Most overseas markets are closed for Christmas, the US dollar is down, Bitcoin has dropped 0.7%, and gold has stabilized
Among non-US currencies, the euro rose 0.11% against the US dollar to 1.0413. The British pound weakened 2% against the US dollar to 1.2295. The US dollar fell more than 1% against the Japanese yen
As the Christmas holiday approaches, both the US stock market and US bond market are closed. Trading in some commodity markets, such as crude oil on the Chicago Mercantile Exchange and Intercontinental Exchange, is also suspended, and most other overseas markets are closed as well.
On Wednesday, December 25, the forex and commodity markets are relatively quiet, with the US dollar and Bitcoin declining, while gold stabilizes.
The US Dollar Index (DXY) fell 0.18% to 107.94.
Among non-US currencies, the euro rose 0.11% against the US dollar to 1.0413. The British pound weakened 2% against the US dollar to 1.2295. The US dollar fell more than 1% against the Japanese yen.
Bitcoin dropped 0.67% to $98,027.32.
Spot gold stabilized, currently reported at $2,616.45 per ounce.
Last week, the Federal Reserve lowered its interest rate cut forecast, indicating that there will only be two more rate cuts in 2025, down from the four cuts suggested in September. The futures market currently expects the federal funds rate to reach around 4% by the end of next year, implying one to two rate cuts. Overnight, the yield on the US 10-year benchmark Treasury bond briefly broke 4.6%, reaching its highest level since May, up about 20 basis points since the Federal Reserve's rate cut last week