Morning wrap (30.12.2024)

06:37 30 December 2024
  • Indices from the Asia-Pacific region are trading with mixed sentiment. Indices from China are trading without significant changes. The Japanese Nikkei 225 index is down 0.44% to 39,900 points, Singapore's SG20cash futures are losing 0.47%, and the Australian AU200.cash is trading 0.16% lower.

  • On the forex market during the first part of the day, the New Zealand and Australian dollars are gaining the most. Increases range from 0.3% to 0.5%. On the other hand, the Japanese yen is among the currencies losing the most. The losses are limited to 0.3% to 0.6%.

  • Activity in Japan's manufacturing sector declined in December at a slower pace. The Jibun Bank Manufacturing PMI came in at 49.6, compared to expectations of 49.5. The decline in the domestic manufacturing sector was slower than in November, when the PMI was 49.0. This reading also marks an improvement from the preliminary figure of 49.4.

  • The President of the People's Bank of China (PBoC), Pan Gongsheng, stated in a statement that the bank's current monetary policy leaves room for additional cuts. At the same time, Gongsheng noted that overly aggressive cuts should be avoided, as the devaluation of the yuan remains a concern. The average reserve requirement ratio for Chinese banks currently stands at around 6.6%.

  • Former U.S. President Jimmy Carter passed away around Sunday afternoon at the age of 100 at his home in Plains. Carter served as President of the United States from January 20, 1977, to January 20, 1981. Typically, the sitting U.S. President declares a National Day of Mourning following the death of a former president, during which most federal workers receive a day off, and stock and bond markets are closed. This usually occurs about 5–7 days after the president’s death, which in this case would fall between January 3–7.

  • The President of Austria’s National Bank and ECB Governing Council member Robert Holzmann suggested in an interview that the European Central Bank might consider delaying the next interest rate cut. He cited factors such as rising energy prices and the potential depreciation of the euro as reasons for the delay.

  • In the cryptocurrency market, a slight rebound is observed after the weekend declines. Most capital is flowing into Ethereum (+1.90%) and altcoins (+1.10%), while Bitcoin gains a mere 0.10% to $93,700.

  • Bitcoin's dominance is dropping today to 57.70%, retreating from 59.90% reached on December 20 during the last correction in the cryptocurrency market.

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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