The US dollar index is consolidating after a nice pullback. The index gained momentum. after upbeat US CPI. The annualized CPI came in at 3.1% above expectations of 2.9%. It hit a high of 104.63 yesterday and is currently trading around 104.70.
According to the CME Fed watch tool, the probability of a no-rate cut in Mar increased to 89.5% from 81% a week ago.
The US 10-year yields pared some of its gains due to profit booking. The US 10 and 2-year spread narrowed to -32.8% from -53%.
Major resistance- 105/106
Major support- 104.50/103.80.
EURUSD-
EURUSD halted its bearish trend on steady Eurozone GDP. It came unchanged at 0% for the fourth quarter, and annualized GDP shows a minor jump of 0.10%.
Major resistance-1.0760,1.0800
Major support- 1.070,1.06600
Yen-
The pair traded flat ahead of US retail sales data. Any break above 152 confirms further bullishness.
Major Resistance- 151,152
Major support- 148,146.50
Canadian Dollar
The Canadian dollar showed a minor uptick ahead of manufacturing sales. The sell-off in crude oil prices supports the Canadian dollar at lower levels.
Resistance- 1.3600,1.3660
Major support- 1.3530,1.3480


China’s Growth Faces Structural Challenges Amid Doubts Over Data
Bank of America Posts Strong Q4 2024 Results, Shares Rise
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
2025 Market Outlook: Key January Events to Watch
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
Urban studies: Doing research when every city is different
European Stocks Rally on Chinese Growth and Mining Merger Speculation
Energy Sector Outlook 2025: AI's Role and Market Dynamics
Moldova Criticizes Russia Amid Transdniestria Energy Crisis
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
China's Refining Industry Faces Major Shakeup Amid Challenges
Stock Futures Dip as Investors Await Key Payrolls Data 



