-
The Asia-Pacific session is unfolding in moderate spirits following Tuesday’s sharp sell-off in the US. Moves across indices are limited to gains in the 0.20–1.10% range. Chinese indices are up between 0.20% and 0.40%, while Japan’s JP225 is leading gains, up as much as 1.10%.
-
Gold is rising 2.50% to another record high around USD 4,880 per ounce. Year-to-date, gold is up 13%, and a large part of the gains forecast by banks for 2026 may already be realized in the first month of the year.
-
Netflix slightly beat expectations in Q4: EPS came in at USD 0.56 (vs. 0.55), revenues reached USD 12.05bn (vs. 11.97bn), and free cash flow was notably stronger at USD 1.87bn (vs. 1.46bn). However, guidance for 1Q is mixed: revenue of USD 12.16bn is broadly in line with consensus, but operating profit guidance (USD 3.91bn) and the operating margin (32.1%) are below expectations. Netflix shares fell 5.40% in after-hours trading.
-
Barclays notes that while the dollar has weakened in the short term, the euro could be more vulnerable to declines in the event of a serious escalation in the US–EU conflict. Highly export-oriented economies, such as Germany, are seen as the most exposed to a trade escalation.
-
Goldman forecasts around an 11% return for global equities over the next 12 months, driven mainly by earnings growth rather than valuation expansion. The US500 is down 1.10% year-to-date.
-
US equities recorded their worst session since October, with the US500 down more than 2.00% and the US100 falling as much as 2.40%. The VIX volatility index surged toward 21 points and has eased back to around 19.85 points today.
-
Trump’s speech in Davos and talks with European leaders create room for tactical de-escalation. Historically, sharp market sell-offs often put pressure on US administrations to soften their rhetoric (the so-called “TACO” effect).
-
Japanese government bonds (JGBs) edged higher after a strong sell-off earlier in the week.
-
Currency moves are generally limited, with most major pairs trading in narrow ranges.
-
New Zealand Prime Minister Christopher Luxon announced parliamentary elections for 7 November. The news, however, did not trigger any significant market reaction.
Economic calendar: Trump’s speech in Davos and Wall Street earnings 🔎
BREAKING: EURUSD surges 0.7% amid improving ZEW sentiments📈
Economic calendar: Germany ZEW, US ADP and US Supreme Court ruling on tariffs
Mixed labor data from UK📌Germany PPI falls stronger than expected
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.
