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Newsquawk Pre-Market Movers
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Wall Street futures rise on tech stocks rally, Nasdaq gains up to 1%
Wall Street futures rose on Thursday, led by gains in technology stocks after strong quarterly results from Taiwan Semiconductor Manufacturing Co boosted sentiment around chipmakers, while easing geopolitical concerns also supported risk appetite.
At around 5:25 pm IST, Nasdaq 100 futures were up about 0.84 percent, S&P 500 futures gained roughly 0.4 percent and Dow Jones Industrial Average futures were also trading higher, signalling a positive start for U.S. equities.
Nasdaq 1h Chart
Bitcoin Is Closing In On $98,000 – And Analysts Are Watching This Resistance Level For Its Next Rally
Bitcoin hit a three-month high above $97,700 on Wednesday, leading gains among major digital assets.
Spot Bitcoin ETFs recorded their largest inflows since the October 10 market crash.
Glassnode data shows Bitcoin is trading within a heavy resistance zone between $93,000 and $110,000, where long-term holders have previously sold.
GBP/USD: Pound Seesaws Around $1.3430 as UK Economy Posts Surprise Growth
Pound making moves
UK economy grows 0.3%
Trend still capped at $1.36
The GBPUSD jumped toward $1.3440 after the UK printed 0.3% GDP growth for November, triple what economists expected and a sharp rebound from October’s contraction.Traders love surprises, and this one was bullish enough to send the pound sprinting higher before the London coffee even cooled. The gains, however, fizzled shortly after.
Has Iran blinked?
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Power of ”50”
My Favorite Trading Secret: The Power of the “50” Level
EURUSD UPDATE
- 1.1650 (”50” level) printed 4 days in a row coming into today. High so far today 1.1647
- Break of this pattern would be a bearish sign but only confirmed by a solid 1.1614-18 break. .
EURUSD DAILY CHART
Newsquawk Daily US Opening News
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USDX (US DOLLAR INDEX)
- Struggling to build momentum as the range tightens within a broader 98.70-99.42 range, closer to the top than the bottom end.
- To break the upper end, EURUSD (57.6% of the index) would need to make a run at 1.16.
- On the downside, support at 98.88-98 protects the lower end.
- In any case, price action so far confounding forecasts of a weaker USD in 2026.
USDX 4 HOUR CHART
Forex Market Snapshot
The forex market continues to struggle to find a common theme to drive trading in the new year. This has seen it struggle to build serious momentum as trading remains choppy.
With that said ranges have been tight so far today with
- EURUSD holding below 1.1650
- USDJPY holding above 158 as it consolidates after trading lower yesterday
- GBPUSD showed little reaction to a positive GDP report
- AUDUSD a touch firmer as US stocks are up aa geopolitical tensions with Iran ease a bit.
- USDCAD is a touch firmer as crude oil prices slip back on easing imminent US threat to attak Iran
- US Weekly Jobless Claims highlight a light calendar
Did Iran blink? See if Iran confirms.
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Newsquawk US Market Wrap
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NAS100 (NASDAQ) UPDATE
Posted earlier and gave the clue to the move down:
2 blue AT lines drawn off the high indicate a potential change in directional risk and loss of momentum while below 25757.
- Now dependent on 25250 area holding to call it consolidation and prevent a squeeze down to 25000.
- On the upside, back above 25757 nnee3ded to negate the risk.
NAS100 4 HOUR CHART
US500 UPDATE
- Stocks finding some relief into the close on reports of Iran blinking
- In US500, retracement from the failure to test 7000 not fatal as it held 6887 support to check the downside. This is the key level along with 6861 as below it would open the door for 6800-20.
- One change the past two down days is that the deck is cleared of buy stops until above the 6997 high which makes it hard to build more up momentum unless the 7000 level is taken out.
- So choice is consolidation or retracement depending on whether support holds.
US500 4 HOUR CHART
EURUSD Daily – Update
1.16700 proved to be untouchable today and now lets see how it goes with the support at 1.16200
Pattern wise – If we’ve seen a lower low today then day before, it would be a clear cut – but we didn’t…so it is still undecided, with a probability of continuing Down increasing…
EUR should test tomorrow 1.16550 and if fails off it goes…
However – a clear break above it and close tomorrow above 1.17000 would signal a start of a new rally.
US yields decline after data, Middle East tension spurs caution
Producer prices rise moderately in November
November retail sales top expectations
Geopolitical tensions in Middle East spur investor caution
Supreme Court ruling on Trump’s tariffs awaitedThe New York Times reported that Minneapolis Federal Reserve President Neel Kashkari did not want to cut interest rates last month and sees no need to cut them any time soon given labor market resilience and inflation above the Fed’s target.
Fed’s Beige Book
Stocks off the lows, US up, XAUUSD back near the high
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Stay alert
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XAUUSD (GOLD) UPDATE
- Is it time for a pause?
- XAUUSD remains bid but consolidating after running into repeated resistance around 4640.as it takes a back seat today to BTCUSD and XAGUSD and not getting the safe haven flows as stocks correct.
- Look for 4600 to be pivotal and 4560-70 needing to hold to prevent a retracement and keep the risk pointed even higher.
XAUUSD 4 HOUR CHART
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