Ian Reynolds
Overnight
Japan GDP Q4 2024
Much stronger Japanese GDP following higher than expected PPI last week continues to strengthen the YEN.
Meanwhile much speculation about whether the Trump Administration is going to revalue Gold and whether the US actually has the Gold it says it has. Revaluation would mean Treasury, FED and Congress working together to execute. Sounds like obviously they will but history suggests that's not the case. See
Elsewhere policy is changing rapidly:
Saudi Arabia will host the U.S. - Russia talks over Ukraine starting Tuesday, with Europe and Ukraine maybe getting a look-in once the power brokers have framed things;
The U.S. has removed opposition to Taiwanese independence from its official website in tweaked language - which raises tensions in Asia too as the U.S. pivots that way and Taiwan pivots to raising its defence budget to 3% of GDP.
Breaking
Precious Metals
Gold bouncing back a bit after massive smash on Friday afternoon. Maybe intervention or maybe not, only thing that matters is are the withdrawals from London continuing, and if they are, are COMEX futures being stood up for delivery?
Gold / USD Daily
Equities
Stock markets slightly positive ahead of holidays in the US and Canada
US Equity Futures
Foreign Exchange
YEN stronger for economic reasons and USD weaker for geopolitical reasons seems to be a one way trade for now.
USD / YEN Daily
Bonds
Bond yields falling in tandem with the USD
US 10 Year Government Bond Yield Daily
Bitcoin
BTC continues to show it's a store of value
Bitcoin / USD
Interesting
German Industry Risks New Setback From Power Pricing Overhaul [Bloomberg]
China's central bank governor says stable yuan key to global financial stability [Reuters]
Economic Indicators Today
