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Palantir
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AMERICA’S ROUNDUP: DOLLAR GAINS AS MARKETS ABSORB FED'S HAWKISH RATE CUT ,WALL STREET FLAT,GOLD ERASES GAINS ,OIL PRICES FALL.
Market Roundup
•US Continuing Jobless Claims 1,874K, 1,890K forecast, 1,879K previous
•US Core PCE Prices (Q3) 2.20%, 2.10% forecast, 2.80% previous
•US Corporate Profits (QoQ) (Q3) -0.4%, 0.0% forecast, 3.5% previous
•US GDP (QoQ) (Q3) 3.1%, 2.8% forecast, 3.0% previous
•US GDP Price Index (QoQ) (Q3) 1.9%, 1.9% forecast, 2.5% previous
•US GDP Sales (Q3) 3.3%, 3.0% forecast, 1.9% previous
•US Initial Jobless Claims 220K, 229K forecast, 242K previous
•US Jobless Claims 4-Week Avg. 225.50K, 224.25K previous
•US PCE Prices (Q3) 1.5%, 1.5% forecast, 2.5% previous
•US Philadelphia Fed Manufacturing Index (Dec) -16.4 ,2.9 forecast, -5.5 previous
•US Philly Fed Business Conditions (Dec) 30.7, 56.6 previous
•US Philly Fed CAPEX Index (Dec) 18.80, 24.90 previous
•US USD Philly Fed Employment (Dec) 6.6, 8.6 previous
•US USD Philly Fed New Orders (Dec) -4.3 ,8.9 previous
•US USD Philly Fed Prices Paid (Dec) 31.20, 26.60 previous
•US USD Real Consumer Spending (Q3) 3.7%, 3.5% forecast, 2.8% previous
•US Existing Home Sales (Nov) 4.15M, 4.09M forecast, 3.96M previous
•US Existing Home Sales (MoM) (Nov) 4.8%, 3.4% previous
•US US Leading Index (MoM) (Nov) 0.3% ,-0.1% forecast, -0.4% previous
•Japan CPI, n.s.a (MoM) (Nov) 0.4%, 0.6% previous
•Japan National Core CPI (YoY) (Nov) 2.7%, 2.6% forecast, 2.3% previous
•Japan National CPI (YoY) (Nov) 2.9%, 2.3% previous
•Japan National CPI (MoM) (Nov) 0.6%, 0.4% previous
•Australia Housing Credit (Nov) 0.5%, 0.5% previous
•Australia Private Sector Credit (MoM) (Nov) 0.5%, 0.5% forecast, 0.6% previous
•China PBoC Loan Prime Rate (Dec) 3.60%, 3.60% previous
•China PBoC Loan Prime Rate 3.10% ,3.10% previous
Looking Ahead Economic Data (GMT)
•No Data Ahead
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro edged higher against the dollar on Thursday as the dollar gives up some gains after surging on Fed. The economic data aligned with the Federal Reserve's expectations, as weekly initial jobless claims dropped more than anticipated, and the third-quarter gross domestic product was revised to reflect a 3.1% increase, up from the previously reported 2.8% growth.Investors await Friday's release of core PCE data, the Fed's preferred inflation measure, for further clues on the economic outlook. The euro , which tumbled 1.34% on Wednesday, managed to claw back some losses and was last 0.48% higher at $1.0402. Immediate resistance can be seen at 1.0399(38.2%fib), an upside break can trigger rise towards 1.0438(50%fib).On the downside, immediate support is seen at 1.0346(23.6%fib), a break below could take the pair towards 1.0300(Psychological level)
GBP/USD: The pound weakened against the dollar on Thursday after the Bank of England held interest rates steady, though three policymakers voted in favor of a rate cut. The BoE kept its main rate at 4.75%, but Deputy Governor Dave Ramsden, along with external members Swati Dhingra and Alan Taylor, called for a 25 basis point reduction to 4.5%. UK policymakers have remained focused on persistent underlying price pressures, which are still viewed as too strong. Sterling dipped, weakening 0.58% to $1.25. Immediate resistance can be seen at 1.2690(38.2%fib), an upside break can trigger rise towards 1.2731 (Dec 18th high).On the downside, immediate support is seen at 1.2560(23.6%fib), a break below could take the pair towards 1.2524(Lower BB)
USD/CAD: The Canadian dollar slipped against the U.S. dollar on Thursday following a stronger-than-expected U.S. third-quarter GDP report, which showed the economy grew at an annual rate of 3.3%. This figure reinforced the Federal Reserve's cautious, take-it-slow approach to easing. Additionally, a larger-than-expected drop in unemployment insurance claims, which fell to 220,000 last week, further supported this view. Attention is now shifting to the release of the core PCE price data the Fed's preferred inflation gauge on Friday, which could offer further insights into the U.S. economic outlook.. The Canadian dollar sank to its lowest in more than four years at 1.44 per U.S. dollar. Immediate resistance can be seen at 1.4470(23.6% fib), an upside break can trigger rise towards 1.4517 (Higher BB).On the downside, immediate support is seen at 1.4383 (38.2%fib), a break below could take the pair towards 1.4320(50%fib).
USD/JPY: The dollar reached a five-month high against the yen on Thursday after the Bank of Japan (BOJ) decided to keep interest rates unchanged. The BOJ maintained its short-term policy rate at 0.25%, but a dissenting vote from one board member, who advocated for raising borrowing costs, suggested that the central bank may tighten policy early next year. As expected, the nine-member BOJ board voted 8-1 to hold rates steady, signaling a cautious approach amid uncertainties surrounding U.S. President-elect Donald Trump's economic agenda. The BOJ's decision came just hours after the U.S. Federal Reserve cut rates, but indicated a more cautious outlook on future rate cuts. Immediate resistance can be seen at 158.22 (23.6%fib) an upside break can trigger rise towards 158.25 (Higher BB). On the downside, immediate support is seen at 157.00(Psychological level) a break below could take the pair towards 154.98 (38.2%fib).
Equities Recap
European stocks dropped on Thursday with the benchmark STOXX index posting its biggest one-day decline since early November as investors pulled back from riskier assets after the U.S. Federal Reserve indicated it plans to slow the pace of interest rate cuts in the year ahead.
UK's benchmark FTSE 100 closed down by 1.14 percent, Germany's Dax ended down by 1.35 percent, France’s CAC finished the day down by1.22percent.
U.S. stocks finished little changed on Thursday, reversing an early rebound from a sharp decline in the previous session after the Federal Reserve projected fewer interest rate cuts and higher inflation for the year ahead.
Dow Jones closed up by 0.04% percent, S&P 500 closed down by 0.09% percent, Nasdaq settled down by 0.10% percent
Commodities Recap
Gold prices inched higher on Thursday, briefly rising before giving up earlier gains as U.S. data reinforced market expectations that the Federal Reserve will adopt a cautious stance on policy easing in the year ahead.
Spot gold was up 0.4% at $2,598.20 per ounce as of 01:51 p.m. ET (1851 GMT) and U.S. gold futures settled 1.7% lower at $2,608.10.
Oil prices fell on Thursday after central bankers in the U.S. and Europe signaled caution over further easing of monetary policy, fanning concerns that weak economic activity could dent demand for oil next year.
Brent crude futures fell by 51 cents, or 0.7%, to settle at $72.88 a barrel.
U.S. West Texas Intermediate crude futures for January delivery fell 67 cents, or 1%, to $69.91 per barrel and expired on settlement. The more active WTI February contract fell 64 cents to settle at $69.38 per barrel.
•US Continuing Jobless Claims 1,874K, 1,890K forecast, 1,879K previous
•US Core PCE Prices (Q3) 2.20%, 2.10% forecast, 2.80% previous
•US Corporate Profits (QoQ) (Q3) -0.4%, 0.0% forecast, 3.5% previous
•US GDP (QoQ) (Q3) 3.1%, 2.8% forecast, 3.0% previous
•US GDP Price Index (QoQ) (Q3) 1.9%, 1.9% forecast, 2.5% previous
•US GDP Sales (Q3) 3.3%, 3.0% forecast, 1.9% previous
•US Initial Jobless Claims 220K, 229K forecast, 242K previous
•US Jobless Claims 4-Week Avg. 225.50K, 224.25K previous
•US PCE Prices (Q3) 1.5%, 1.5% forecast, 2.5% previous
•US Philadelphia Fed Manufacturing Index (Dec) -16.4 ,2.9 forecast, -5.5 previous
•US Philly Fed Business Conditions (Dec) 30.7, 56.6 previous
•US Philly Fed CAPEX Index (Dec) 18.80, 24.90 previous
•US USD Philly Fed Employment (Dec) 6.6, 8.6 previous
•US USD Philly Fed New Orders (Dec) -4.3 ,8.9 previous
•US USD Philly Fed Prices Paid (Dec) 31.20, 26.60 previous
•US USD Real Consumer Spending (Q3) 3.7%, 3.5% forecast, 2.8% previous
•US Existing Home Sales (Nov) 4.15M, 4.09M forecast, 3.96M previous
•US Existing Home Sales (MoM) (Nov) 4.8%, 3.4% previous
•US US Leading Index (MoM) (Nov) 0.3% ,-0.1% forecast, -0.4% previous
•Japan CPI, n.s.a (MoM) (Nov) 0.4%, 0.6% previous
•Japan National Core CPI (YoY) (Nov) 2.7%, 2.6% forecast, 2.3% previous
•Japan National CPI (YoY) (Nov) 2.9%, 2.3% previous
•Japan National CPI (MoM) (Nov) 0.6%, 0.4% previous
•Australia Housing Credit (Nov) 0.5%, 0.5% previous
•Australia Private Sector Credit (MoM) (Nov) 0.5%, 0.5% forecast, 0.6% previous
•China PBoC Loan Prime Rate (Dec) 3.60%, 3.60% previous
•China PBoC Loan Prime Rate 3.10% ,3.10% previous
Looking Ahead Economic Data (GMT)
•No Data Ahead
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro edged higher against the dollar on Thursday as the dollar gives up some gains after surging on Fed. The economic data aligned with the Federal Reserve's expectations, as weekly initial jobless claims dropped more than anticipated, and the third-quarter gross domestic product was revised to reflect a 3.1% increase, up from the previously reported 2.8% growth.Investors await Friday's release of core PCE data, the Fed's preferred inflation measure, for further clues on the economic outlook. The euro , which tumbled 1.34% on Wednesday, managed to claw back some losses and was last 0.48% higher at $1.0402. Immediate resistance can be seen at 1.0399(38.2%fib), an upside break can trigger rise towards 1.0438(50%fib).On the downside, immediate support is seen at 1.0346(23.6%fib), a break below could take the pair towards 1.0300(Psychological level)
GBP/USD: The pound weakened against the dollar on Thursday after the Bank of England held interest rates steady, though three policymakers voted in favor of a rate cut. The BoE kept its main rate at 4.75%, but Deputy Governor Dave Ramsden, along with external members Swati Dhingra and Alan Taylor, called for a 25 basis point reduction to 4.5%. UK policymakers have remained focused on persistent underlying price pressures, which are still viewed as too strong. Sterling dipped, weakening 0.58% to $1.25. Immediate resistance can be seen at 1.2690(38.2%fib), an upside break can trigger rise towards 1.2731 (Dec 18th high).On the downside, immediate support is seen at 1.2560(23.6%fib), a break below could take the pair towards 1.2524(Lower BB)
USD/CAD: The Canadian dollar slipped against the U.S. dollar on Thursday following a stronger-than-expected U.S. third-quarter GDP report, which showed the economy grew at an annual rate of 3.3%. This figure reinforced the Federal Reserve's cautious, take-it-slow approach to easing. Additionally, a larger-than-expected drop in unemployment insurance claims, which fell to 220,000 last week, further supported this view. Attention is now shifting to the release of the core PCE price data the Fed's preferred inflation gauge on Friday, which could offer further insights into the U.S. economic outlook.. The Canadian dollar sank to its lowest in more than four years at 1.44 per U.S. dollar. Immediate resistance can be seen at 1.4470(23.6% fib), an upside break can trigger rise towards 1.4517 (Higher BB).On the downside, immediate support is seen at 1.4383 (38.2%fib), a break below could take the pair towards 1.4320(50%fib).
USD/JPY: The dollar reached a five-month high against the yen on Thursday after the Bank of Japan (BOJ) decided to keep interest rates unchanged. The BOJ maintained its short-term policy rate at 0.25%, but a dissenting vote from one board member, who advocated for raising borrowing costs, suggested that the central bank may tighten policy early next year. As expected, the nine-member BOJ board voted 8-1 to hold rates steady, signaling a cautious approach amid uncertainties surrounding U.S. President-elect Donald Trump's economic agenda. The BOJ's decision came just hours after the U.S. Federal Reserve cut rates, but indicated a more cautious outlook on future rate cuts. Immediate resistance can be seen at 158.22 (23.6%fib) an upside break can trigger rise towards 158.25 (Higher BB). On the downside, immediate support is seen at 157.00(Psychological level) a break below could take the pair towards 154.98 (38.2%fib).
Equities Recap
European stocks dropped on Thursday with the benchmark STOXX index posting its biggest one-day decline since early November as investors pulled back from riskier assets after the U.S. Federal Reserve indicated it plans to slow the pace of interest rate cuts in the year ahead.
UK's benchmark FTSE 100 closed down by 1.14 percent, Germany's Dax ended down by 1.35 percent, France’s CAC finished the day down by1.22percent.
U.S. stocks finished little changed on Thursday, reversing an early rebound from a sharp decline in the previous session after the Federal Reserve projected fewer interest rate cuts and higher inflation for the year ahead.
Dow Jones closed up by 0.04% percent, S&P 500 closed down by 0.09% percent, Nasdaq settled down by 0.10% percent
Commodities Recap
Gold prices inched higher on Thursday, briefly rising before giving up earlier gains as U.S. data reinforced market expectations that the Federal Reserve will adopt a cautious stance on policy easing in the year ahead.
Spot gold was up 0.4% at $2,598.20 per ounce as of 01:51 p.m. ET (1851 GMT) and U.S. gold futures settled 1.7% lower at $2,608.10.
Oil prices fell on Thursday after central bankers in the U.S. and Europe signaled caution over further easing of monetary policy, fanning concerns that weak economic activity could dent demand for oil next year.
Brent crude futures fell by 51 cents, or 0.7%, to settle at $72.88 a barrel.
U.S. West Texas Intermediate crude futures for January delivery fell 67 cents, or 1%, to $69.91 per barrel and expired on settlement. The more active WTI February contract fell 64 cents to settle at $69.38 per barrel.
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