP report on the U.S. labor market.

  • Japan's seasonally adjusted Consumer Confidence Index for December came in at 36.2, slightly below the previous month's 36.4 and missing analysts' expectations.

  • Australia's monthly inflation rate rose to 2.3% in November (previously 2.1%), slightly above the expected 2.2%. Despite the marginally higher reading, inflation in Australia remains at the upper boundary of the Reserve Bank of Australia's (RBA) target range, sustaining hopes for a rate cut as early as February.

  • The U.S. Department of Defense announced yesterday that it has added Chinese tech giant Tencent Holdings and battery producer CATL to its list of companies it claims are collaborating with China's military. This move may escalate U.S.-China tensions further.

  • WTI crude oil continues to recover, gaining 0.40% today to $74.75 per barrel.

  • In the cryptocurrency market, weak sentiment persists. Yesterday's selloff was triggered by better-than-expected ISM data from the U.S., particularly the record-high price subindex. As a result, the cryptocurrency market experienced cascading liquidations of long positions, which were dominant due to Bitcoin breaking above the $100,000 threshold again.

The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world.