Global financial markets witnessed various movements between rise and fall during yesterday's trading, as investors focused on the release of important economic data, as well as the start of the release of corporate earnings reports and economic forecasts.
In the US markets, stocks were mixed as investors awaited upcoming economic data and financial reports. There was particular interest in technology stocks such as Nvidia and Robinhood, which received analyst upgrades. Meanwhile, Bank of America saw analyst support ahead of its January earnings announcement.#Binance
US stocks rose at the opening of trading on Tuesday, led by Nvidia shares, which rose after unveiling new products related to artificial intelligence.
The Dow Jones Industrial Average rose 0.4%, or 162 points, to 42,894 points.
The S&P 500 rose 0.4%, or 22 points, to 5,997, and the Nasdaq Composite rose 0.3%, or 60 points, to 19,928.
In European markets, stock markets were affected by weak economic activity and expectations related to monetary policies in the euro zone, while in Asian markets, some major indices declined due to concerns about slowing economic growth in China and rising geopolitical tensions.
What are the market expectations for US stocks during today?
Markets expect US stocks to continue rising on Wednesday, amid anticipation of the release of important economic data on Friday, in light of the US official holiday tomorrow, Thursday, in mourning for the death of former US President Jimmy Carter.
How did the US dollar benefit from the volatility of other currencies, and what is expected for today?
As for the forex markets, currencies saw mixed movements, as the US dollar continued to benefit from the positive outlook for the US economy and the Federal Reserve's dovish monetary policies.
The dollar rose against major currencies, recording 108.1 points, amid anticipation of important economic data in the coming days.
On the other hand, European currencies were affected by economic pressures in the euro zone, as the euro fell slightly against the dollar due to fears of slowing growth and rising inflation.
The pound also saw volatility amid concerns over the effects of UK economic policies.
As for Asian markets, the Japanese yen continued to be pressured against the dollar as the effects of weak monetary policies from the Bank of Japan continued.
Experts' predictions about currency movements during the day
The market is expected to witness more volatility on Wednesday, as important economic data is awaited, such as the US inflation report, which may affect the Federal Reserve interest rate expectations.
Investors will also be following developments in the economic situation in China and its impact on Asian currencies.
The dollar may continue to hold firm if US data comes in positive, while European currencies will remain under pressure if concerns about slowing growth in the eurozone persist.
How did the rise in global demand for oil and the issuance of the OPEC report affect crude prices?
In commodity markets, oil prices saw some volatility as they rose slightly, supported by expectations of higher global energy demand in the first half of the year.
Brent crude futures rose $0.71, or 0.93 percent, to $77.22 a barrel.
February futures for West Texas Intermediate crude on the New York Mercantile Exchange rose $0.7, or 0.96 percent, to $73.91 a barrel.
Moreover, the markets were also affected after the OPEC report showed a significant decline last month, with the UAE being the main factor behind most of these cuts, as it intensified its efforts to reduce supply in an attempt to support the stability of global oil markets.
The report also showed that total production fell by 120,000 barrels per day to 27.05 million barrels per day. Despite some slight increases in production from Libya and Nigeria, these gains were offset by parallel cuts in production from Kuwait and Iran, which contributed to reducing the overall total production.
Why is gold continuing to rise during this period?
In precious metals markets, gold extended its gains after benefiting from increased demand for safe havens amid global economic concerns. With the dollar slightly weaker, gold saw its value increase, while silver remained under pressure amid fluctuating industrial demand.
Gold rose during yesterday's trading by about 0.17%, or $4.9, to $2652.30 per ounce, and the spot delivery price rose by 0.31% to $2643.51 per ounce.
Commodity markets are expected to continue to react to developments in global demand and supply, with a focus on any signals from China regarding economic stimulus policy.
Experts also expect oil prices to see further movement based on developments in US inventories or any geopolitical developments. As for gold, it is expected to continue to benefit from the weak dollar and economic concerns.
After Bitcoin broke the $100,000 barrier, what happened to the other major cryptocurrencies?
On the other hand, the digital currency market witnessed some fluctuations during yesterday's trading, with noticeable movements in the price of Bitcoin and Ethereum.
Bitcoin rose to break the $100,490 barrier, benefiting from general optimism about the possibility of market stability after significant volatility in recent days.
Ethereum also rose by 0.10% today to $3,676, while Binance Coin rose by 2.25% to $728.
Dogecoin price increased by 1.00% to reach $0.391474.$BTC