Ian Reynolds
Overnight
Market reaction function is muted as the Trump euphoria is beginning to wane. Equity markets rose but Gold and Bitcoin fell in line with lower bond prices and higher USD. Netflix earnings and the Trump AI deal helped sentiment.
Meanwhile in Europe
From the FT at Davos.
Canada IPPI December 2024
Just released Japanese Trade Balance for December shows renewed buying of foreign bonds.
Japanese Trade Balance December 2024
Breaking
China unveils plan to encourage insurance funds into stock markets [Reuters]
China orders pay cap at state-owned financial firms, sources say [Yahoo Finance!]
Trump threatens Russia, others with tariffs if Ukraine deal not reached [Reuters]
Crypto
Bitcoin moves lower within the megaphone pattern.
BTC / USD Daily
BlackRock CEO Fink predicts Bitcoin could rise to $700,000 [investing.com]
Equities
S&P500 hits a new all time high
S&P 500 Daily
Foreign Exchange
The USD has starting to move back to the scene of the crime at 109.25
DXY Daily
Bonds
Bond yields beginning to tick back up again
US 10 Year Government Bond Yield Daily
Precious Metals
Gold approaches the middle of the parallel channel
GOLD / USD Daily
Interesting
In Canada the Canada Raw Materials Price Index (RMPI) showed a huge surge although IPPI was less than expected month on month.
Definitely a potential trend to be following.
Canada Raw Materials Price Index (RMPI) YoY
