Market Overview
European energy data revealed that natural gas reserves across EU countries remain around 80% capacity, a reassuring figure as the region faces a deepening cold snap. This buffer may help cushion the impact of rising heating demand during the ongoing cold wave sweeping the continent.
In the U.S., the trade deficit narrowed in November, with both imports and exports declining, reflecting the cooling effect of high interest rates on domestic and international demand. The latest data from the Department of Commerce showed a deficit of $63.2 billion, down from a revised $64.5 billion in October—defying analysts’ expectations for a slight increase.
Dollar Index (USDX)
The U.S. dollar dipped slightly as traders await key inflation data releases later this week, with both the Consumer Price Index (CPI) and Producer Price Index (PPI) on the calendar. According to a recent survey from the New York Federal Reserve, consumer expectations point toward easing inflation over the coming year, alongside moderate gains in income and spending.
Market bets on a March rate cut are growing, with CME FedWatch showing a 60% probability of a rate reduction.
- Pivot Point: 102.15
- Resistance Levels: 102.45 • 102.65 • 103.00
- Support Levels: 101.90 • 101.60 • 101.35
Spot Gold (XAU/USD)
Gold prices remained stable on Tuesday as market participants moved cautiously ahead of U.S. inflation figures that could influence the Federal Reserve’s rate path. After dipping to a three-week low on Monday, gold inched slightly higher in spot markets.
- Spot Gold: $2028.95 per ounce
- Gold Futures: Slight dip of 0.02%, closing at $2033.00
- Pivot Point: 2032
- Resistance Levels: 2039 • 2048 • 2054
- Support Levels: 2023 • 2016 • 2007
Dow Jones Index (DJ30ft – US30)
U.S. equities saw a mixed close on Tuesday, with rising bond yields prompting investors to re-evaluate the potential timeline for Fed rate adjustments. Market sentiment remains focused on upcoming CPI and PPI reports, along with the unofficial start of earnings season later this week, headlined by JPMorgan, Wells Fargo, Citigroup, and other major banks.
- The Dow Jones ended its three-day winning streak, falling 0.42% (−158 points) to 37,525.
- The S&P 500 dipped 0.15%, with energy stocks dragging down the index by around 1.5%.
- The Nasdaq Composite advanced 0.1%, notching its third consecutive gain, supported by tech sector strength.
- Pivot Point: 37,745
- Resistance Levels: 37,885 • 38,040 • 38,180
- Support Levels: 37,595 • 37,455 • 37,300
U.S. Crude Oil (USO/USD)
Oil markets rebounded sharply on Tuesday, recovering from earlier losses amid Middle East tensions and lingering questions about demand dynamics and OPEC supply levels.
- Brent Crude: Gained $1.47 (+1.93%), closing at $77.59
- WTI Crude: Rose $1.47 (+2.08%), ending at $72.24
- Pivot Point: 71.85
- Resistance Levels: 73.25 • 74.30 • 75.70
- Support Levels: 70.75 • 69.40 • 68.30
Risk Disclaimer
This report provides live market insights and should not be taken as investment advice. Traders are encouraged to conduct their own research, evaluate their financial risk tolerance, and make independent decisions. STARTRADER does not bear responsibility for any trading outcomes resulting from reliance on the opinions or forecasts shared here.