Dollar Pulls Back, Gold Edges Higher; PPI Data Surprises to the Downside!

TOPONE Markets | 2025-01-15 11:46

Abstract：Hot spot trackingThe U.S. PPI data for December fell short of expectations, but failed to ease inflation concerns. The annual rate was 3.3%, lower than the expected 3.4%. But it is higher than the pre

Hot spot tracking

The U.S. PPI data for December fell short of expectations, but failed to ease inflation concerns. The annual rate was 3.3%, lower than the expected 3.4%. But it is higher than the previous value of 3%, setting a new high since February 2023. This news is bearish for the US dollar.

The U.S. NFIB Small Business Confidence Index in December was 105.1, the highest since October 2018. This news is bullish for the US dollar.

EIA Short-Term Energy Outlook report: Oil prices are expected to be under pressure due to oversupply in 2025 and 2026. This news is bearish for crude oil.

Product Hot Comment

Forex
ProductYesterday's ChangeYesterday's CloseToday's OpenEUR/USD▲0.48%1.030781.03063GBP/USD▼-0.16%1.221571.22138AUD/USD▲0.09%0.61970.61962USD/JPY▲0.41%157.987157.955GBP/CAD▼-0.22%1.752631.75204NZD/CAD▲0.09%0.80390.80383
📝 Review:On Tuesday, the U.S. dollar index hovered near its highest level in more than two years. However, as the PPI data was unexpectedly lower than expected, the US dollar index fell, but still stood above the 109 mark. It finally closed down 0.4% at 109.18. The benchmark 10-year Treasury yield closed at 4.793%; the two-year Treasury yield closed at 4.384%.
🕵️ Operation suggestion:USD/JPY 157.933 Buy Target Price 158.860

Gold
ProductYesterday's ChangeYesterday's CloseToday's OpenGold▲0.52%2677.462675.18Silver▲0.91%29.88529.88
📝 Review:Boosted by the data, spot gold rebounded and returned above the $2,670 mark. It finally closed up 0.5% at $2,677 per ounce. Spot silver finally closed up 0.93% at $29.88 per ounce.
🕵️ Operation suggestion:Gold 2673.37 Buy Target Price 2696.21

Crude Oil
ProductYesterday's ChangeYesterday's CloseToday's OpenWTI Crude Oil▼-0.50%76.93976.929Brent Crude Oil▼-0.54%79.72279.719
📝 Review:Despite the pullback, crude oil is still hovering near a four-month high. WTI crude oil fell to an intraday low of $76.26 during the session. But it recovered some of its losses in the late trading and finally closed down 0.49% at $76.93 per barrel; Brent crude oil hovered around the $80 mark and finally closed down 0.54% at $79.72 per barrel.
🕵️ Operation suggestion:WTI Crude Oil 76.748 Buy Target Price 77.820

Indice
ProductYesterday's ChangeYesterday's CloseToday's OpenNasdaq 100▼-0.32%20761.1220741.1Dow Jones▲0.49%42480.742470S&P 500▼-0.01%5851.855846.85US Dollar Index▼-0.38%109.07109.13
📝 Review:The three major U.S. stock indices rose and fell at different rates. The Dow Jones Industrial Average closed up 0.52%, the S&P 500 rose 0.11%, and the Nasdaq fell 0.23%. Tesla (TSLA.O) and Nvidia (NVDA.O) both fell more than 1%, while Meta Platforms (META.O) fell 2.3%. The Nasdaq China Golden Dragon Index closed up 2.1%, Xpeng Motors (XPEV.N) rose nearly 7%, Alibaba (BABA.N) rose more than 1%, and JD.com (JD.O) rose 4%.
🕵️ Operation suggestion:Nasdaq 100 20740.330 Sell Target Price 20497.514

Crypto
ProductYesterday's ChangeYesterday's CloseToday's OpenBitCoin▲2.14%96364.496628.5Ethereum▲2.64%3212.43233.2Dogecoin▲5.58%0.356250.35773
📝 Review:After the release of non-farm data on Friday night, the Bitcoin market showed a trend of repeated reversals. However, during the weekend, the overall price still fluctuated slightly around 94,300 points. However, today, the market first hit a new high in 30 minutes, but then fell all the way and fell below 93,000 points. This is undoubtedly a relatively obvious signal of weakness.
🕵️ Operation suggestion:BitCoin 96769.0 Sell Target Price 91932.8