1. Home
  2. Markets Updates
  3. NAGA Weekly Recap December 9 - 2024 – December 13 - 2024

NAGA Weekly Recap December 9 - 2024 – December 13 - 2024

13 December 2024

Share the article:

Maxim Bohdan

Markets are absorbing the ECB’s fourth rate cut this year, bringing the deposit rate to 3%, amid political challenges in France and Germany. Nvidia’s 50% workforce expansion in China highlights its AI ambitions, while gold holds above $2,700 on inflation fears. EUR/USD steadies near 1.05 as investors await key macroeconomic data to shape the week ahead.



Top Leader 🏆

fjk3780

Highest Growth 📈

Atos

fjk3780, a trader focusing on $FXPO, achieved outstanding results this week, closing 13 trades with a remarkable total profit of $328,459.96.

This trader's success stemmed from a precise strategy exclusively targeting $FXPO, where all trades delivered consistent gains. The focused approach ensured an exceptional performance, reflecting strong market analysis and perfect execution.

Atos SE ($ATOS), the French multinational IT services and consulting company, saw its stock skyrocket by 50% this week, marking one of its best performances in recent years.

The surge comes on the heels of a series of positive developments, including stronger-than-expected quarterly results and an updated strategic roadmap. The company reported significant growth in its digital and cloud services segments, alongside an ambitious plan to divest underperforming assets and focus on high-growth areas.

*It is important to remember to assess your financial situation and risk tolerance, before engaging in copy trading. Past performance and forecast are not reliable indicators of future results.

 

ECB Cuts Interest Rates by a Quarter-point to 3%

The European Central Bank has cut interest rates for the fourth time this year amid political turmoil in its largest economies, France and Germany.

Policymakers cut the deposit rate from 3.25% to 3%, having begun cutting from a record high of 4% in June. This is the rate for banks to make overnight deposits and also serves as the main tool for the ECB to steer the monetary policy stance.

Explore Markets on NAGA

*Trading involves significant risk of loss.

 

Nvidia Expands Workforce in China to Drive AI-Powered Vehicles

Nvidia Corp. ($NVDA) has significantly bolstered its presence in China, hiring hundreds of new employees this year to strengthen its R&D efforts and advance autonomous driving technologies.

The tech giant, now the world’s second most valuable company, is set to close 2024 with a workforce of approximately 4,000 in China, compared to around 3,000 at the beginning of the year, according to sources familiar with the matter. This includes a notable increase of about 200 hires in Beijing, where the company is building a robust team of researchers dedicated to self-driving solutions. Additionally, Nvidia has expanded its after-sales service operations and networking software teams to further enhance its capabilities, one insider revealed.

Explore Stocks on NAGA

*Trading involves significant risk of loss.

 

Gold Settles Above $2,700 After ECB Meeting

$XAUUSD maintains its position above the $2,700 mark as markets react to the European Central Bank's monetary policy decisions and updated US economic data. The latest Producer Price Index revealed higher-than-expected inflation at the wholesale level in November, intensifying investor focus on upcoming central bank actions.

Explore Commodities on NAGA

*Trading involves significant risk of loss.

 

EUR/USD Stabilizes Near 1.05

The euro ($EURUSD) remains anchored near the 1.05 level as markets digest the European Central Bank's decision to cut interest rates by 25 basis points, a move widely anticipated by investors. President Lagarde’s cautious remarks hinted at further data-driven actions but lacked clear signals about the next steps.

Meanwhile, subdued inflation data from the US added to the uncertainty, prompting traders to adopt a wait-and-see approach. The focus now shifts to upcoming macroeconomic releases and their potential impact on the euro's trajectory.

Explore Forex on NAGA

*Trading involves significant risk of loss.


This concludes our weekly recap. Have a great weekend and see you next week! 👋

Trading leveraged products involves significant risk of loss. Refer to our Legal Documents Section.

IMPORTANT NOTICE: Any news, opinions, research, analyses, prices or other information contained in this article are provided as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. Past performance is not an indication of possible future performance. Any action you take upon the information in this article is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this article.
RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail client investors lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Related articles

Brent on the Boil: Oil Rallies as Geopolitical Heat Fuels Bullish Breakout
19 June 2025
Oil markets are heating up as Brent crude breaks out above major moving averages. Discover the key levels, risks, and drivers behind the latest price rally.

Read more

NAGA Weekly Recap June 9 - 13, 2025
13 June 2025
Catch up on this week’s market moves: strong U.S. jobs data lifted sentiment, but inflation risks and stalled trade talks kept investors cautious. Tech led gains, oil climbed, and the dollar slipped. Read the full financial recap for June 9–13, 2025.

Read more

Gladys Eguia

Top Economic Events to Watch | June 9 - 13, 2025
10 June 2025
Get the latest CPI, Core CPI, and PPI data insights for June 2025. Discover how this key inflation data could impact markets and your trading strategy.

Read more

Gladys Eguia