S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
Wall Street Analysts Weigh in on Latest NFP Data 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
US Gas Market Poised for Supercycle: Bernstein Analysts 
Stock Futures Dip as Investors Await Key Payrolls Data 
Urban studies: Doing research when every city is different 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
China's Refining Industry Faces Major Shakeup Amid Challenges 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
The US dollar index lost its shine ahead of the US NFP data. The US economy is expected to add 198000 jobs in February. The unemployment rate to be steady at 3.7%. It hit a low of 102.72 and is currently trading around 102.82.
The number of people who have filed for unemployment benefits came steady at 21700 in early Mar, compared to a forecast of 217000.
According to the CME Fed watch tool, the probability of a no-rate cut in Mar decreased to 95% from 96% a week ago.
The US 10-year yields declined more than 6% in hopes of an early rate cut. The US 10 and 2-year spread narrowed to -41.40% from -53%.
Major resistance- 104.25/105
Major support- 103/102.
Economic data for the day
Mar 8th, 2024, US Non-farm payroll (1:30 pm GMT)
EURUSD-
EURUSD jumped more than 1.0950 after the ECB monetary policy. The central bank has kept its rates unchanged as expected. It hints at a rate cut in June on easing inflation data.
Major resistance-1.09500,1.100
Major support- 1.0850,1.0760
Yen-
The yen lost its momentum and hit a fresh five-week low ahead of US NFP. Any break below 148 confirms minor bearishness.
Major Resistance- 150,151
Major support- 148,146.50
Canadian Dollar
The Canadian dollar showed a minor jump ahead of Canadian employment data. Canadian building permits surged 14% over a month to $10.8 billion in Jan 2024.
Resistance- 1.3480,1.3550
Major support- 1.3435,1.3380
