Weekly News Recap 24 – 28 February 2025

News for 24 February 2025

Gold เช้านี้อ่อนตัวลง

At the end of last week, gold prices weakened, closing at $2,935/oz. This was due to the previous increase in prices, which led to profit-taking and selling pressure to reduce risk.

It is estimated that gold prices may fluctuate within the range of $2,915-$2,940 USD/THB as investors gradually reduce risk ahead of the U.S. Core PCE announcement later this week.

ECB May Reduce Deposit Rates to 2% By This Summer

François Villeroy de Galhau, Governor of the Bank of France and a policymaker at the European Central Bank (ECB), revealed that the ECB might reduce the deposit rate to 2% by this summer in order to stimulate sluggish economic growth. The deposit rate was cut by 0.25% to 2.75% on January 30, and it is expected that the ECB will implement further rate cuts in March due to growing concerns about economic growth, outweighing the persistent concerns over high inflation.

EU Announces New Sanctions Against Russia, Reaffirms Support for Ukraine

The European Union (EU) has approved new sanctions against Russia today, February 24, and reaffirmed its strong support for Ukraine ahead of key meetings scheduled this week in Brussels, Kyiv, and Washington, D.C.

News for 25 February 2025

Gold Rebounds but Faces Resistance

On February 24, gold prices rose to close at $2,953/oz, driven by SPDR Gold Trust increasing its holdings in gold and buying it as a safe-haven asset amid concerns over President Trump’s tariff measures.

On February 25, at 22:00, the U.S. consumer confidence index will be announced, with an expectation of 102.7.

It is estimated that gold prices may remain elevated, even though Trump confirmed the continuation of tariffs on Mexico and Canada.

Investors Eye Nvidia’s Earnings Amid Concerns Over AI Chip Demand

Investors in the financial markets are closely watching Nvidia’s earnings report, scheduled for this Wednesday, amid concerns about the future demand for Nvidia’s high-priced AI chips. This comes as China’s DeepSeek introduced low-cost AI models, which caused turbulence in the tech industry last January.

According to a survey of analysts by LSEG, Nvidia is expected to report a 72% increase in revenue, reaching $38.05 billion for Q4 of fiscal year 2025. However, this growth represents the slowest pace in seven quarters.

Additionally, the Trump administration has plans to restrict Nvidia’s chip exports to China without a license, as part of the U.S. effort to limit China’s technological capabilities. Discussions are also underway to increase global restrictions on AI chip exports.

Concerns Over Microsoft’s Data Center Leasing Slowdown Impact U.S. Stock Market

An analysis indicating that Microsoft may be slowing down its data center leasing has raised investor concerns about a potential slowdown in the U.S. stock market. On Monday, February 24, investors worried that the recent market rally, driven by AI-related stocks, might be losing momentum. This comes as Microsoft, a key leader in cloud technology, appears to be scaling back its expansion in this sector.

Apple Invests $500 Billion In The U.S. And Announces Ban Lift In Indonesia

Apple announced on February 24 that it will invest $500 billion in the U.S. over the next four years, including building a large-scale factory in Texas for AI server assembly and creating around 20,000 research and development jobs across the country.

In additional news, Bloomberg reported on February 25, citing insider sources, that Indonesia and Apple Inc. have reached an agreement leading to the lift of the iPhone 16 sales ban in the country after a prolonged dispute lasting over five months.

Jamie Dimon Criticizes U.S. Government, Calls For Improvements Amid Federal Layoffs

Jamie Dimon, CEO of JPMorgan Chase, stated that the U.S. government is inefficient and in need of reform. His remarks come as President Donald Trump’s administration moves forward with laying off thousands of federal employees and attempts to dismantle various agencies, including the Consumer Financial Protection Bureau (CFPB).

News for 26 February 2025

Gold Faces Profit-Taking Sell-Off

On February 25, gold prices declined, closing at $2,914/oz, as investors took profits after the metal reached an all-time high on Monday.

On February 26 at 10:00 PM (ET), the U.S. will release new home sales data, with market expectations set at 697K.

Gold may see a short-term rebound during the day within the range of $2,910-$2,935/oz.

U.S. Consumer Confidence Index Drops to 8-Month Low

The Conference Board reported that the U.S. Consumer Confidence Index fell to 98.3 in February, the lowest level since June 2024, down from 105.3 in January and below analysts’ expectations of 102.3. The decline reflects growing consumer concerns over the potential impacts of policies introduced by the Trump administration.

Meta In Talks to Build New $200 Billion AI Data Center

The Information reported on February 25, citing insider sources, that Meta Platforms—the parent company of Facebook, Instagram, and WhatsApp—is in negotiations for a massive new data center project to support artificial intelligence (AI) development. The investment is expected to exceed $200 billion.

News for 27 February 2025

Trump to Impose 25% Tariffs on EU but Delays Tariffs on Mexico and Canada

Investors are reacting to President Donald Trump’s latest comments on tariff policies. On February 25, Trump announced that his administration would soon impose a 25% import tariff on goods from the European Union (EU). However, he also signaled hope for the market by suggesting that the U.S. may delay imposing tariffs on Mexico and Canada. Trump stated that these tariffs would take effect on April 2, approximately one month later than the previous deadline set last week.

Trump Confirms U.S. Has No Plans to Guarantee Ukraine’s Security

On February 26, President Donald Trump stated that the United States has no plans to guarantee Ukraine’s security. However, he revealed that the U.S. is preparing to sign a critical minerals agreement with Ukrainian President Volodymyr Zelensky this week. The deal aims to accelerate ceasefire negotiations between Ukraine and Russia.

U.S. Reviewing Bird Flu Vaccine Contract With Moderna, Shares Drop 5.5%

Reuters, citing Bloomberg, reported that U.S. health officials are considering reviewing a $590 million contract with Moderna for the development of a bird flu vaccine. The news led to a 5.5% decline in the company’s stock price.

News for 28 February 2025

Gold Weakens Further

Gold prices weakened, closing at $2,877/oz, pressured by the strengthening U.S. dollar. Investors are awaiting the release of the U.S. Core PCE Index today.

At 20:30 on February 28, the U.S. Core PCE Index will be announced, with an expected growth of 0.3%, which aligns with rising inflation in the U.S.

After breaking below the key support level of $2,900/oz, gold appears to be entering a weakening trend or a sideways down pattern.

Nvidia Reports Better-than-Expected Profit and Revenue

Nvidia reported higher-than-expected profit and revenue for Q4 of fiscal year 2025, which ended on January 26. However, the company’s gross margin for the quarter was 73%, a 3% decrease compared to the previous year. Additionally, Nvidia forecasts that its gross margin in Q1 of fiscal year 2026 will decrease to 71%, which is lower than the 72.2% expected by Wall Street analysts.

Ferrari Shares Drop 7.9% After Exor Sells Stake in Ferrari

Ferrari shares dropped by as much as 7.9% after Exor, the largest shareholder of Ferrari, sold approximately 4% of its stake, valued at 3 billion euros ($3.14 billion). Additionally, the European Commission (EC) announced it would respond “decisively and immediately” to unfair trade barriers arising from President Donald Trump’s tariff measures. The European automobile and automotive parts index fell by more than 3.7%, with shares of Stellantis dropping 5.2%, BMW down 3.8%, and Porsche falling 3.3%.

Trump Revokes Chevron’s License to Operate in Venezuela

U.S. President Donald Trump announced the revocation of Chevron’s license to operate in Venezuela, a decision that was previously approved by former President Joe Biden over two years ago. Trump cited that the government of President Nicolás Maduro in Venezuela had made no progress on election reforms and the repatriation of Venezuelan migrants.

OPEC+ Considers Adjusting Oil Production Plans in April

OPEC and its allies, known as OPEC+, are debating whether to increase oil production in April as originally planned or to maintain current output levels. The discussion arises as member countries face challenges in assessing the global oil supply landscape. This issue is compounded by the impact of the latest sanctions imposed by the U.S. on Venezuela, Iran, and Russia, which have affected the global oil supply.