2025 Market Outlook: Key January Events to Watch 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
Stock Futures Dip as Investors Await Key Payrolls Data 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
Wall Street Analysts Weigh in on Latest NFP Data 
Moldova Criticizes Russia Amid Transdniestria Energy Crisis 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
FxWirePro: Forex Daily Update
The US dollar index trades flat ahead of U ISM services PMI. "I need to see more progress to feel fully confident that inflation is on a sure path to average 2 percent over time. Only when I gain that confidence will I feel the time is right to begin lowering the federal funds rate to dial back restrictive monetary policy," Atlanta Fed President Bostic said.
According to the CME Fed watch tool, the probability of a no-rate cut in Mar decreased to 97% from 98% a week ago.
The US 10-year yields declined more than 4% after hitting a multi-month high. The US 10 and 2-year spread narrowed to -35.8% from -53%.
Major resistance- 104.25/105
Major support- 103/102.
Economic data for the day
Mar 5th, 2024, US ISM services PMI (3 pm GMT)
EURUSD-
EURUSD showed a minor pullback on board-based US dollar selling. Europe's Sentix Investors confidence for Mar rose to -10.50 compared to a forecast of -10.80.
Major resistance-1.0880,1.0935
Major support- 1.0760,1.0700
Yen-
The pair showed a minor dip after strong Japanese inflation data. The policy divergence between the US Fed and BOJ supports the pair at lower levels. Any break above 151 confirms minor bullishness.
Major Resistance- 151,152
Major support- 148,146.50
Canadian Dollar
The pair gained slightly on easing crude oil prices. Markets eye Bank of Canada monetary policy and employment data for further movement.
Resistance- 1.3600,1.3660
Major support- 1.3500,1.3435
