🌅 Morning Update | ...from NORDFX Global

🌅 Morning Update | 24 Dec 2025 📉 Holiday liquidity: Christmas Eve trading is typically thinner, with US stocks closing early and many desks running lighter risk - expect faster spikes and wider intraday swings. 📈 Equities: Asian markets are mostly steady to slightly higher in quiet year-end flows, while US sentiment remains supported after recent record closes. 🥇 Gold & silver: The rally continues, with gold hitting fresh record highs and silver extending its surge, as the USD stays softer and safe-haven demand remains firm. 💴 FX - yen in focus: JPY remains supported by renewed intervention warnings from Japanese officials, keeping USD/JPY under pressure. 🛢️ Oil: Crude is trying to stabilise after recent swings, with traders watching geopolitical and supply headlines, including developments linked to Venezuela. 🗓️ Economic Calendar of the Day: 🇺🇸 US Initial Jobless Claims (Christmas-week release) - watch for volatility around the print. Trade smart and stay alert with NordFX 🎄📊

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🌏 Morning Update - 21 January 2026 Asia is stabilising after Tuesday’s sharp US sell-off, with most regional indices posting modest gains. Chinese benchmarks are up around 0.20%–0.40%, while Japan’s JP225 is leading the region, rising close to 1.10% as risk sentiment cautiously improves. 📈 🟡 Gold remains in the spotlight, extending its rally to fresh record highs near USD 4,880 per ounce. Since the start of the year, gold is up roughly 13%, suggesting that a significant portion of the gains forecast by banks for 2026 may already be priced in during January. ✨ 📉 US equities suffered their worst session since October. The US500 fell more than 2.00%, while the US100 lost up to 2.40%. Volatility spiked sharply, with the VIX jumping toward 21 points before easing back to around 19.8 in early trading today. ⚠️ 🎬 Netflix reported slightly better-than-expected Q4 earnings, with EPS at USD 0.56 versus 0.55 expected and revenues of USD 12.05bn. Free cash flow was notably stronger. However, guidance for Q1 was mixed, with operating profit and margin projections below market expectations. As a result, Netflix shares dropped around 5.40% in after-hours trading. 📺 💵 Currency markets are relatively calm, with most major pairs trading in narrow ranges. While the US dollar has weakened in the short term, analysts warn that the euro could prove more vulnerable if tensions between the US and the EU escalate further, particularly for highly export-oriented economies such as Germany. 💱 📊 Equity outlook: major investment banks continue to see upside for global equities over the next 12 months, driven primarily by earnings growth rather than valuation expansion. Despite this, the US500 remains about 1.10% lower year-to-date. 📉➡️📈 🏦 Japan: government bonds edged higher after a sharp sell-off earlier in the week, helping to stabilise sentiment in Asian fixed income markets.

NORDFX Global