Daily Market Bulletin – 04 January 2022

Market Developments

Sentiment appeared mixed as investors digested news around Omicron, as well as tech scrutiny and upbeat PMIs from China.

Tesla started the year with an around 13% stock surge after blowout delivery figures and Apple briefly hit the $ 3 trillion market cap, setting new record highs above $182.

Main Asia-Pacific stock markets were mixed, unable to capitalize on the positive lead from Wall Street. European futures are upbeat, with London returning from the holidays.

The US Dollar is steadies after Monday's rally and main Commodity Currencies (AUD, NZD, CAD) are supported against it.

Instruments Snapshot

EUR/USD steadies around 1.1300, following yesterday's plunge.

GBP/USD stays on the back foot, trying to defend 1.3450, after its poor start to the year.

USD/JPY extends its gains to five year highs toward 116.00.

USD/CAD slides after Monday's rally and trades below 1.2750.

AUD/USD returns to profitable territory above 0.7200, after its poor start to the week.

NZD/USD finds support after Monday's drop, but remains capped by 0.6800.

GER30 extends its gains, trying to take 16,100 out.

US30 stays on the offensive above 36,600.

USOIL consolidates around $76/barrel.

XAU/USD finds support above 1,800 after yesterday's plunge.

Economic Calendar Picks (GMT)

More PMIs are expected today with readings from UK (09:30), Canada (14:30) and USA (15:00).

Markets also await Germany Unemployment (08:55) and US Jolts Jobs Openings (15:00).

Oil traders turn to the OPEC+ Ministerial Meeting to see if the group will stick to its output plan, while US API Stockpiles are due at 21:30.

See the economic calendar here.

Nikos Tzabouras

Senior Market Specialist

Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.

With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.

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