U.S. GDP growth exceeded expectations, leading to a rise in the U.S. dollar yesterday

The U.S. stock market also experienced gains, with inflation showing signs of cooling down

On Thursday, due to U.S. economic growth in the fourth quarter significantly surpassing expectations, it suggested that the Federal Reserve might be less eager to cut interest rates. The U.S. Dollar Index saw a substantial rise during the U.S. trading session, at one point reaching an intraday high of 103.68, and ultimately closing up 0.23% at 103.48. The yield on the 10-year U.S. Treasury note nearly approached the 4.2% mark at one point but then reversed, closing at 4.120%. The yield on the 2-year U.S. Treasury note, more sensitive to Federal Reserve policy rates, closed at 4.299%.

On Thursday (January 25th), Wall Street traders pushed the stock market to new historical highs, speculating that the Federal Reserve might be able to achieve a soft landing, as the U.S. economy remains quite resilient and inflation shows signs of cooling.

International crude oil prices rose over 2% due to ongoing tensions in the Red Sea continuing to disrupt global trade. WTI crude surged during the day, ultimately closing up 2.3% at $77.04 per barrel; Brent crude solidified its position above the $80 mark, finally closing up 2.43% at $82.18 per barrel.