Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
Stock Futures Dip as Investors Await Key Payrolls Data 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
2025 Market Outlook: Key January Events to Watch 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
The US dollar index gained strength after the FOMC meeting minutes. It hit a high of 104.96 and is currently trading around 104.85.
The Fed minutes showed that future policy action would depend on incoming data, evolving outlook, and balance of risks. The committee members said that “the recent increases in inflation had been relatively broad-based and therefore should not be overly discounted.”
According to the CME Fed watch tool, the probability of a no-rate cut in June decreased to 95.90% from 96.7% a week ago.
Major resistance- 105/106.50
Major support- 104/103
Economic data for the day
US Flash Manufacturing and Services PMI (1:45 pm GMT)
US new home sales (2 pm GMT)
EURUSD-
EURUSD pared some of its gains after hawkish Fed commentary. It hit a low of 1.08174 yesterday and is currently trading around 1.08299.
The policy divergence between the Fed and the ECB puts pressure on the pair at higher levels.
Economic data for the day
German flash manufacturing and services PMI (7:30 am GMT)
Major resistance-1.0900,1.100
Major support- 1.0800,1.0720
Yen-
The pair declined slightly after the upbeat Japanese PMI data. The flash manufacturing PMI climbed to 50.50 in May compared to a forecast of 49.70. Any break above 157 confirms further bullishness.
Major Resistance- 157,158
Major support- 154.50,153.40
Canadian Dollar
The Canadian dollar lost momentum on weak crude oil prices. Any break above 1.3700 confirms further bullishness.
Resistance- 1.3700,1.3765
Major support- 1.3580,1.3535
