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DAILY MARKET REPORT

Bitcoin (BTC) hits a new all-time high of $34000 over the weekend. The cryptocurrency rose more than 300% in 2020 and rallied by 50% in December alone. Bitcoin has more than tripled its value since 2020.

DAILY MARKET REPORT

Bitcoin (BTC) hits a new all-time high of $34000 over the weekend. The cryptocurrency rose more than 300% in 2020 and rallied by 50% in December alone. Bitcoin has more than tripled its value since 2020.

EQUITIES

Global stocks jumped higher on the first trading day of the year. Meanwhile, several Chinese stocks dropped on Monday after the New York Stock Exchange's announcement on Thursday that it will delist China Telecom, China Mobile, and China Unicom Hong Kong.

OIL

Crude oil prices surged to fresh session highs on Monday ahead of OPEC virtual meeting to decide whether to add as much as 500,000 barrels a day to production.

CURRENCIES

In the currency market, the commodity currencies the Australian dollar and New Zealand dollar climbed to 32-month highs on Monday supported by the Gold and Oil price rally.

GOLD

Gold climbed more than 1% to the highest level in almost two months as global COVID-19 cases spiked, and several countries pushed for more lockdowns.

Economic Outlook

On the data front, the China Caixin/Markit manufacturing PMI fell to 53.0 in December from 54.9 in November.

This week the investors will closely monitor Tuesday's Georgia runoff elections that will decide the control of the U.S. Senate, U.S. Federal Reserve's minutes of the latest meeting on Wednesday and U.S. unemployment report for December is due Friday.

Coronavirus update:

Worldwide infections climbed above 85 million. In the U.S., there are about 20.5 million confirmed cases of coronavirus and more than 350,000 COVID-19 deaths. Germany is due to extend its nationwide lockdown until the end of January, with more than 10,000 infections reported on Sunday.

Technical Outlook

EUR/USD: The currency pair trading steady above 1.2250 on Monday. The important levels to watch this week 1.2200 and 1.2310.

eurusd

The important levels to watch for today: Support- 1.2240 and 1.2210 Resistance- 1.2275 and 1.2310.

GOLD: The gold price opened gap up on Monday. Overall momentum remained bullish throughout the Asian session.

gold neww

The important levels to watch for today: Support- 1910 and 1900 Resistance- 1926 and 1932.

Quote of the day: Welcome responsibilities as it will bring in more chances of being successful and prosperous in this New Year.

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DAILY MARKET REPORT

DAILY MARKET REPORT

GAP shares rose more than 8% in extended trading after the company reported stronger-than-expected Q2 results and the stock climbed 30% in 2021.

DAILY MARKET REPORT

DAILY MARKET REPORT

US dollar investors focus now shifts to the second reading of the second-quarter US GDP numbers, which is set to be released later today.

DAILY MARKET REPORT

DAILY MARKET REPORT

Online vacation rental site Airbnb (NASDAQ: ABNB) shares soared 10% on Tuesday after the company opened the doors of its properties to 20,000 Afghan refugees globally.

DAILY MARKET REPORT

DAILY MARKET REPORT

Pfizer (NYSE: PFE) stock closed 2.48% higher on Monday after the FDA announced its full approval of the Pfizer-BioNTech COVID-19 vaccine.