Moldova Criticizes Russia Amid Transdniestria Energy Crisis 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
US dollar index-
The US dollar index lost its shine after dovish Fed monetary policy. It has kept its rates unchanged for the third straight meeting. The central bank said that the economy "has slowed down " since Q3 2023. Fed dot plot shows that there will 3 rate cuts in 2024 (0.75%). According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Mar increased to 69.90% from 39.7% a day ago.
The US 10-year yield declined more than 5% after the dovish Fed policy. The US 10 and 2-year spread narrowed to -38% from -52%.
Major resistance- 103.20,104.25
Major support- 102.40/101.
EURUSD-
EURUSD is trading above 1.0900 as the Fed indicates a 0.75% rate cut in 2024. Markets eye ECB policy meeting today for further movement. Analysts predict European Central will cut rates by 150 basis points next year.
Major resistance- 1.0930,1.1000
Major support- 1.0865,1.0800
Yen-
The Japanese Yen hits a fresh multi-month low on board-based US dollar weakness.
Major Resistance- 142.25,143
Major support- 140.80,140
Pound sterling
The pound sterling jumped above 1.26500 on a dovish Fed rate pause. Investors eye the Bank of England monetary policy meeting for further upside.
Major Resistance- 1.2700,1.2760
Major support- 1.2600,1.25400
Economic calendar -
Dec 14th, 2023, SNB monetary policy (8:30 am GMT)
BOE monetary policy summary (noon GMT)
ECB monetary policy (1:15 pm GMT)
US retail sales (1:30 pm GMT)
