Financial Markets
The US equity market continues trading mostly sideways. This week the S&P500 and
the NASDAQ
100 gained 1.5% and 2.9%, respectively. The small
cap
index (Russel 2000) was essentially flat. Trading volumes were
slightly higher than average.
The
metals were positive: gold
and silver gained 0.8% and 1.1%, respectively. Gold closed the week at
2882$, another all-time-high. However, Friday was weak for the metal and the rally may be losing a bit of momentum. Silver encountered resistance at 33$ and seems to be topping out at current levels.
WTI closed the week at 70.49$/bbl, a short term support, but may fall down to 67$ in the next weeks.
Bitcoin has risen 1.33% for the week, and continues stuck in the range 91-109k$.
The
relative
strength of the US dollar (DXY) fell again this week (~107). The
EUR/USD is around 1.049$, the GBP/USD is at 1.259$, and the USD/JPY is at
152.28 JPY.
US M2 money supply at the date of 30th December 2024 was up by 0.4%.
The
national financial
conditions index (NFCI) for the week of 3rd February 2025 loosened by 0.72%, showing a slow but continuous loosening of financial
conditions. Note that this indicator is
delayed by a week.
US
bond yields were down slightly this week, and now sit at 4.261% for the
2-year
and 4.478% for the 10-year.
The VIX gradually fell during the week, ending at ~14.8, which can be considered a low level, indicating a moderation in fear and search for put
options from the part of investors/speculators.
Comment Section
