Nasdaq (NAS100) looks to turn prices around
The Nasdaq (NAS100) looks to kick off the year on a positive note as traders await another boom in tech stocks. Indices have gotten off to a slow start so far, with a sell-off across the board and most of the top earners losing their record highs. Yet history suggests the market likely has further to climb as AI-empowered stocks look to rise under a new Trump administration. In addition, an improved appetite for riskier equities would mirror a sustained drop in Treasury yields, lifting the tech-heavy index towards its all-time high above 22000. 20800 is the closest support.
EURUSD primed for parity
It’s been a quarter to remember for the greenback, as the pair is nearing completion of its most bearish quarter. The big question now is whether the trend can continue to allow for another parity test this year. Traders will be looking towards the next rate cut, and assertive guidance by the Fed this week could push the exchange rate to break 1.0300 with 1.0480 as the first resistance.
XAUUSD looking for direction
The precious metal hovers above $2600 as the greenback remains defiant in the bullish race. The outlook of gold appears to be uncertain as the Fed is expected to cut interest rates fewer times in 2025. The market will look for confirmation in the next set of labour data, and a softer reading could trigger a pullback of the dollar, which in turn could propel gold to its next psychological level of 2700. 2585 is a fresh support if there is a dip below 2600.
