Market update - January 9th
from The Trading Pair Hosted by Jayanjan Mukherjee
Hello and welcome to your quick market update for Thursday, January 9th! In the U.S., consumer credit fell by $7.5 billion, a surprising drop that signals weaker borrowing activity. Over in Europe, Germany’s industrial production surged by 1.5%, well above expectations, while the trade balance rose to €19.7 billion. However, Eurozone retail sales underwhelmed with a modest 0.1% gain. In Asia, Japan saw a strong 3% increase in wage growth, and Australia reported a robust trade surplus of AUD 7.08 billion. China’s inflation held steady at 0.1%, while producer price deflation eased slightly to -2.3%. Now, market movers: Bitcoin is down 1.2% at $27,800, gold is flat at $1,925, and silver is up 0.3% at $24.10. For the U.S. Dollar Index, weaker domestic credit data might weigh on the dollar, but strong German industrial data and Fed commentary later today could provide balance. Thanks for tuning in, and we’ll catch you tomorrow!
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