Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
China's Refining Industry Faces Major Shakeup Amid Challenges 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Urban studies: Doing research when every city is different 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Stock Futures Dip as Investors Await Key Payrolls Data 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Geopolitical Shocks That Could Reshape Financial Markets in 2025 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
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 
US Gas Market Poised for Supercycle: Bernstein Analysts 
The US dollar index showed a minor sell-off amid mixed US housing data. Housing starts in the US rose 14.80% in Nov to 1.56 million and single-family housing starts surged 18% highest level since May 2022. US building permits declined 2.5% from the revised Oct rate of 1498000.
According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Jan increased to 10.3% from 4.0% a week ago.
The US 10-year yield is trading weak for the 8th consecutive week as the Fed prepares for a rate cut. The US 10 and 2-year spread narrowed to --51% from -39%.
Major resistance- 102.65/103.20
Major support- 101.70/101.
EURUSD-
EURUSD showed a minor pullback after hitting a low of 1.0884. Eurozone CPI came at 2.4% yoy in Nov, down from Oct 2.9% yoy. Investors eye German PPI for further direction.
Major resistance- 1.0965,1.1020
Major support- 1.08600,1.0800
Yen-
USDJPY pared some of its gains despite the dovish BOJ policy stance. The central bank kept its rates and forward guidance unchanged.
Major Resistance- 144,145
Major support- 143,142.20
Pound sterling
The pound sterling is trading flat ahead of UK CPI. Any weak inflation data will push GBP prices further lower.
Major Resistance- 1.2765,1.2800
Major support- 1.2650,1.2600
Economic calendar -
Dec 20th, 2023, UK CPI y/y (7 am GMT)
US CB confidence (3 pm GMT)
