Daily summary: Bitcoin falls below $94K driving crypto pessimism, precious metals and energy commodities in the green (09.01.2024)

7:07 PM 9 January 2025
  • NYSE and Nasdaq were closed today due to the commemoration of the death of former U.S. President Jimmy Carter.
  • European markets ended today's session with mixed optimism. The best-performing index was the UK's FTSE 100 (+0.8%). Moderate gains were recorded by France's CAC40 (+0.5%), Switzerland's SMI (+0.4%), and Italy's FTSE MIB (+0.6%). The broad STOXX Europe 600 index rose by 0.4%. The only major European index that ended the session with a slight decline was Germany's DAX, losing nearly 0.1%.
  • U.S. 10-year Treasury bonds yields gave up some of its yesterday's gains, standing at approximately 4.685%. German 10-year bond yields rose to 2.567%, while Japanese yields increased by 0.45%, reaching 1.184%.
  • Fed's Michelle Bowman referred to the December interest rate cut as the "last" within the ongoing monetary easing that began in September. According to Bowman, inflation risks remain elevated.
  • On the forex market, among the G10 currencies, the Norwegian krone and Japanese yen are the best performers, rising by about 0.2%. The weakest sentiment was observed for the British pound, which fell by nearly 0.5%, and the Australian dollar, which depreciated by 0.3%.
  • Eurozone retail sales growth was weaker than expected. Year-on-year sales increased by 1.2% (forecast: 1.7%, previous: 1.9%), while month-on-month growth was 0.1% (forecast: 0.3%, previous: -0.5%).
  • Industrial production in Germany rebounded significantly in December, rising by 1.5% month-on-month, compared to the expected 0.5% (previous: -1%).
  • Cryptocurrencies are retreating today: Bitcoin is down (-2.4%), Ethereum (-2.1%), Dogecoin (-6%), Chainlink (-3.9%), and Solana (-4.45%).
  • On the commodities market, cocoa saw significant declines, falling over 2%, continuing its downward trend since the beginning of this year. Coffee contracts also posted losses, down 0.7%.
  • Energy commodities ended the day in positive territory: WTI oil gained 1%, Brent crude rose by 1.1%, and natural gas increased by 2.5%.
  • For precious metals, today's session was relatively calm. Gold continued its upward trend, rising by 0.3%, breaking above the $2,670 level. Silver remained slightly above its last closing price, palladium contracts gained 0.5%, and platinum rose by over 0.7%.
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