Market Highlight 13/01/2026
U.S. equities closed at fresh record highs on Monday, with both the S&P 500 and the Dow Jones Industrial Average notching new all-time closing levels. Gains were led by technology stocks and retailer Walmart, as investors largely shrugged off concerns surrounding a U.S. Department of Justice criminal investigation into Federal Reserve Chair Jerome Powell. The Dow rose 0.17%, the S&P 500 gained 0.16%, and the Nasdaq advanced 0.26%.
The U.S. dollar weakened, as reports of the Justice Department’s criminal probe into Fed Chair Powell reignited concerns over the Federal Reserve’s independence and the long-term outlook for the dollar.
Gold prices surged to a new record high, breaking above USD 4,600 per ounce, as uncertainty stemming from the Trump administration’s criminal investigation into Powell deepened and investors flocked to safe-haven assets. Spot gold settled up 1.8% at USD 4,592.69 per ounce.
Oil prices also climbed, closing at their highest level since December 8, driven by concerns that protests in Iran could disrupt crude exports. However, gains were capped by expectations of increased supply from sanctioned OPEC member Venezuela.
Key Outlook 13/01/2026
Markets are now firmly focused on tonight’s key event — the U.S. December CPI release. Core CPI is expected to rise to 2.7% year-on-year (previous: 2.6%). However, seasonal effects from the U.S. holiday shopping period, along with potential statistical distortions linked to the earlier U.S. government shutdown, raise the possibility of an upside surprise. The outcome could have a significant impact on both record-high U.S. equities and gold prices.
Key Data and Events Today:
- 21:30 US CPI NOV ***
- 23:00 US New Home Sales OCT **
Tomorrow:
- 01:00 EIA Oil Market Report **
- 05:30 API Crude Oil Stock Change ***
- 11:00 CN Balance of Trade DEC **
- 21:30 US PPI OCT **
- 21:30 US Retail Sales NOV **
- 23:00 US Existing Home Sales DEC **
- 23:30 EIA Crude Oil Stocks Change **
Markets Analysis 13/01/2026
EURUSD
- Resistance: 1.1712/1.1734
- Support: 1.1615/1.1593
EUR/USD rebounded as the dollar weakened, with concerns over Fed independence following reports of a probe into Chair Powell. Technically, the price rebounded from the 1.1615-1.1593，support zone but remains within a descending channel. Upside is still capped near 1.1712-1.1734 ahead of U.S. CPI and tariff rulings.
GBPUSD
- Resistance: 1.3521/1.3541
- Support: 1.3411/1.3390
GBP/USD edged higher, tracking broad USD softness amid political pressure on the Fed and concerns over policy independence. With no key UK data, price action remains dollar-driven. Technically, the pair is rebounding from the 1.3411-1.3390 base, but upside near 1.3521-1.3541 still looks corrective unless momentum improves.
USDJPY
- Resistance: 158.62/158.87
- Support: 157.76/157.44
USD/JPY held near one-year highs despite broader USD softness, as weak Japanese wage data continued to cap yen demand. Risk sentiment stayed relatively contained, limiting safe-haven flows. Technically, price is stretching higher within an ascending channel, but momentum is slowing near the 158.62–158.87 resistance zone, signaling consolidation risk.
US Crude Oil Futures (FEB)
- Resistance: 60.77/61.14
- Support: 58.86/58.40
WTI pushed to a seven-week high as U.S. pressure on Iran revived supply-disruption concerns, with Russia and Venezuela risks adding a geopolitical premium. Technically, price has broken out of consolidation into an ascending structure, but upside momentum is approaching the $60.77–61.14 resistance zone, where gains may slow.
Spot Gold
- Resistance: 4657/4688
- Support: 4550/4509
Spot Silver
- Resistance: 87.18/89.25
- Support: 81.88/80.27
Gold hit fresh record highs as uncertainty over a probe into Fed Chair Powell boosted safe-haven demand, reinforced by geopolitical risks and rate-cut expectations. Technically, price stays in a strong uptrend, with dips toward $ 4550-4509 attracting buyers while $4,657-4,688 caps near-term upside.
Dow Futures
- Resistance: 50088/50405
- Support: 49064/48742
The Dow Futures closed at record highs as markets digested Powell probe headlines and refocused on earnings optimism, with cyclicals and consumer stocks leading. Technically, price is consolidating within an ascending channel above 49064-48742 support, while upside faces resistance near 50,088-50,405.
NAS100
- Resistance: 26179/26449
- Support: 25565/25290
The NAS100 pushed higher, supported by tech-led gains and expectations around Walmart’s inclusion in the Nasdaq 100, reinforcing earnings optimism. AI investment themes remain supportive. Technically, price stays within an ascending channel above 25,290 support, while upside momentum slows near the 26,179-26,449 resistance zone.
BTC
- Resistance: 93571/94769
- Support: 89605/88386
Bitcoin eased toward $90,000 as Trump–Fed tensions and geopolitical risks weakened risk appetite ahead of U.S. CPI. Technically, the price is holding within an ascending structure, with buying interest seen around the $89605-88386 support zone. Upside remains capped below $92,332-94,769, keeping BTC in consolidation mode.
Enjoy trading! The content is for reference only. Please ensure that you understand the risk.
