Market News Summary
Many markets closed the day after Christmas in celebration of the official holidays, and trading is expected to remain quiet throughout the rest of the week.
A summary of the Bank of Japan’s meeting indicated that policymakers at the bank see the need to maintain an extremely easing monetary policy at the present time. Some of them called for a deeper discussion in the future about abandoning this policy.
The summary quoted one member as saying, ‘Considering the future abandonment of the current monetary policy, it is necessary to study the positive and side effects of controlling the yield curve and negative interest rate policies, as well as considering their handling.’
Dollar Index (USDX)

The dollar index hovers near its lowest levels in five months, while yields on the benchmark 10-year U.S. bonds have also declined.
Pivot point: 101.20
Resistance level | Support level |
101.35 | 100.95 |
101.50 | 100.80 |
101.65 | 100.65 |
Spot Gold (XAUUSD)

Gold extended its gains yesterday, Tuesday, continuing its ascent for the third session in a row, driven by the weakness of the dollar and the decline in Treasury yields in the final week of the year. Traders anticipate that the Federal Reserve will cut U.S. interest rates in early 2024.
The spot price of gold rose by 0.3% to $2,059.79 per ounce, near the highest level in over two weeks, recorded at $2,070.39 in the previous session. U.S. gold futures settled at $2,069.80.
Pivot point: 2063
Resistance level | Support level |
2073 | 2057 |
2078 | 2047 |
2088 | 2042 |
Dow Jones Index (DJ30ft – US30)

Futures for the Standard & Poor’s 500 index approached stability on Tuesday night. Investors are looking forward to the benchmark index nearing a record level. Nasdaq 100 futures rose by about 0.1%. Futures for the Dow Jones Industrial Average added 18 points and were traded near the flatline.
These gains add to what has already been a strong year for the stock market. With only three trading sessions left in the year 2023, the Dow Jones and the S&P 500 are poised to end the year with gains of 13% and 24%, respectively. The Nasdaq Composite index surged by 44%, outperforming amid the resurgence of giant technology companies and the frenzy around artificial intelligence.
Pivot point: 37855
Resistance level | Support level |
38015 | 37750 |
38120 | 37590 |
38280 | 37485 |
US Crude Oil (USOUSD)

Oil prices rose by more than 2% yesterday, Tuesday, at settlement to their highest levels this month. Another attack on ships in the Red Sea raised concerns about disruptions in shipping and hopes for interest rate cuts, which could boost economic growth and fuel demand.
Brent crude futures settled up two dollars, or 2.5%, at $81.07 per barrel, after rising by as much as 3.4% during the session. U.S. crude settled up $2.01, or 2.7%, at $75.57 per barrel.
Pivot point: 74.90
Resistance level | Support level |
76.65 | 73.65 |
77.90 | 71.85 |
79.70 | 70.60 |
Risk Warning
This article provides real-time market analysis from contributing analysts. Please note that any views expressed in this article do not constitute operational advice. It is important to assess your risk tolerance and make independent trading decisions. STARTRADER holds no responsibility for any trading consequences that may arise from relying on the views expressed in this article.
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