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Daily Market Update by Monex USA – January 7th, 2025

Market Pulse by Monex USA
Market Pulse by Monex USA
Daily Market Update by Monex USA - January 7th, 2025
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The U.S. Dollar is trading in mixed ranges as markets react to geopolitical developments, including Venezuela’s oil transfer to the U.S. and the U.S. announcement to negotiate a Greenland purchase. Private employment data fell short of expectations, hinting at a slower labor market rebound, with key reports like ISM Services and Durable Goods due later today. Oil prices are down, and gold and silver have lost momentum. Globally, the Euro weakened after soft CPI data, raising the possibility of an ECB rate cut, while the Australian Dollar dipped as inflation data reduced the likelihood of a February rate hike. Key focus this week is on Friday’s U.S. Nonfarm Payrolls report.

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