4 weeks ago, Joanne was a guest on the show and talked about why she felt the market was headed for higher highs. Well, the markets have had a nice run since then! We talk to Joanne again to see if her opinion about market direction has changed, or if it’s still bullish. Merlin and Joanne also take a look at several listener questions including: WPZ, HOT, and the divergence between the Russell2000 and the Dow 30.
Editors’ Picks
EUR/USD stabilizes near 1.0400 after upbeat US data
EUR/USD consolidates daily recovery gains near 1.0400 following the release of upbeat United States data. Q3 GDP was upwardly revised to 3.1% from 2.8% previously, while weekly unemployment claims improved to 220K in the week ending December 13.
GBP/USD drops toward 1.2550 after BoE rate decision
GBP/USD stays on the back foot and declines toward 1.2550 following the Bank of England (BoE) monetary policy decisions. The BoE maintained the bank rate at 4.75% as expected, but the accompanying statement leaned to dovish, while three out of nine MPC members opted for a cut.
USD/JPY tests one-month highs above 157.00 after a dovish BoJ
The USD rallied beyond 2% after the Fed and the BoJ's decisions to hit levels right above 157.00. The Bank of Japan left interest rates at 0.25% and conditioned further tightening to the evolution of wage negotiations. Monetary policy divergence between the US and the Japanese Central banks is weighing on the Yen.
Editors’ Picks
EUR/USD stabilizes near 1.0400 after upbeat US data
EUR/USD consolidates daily recovery gains near 1.0400 following the release of upbeat United States data. Q3 GDP was upwardly revised to 3.1% from 2.8% previously, while weekly unemployment claims improved to 220K in the week ending December 13.
GBP/USD drops toward 1.2550 after BoE rate decision
GBP/USD stays on the back foot and declines toward 1.2550 following the Bank of England (BoE) monetary policy decisions. The BoE maintained the bank rate at 4.75% as expected, but the accompanying statement leaned to dovish, while three out of nine MPC members opted for a cut.
Gold approaches recent lows around $2,580
Gold resumes its decline after the early advance and trades below $2,600 early in the American session. Stronger than anticipated US data and recent central banks' outcomes fuel demand for the US Dollar. XAU/USD nears its weekly low at $2,582.93.
Bitcoin slightly recovers after sharp sell-off following Fed rate cut decision
Bitcoin (BTC) recovers slightly, trading around $102,000 on Thursday after dropping 5.5% the previous day. Whales, corporations, and institutional investors saw an opportunity to take advantage of the recent dips and added more BTC to their holdings.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
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