Weekly News Recap 20 – 24 January 2025

News for 20 January 2025

Gold Pulls Back Below $2,700/oz

At the end of last week, gold prices weakened and closed at $2,702/oz, driven by the strengthening of the US dollar and the return of Trump, which led to selling pressure on gold.

On the morning of January 20, gold prices fell below $2,700/oz as the US dollar index continued to strengthen from 108.92 to 109.40. The rapid rise in the dollar put downward pressure on gold prices.

The market is closely watching Trump’s inauguration tonight, with expectations that a stronger dollar will push gold prices to move within the range of $2,685-$2,710/oz.

Intel Soars 9.25% on Takeover Speculation

Intel’s stock surged 9.25% amid speculation about a potential takeover of the company. Meanwhile, Qorvo’s stock jumped 14.43% after Starboard Value, an activist fund, revealed that it had acquired a 7.7% stake in the chipmaker.

TikTok Resumes Service in the U.S. After Trump Vows to Prevent Shutdown

TikTok resumed its services in the United States on Sunday, January 19, after U.S. President-elect Donald Trump confirmed he would intervene to prevent the popular platform from being shut down. This follows concerns over national security and political disputes affecting the company.

German Ambassador Warns Trump Administration May Undermine Media and Legal Independence

The German Ambassador to the United States has issued a warning regarding the incoming Trump administration, suggesting that it may erode the independence of law enforcement agencies and the media. The ambassador also noted that major tech companies could be granted significant roles in the governance process. This information was revealed in a confidential document that was reviewed and reported by Reuters.

TSMC Receives $6.6 Billion for Chip Plant Construction in the U.S.

TSMC has secured a commitment from the U.S. government under the CHIPS and Science Act during the Biden administration, receiving $6.6 billion in funding to build three advanced chip manufacturing plants in Arizona. This initiative is part of the effort to boost domestic chip production, reduce reliance on foreign technology, and strengthen U.S. economic security.

Investors Watch Trump’s Second Inaugural Speech, Expect Impact on Global Trade from Import Tax Policies

Donald Trump is set to begin his second term as U.S. president at 12:00 PM local time (12:00 AM, January 21, Thailand time). Investors around the world are eagerly awaiting his inaugural speech to gauge the direction of his new administration’s policies. Previously, Trump signaled that he might raise import taxes on goods from around the world by up to 10%, increase import tariffs on Chinese goods by 60%, and impose a 25% tariff on products from Canada and Mexico. If implemented, these measures could significantly affect the global economy and trade.

News for 21 January 2025

Gold Continues to Rise as Trump’s Policy Tone Softens

On January 20, the price of gold closed at $2,707 per ounce, driven by a more moderate tone in Trump’s remarks. His policy approach seems to be gradual rather than aggressive, causing the U.S. dollar to weaken, which in turn supported the rise in gold prices.

In the short term, the outlook for gold appears more positive due to these factors.

Trump Plans to Withdraw the U.S. from the Paris Agreement and Overhaul Trade System

Donald Trump has announced plans for the U.S. to withdraw from the Paris Agreement, a key accord under the United Nations Framework Convention on Climate Change. Additionally, Trump aims to reform the U.S. trade system by imposing tariffs on foreign goods to create wealth for the American people, emphasizing that he will no longer use taxes on Americans to support the prosperity of other countries.

Trump Plans to Increase Tariffs on Chinese Imports by 10%, Impacting Global Economy

President Donald Trump has revealed that he is considering raising tariffs on Chinese imports by an additional 10%, effective February 1, 2025. This move reflects the U.S.’s proactive stance on trade measures, which could have wide-ranging implications for the global economy.

HSBC Expects ‘America First’ Policy to Support U.S. Stock Market Uptrend

HSBC states that after President Donald Trump officially assumed office and delivered his first policy speech, even though he did not provide specific details on trade protection measures, the “America First” policy continued to generate significant positive support for the U.S. stock market. As a result, HSBC forecasts that the U.S. stock market is likely to continue moving upward in the near term.

BOJ Set to Raise Interest Rates to 0.5%, Highest in 17 Years

Kyodo News reports that the Bank of Japan (BOJ) is expected to raise its short-term interest rates from 0.25% to 0.5% during its January 23-24 monetary policy meeting. This increase would mark the highest level in 17 years. The decision comes amidst a stable financial market following the inauguration of U.S. President Donald Trump.

News for 22 January 2025

Gold Continues to Rise

On January 21, the price of gold closed at $2,744/oz, driven by market relief following President Trump’s decision not to aggressively raise tariffs on major trading partners like China. This led to a weakening of the U.S. dollar.

In the short term, gold prices are expected to continue rising. However, caution is advised if the U.S. dollar index tests the support level at 108.00. If it doesn’t break below this support, a rebound and strengthening of the dollar could occur.

Trump Approves Musk and Ellison to Acquire TikTok

President Donald Trump has announced that he is open to allowing Elon Musk, his supporter and billionaire entrepreneur, or Larry Ellison, the chairman of Oracle, to acquire TikTok. The deal would involve a partnership with the U.S. government, potentially addressing concerns about data security and control of the platform within the United States.

Meta Offers Up to $5,000 Bonus to TikTok Creators

Meta has announced that TikTok creators can earn a bonus of up to $5,000 over three months by posting Reel videos on Facebook and Instagram. This initiative is part of Meta’s efforts to support and attract creators to engage on its platforms.

OpenAI Partners with the U.S. Government Under the Stargate Program

OpenAI, the AI startup, has announced a major collaboration with the U.S. government under President Donald Trump’s leadership through the Stargate program. As a result, Microsoft loses its status as the sole cloud service provider for OpenAI. This partnership is set to reshape the future of cloud services.

News for 23 January 2025

Gold May Consolidate

On January 22, gold prices closed at $2,756/oz, supported by investors buying gold as a safe-haven asset amid uncertainties about President Donald Trump’s trade tariff measures.

On January 23, at 8:30 PM, the U.S. weekly jobless claims report will be released, with an expected figure of 221,000.

It is anticipated that gold prices may consolidate in a narrow range between $2,735-$2,765/oz, as there are no new bullish factors at the moment. At the same time, the U.S. dollar index is beginning to rebound.

Big Tech Stocks Surge

Shares of major technology companies have risen significantly, with Oracle up 6.8%, Dell gaining 3.6%, and Microsoft jumping 4.1%. Meta Platforms saw an increase of 1.1%, while Arm Holdings, a subsidiary of SoftBank, surged 15.9%. Super Micro Computer rose 4.3%, and Seagate Technology climbed 6.84%.

Google Invests $1 Billion in Anthropic, Fined $12.4 Million by Indonesia

Google is investing over $1 billion in Anthropic, an AI startup that competes with OpenAI. However, the company is also facing a fine of 202 billion IDR (approximately $12.4 million) from Indonesia’s antitrust agency for engaging in unfair business practices related to its payment system on the Google Play Store.

Adidas Shares Surge 6% After Better-Than-Expected Q4 Earnings

Adidas shares surged 6% following the release of its Q4 earnings, which exceeded expectations. The strong performance was driven by robust sales during the holiday shopping season.

Michael Grimes Negotiates Departure from Morgan Stanley to Join Trump Administration

Michael Grimes, a key technology banker at Morgan Stanley, is in talks to leave his position and join the administration of President Donald Trump. While the exact role is unclear, he will likely work with the Department of Government Efficiency (DOGE), a government advisory board focused on improving government performance.

News for 24 January 2025

Gold Continues to Rise

On January 23, the price of gold closed at $2,754/oz, showing a slight decline due to investor reactions to President Donald Trump’s comments urging the Federal Reserve to lower interest rates.

On January 24, at 21:45, the U.S. Manufacturing and Services PMI indices will be released, with forecasts of 49.8 and 56.4, respectively.

It is expected that the U.S. dollar may weaken after Trump’s continued support for the Fed to reduce interest rates.

Japan’s Manufacturing Sector Contracts the Most in 10 Months in January

Data released on January 24 reveals that Japan’s manufacturing sector showed its worst performance in 10 months in January due to sluggish demand. The preliminary Manufacturing Purchasing Managers’ Index (PMI) from au Jibun Bank dropped to 48.8 in January, down from 49.6 in December. A reading below 50 signals contraction, and the index has remained below this level since June of last year.

Trump Takes a More Compromising Stance Toward China, Unwilling to Impose Additional Tariffs

Recently, U.S. President Donald Trump stated in an interview with Fox News that he does not want to impose tariffs on goods imported from China, showing a more conciliatory tone toward the country. However, he maintained that he may resort to broader tariff measures in the future if necessary.