​EBC Markets Briefing | Euro up on Powell's investigation; Intel kept surging

The euro rebounded from a one-month low early on Monday, as US prosecutors opened a criminal investigation into Fed Chair Jerome Powell, adding to tensions with the Trump administration.

He called the probe "unprecedented" and said he believed it was opened due to him drawing Donald Trump's ire over refusing to lower interest rates despite repeated public pressure from the president.

The US economy added just 50,000 jobs in December, the smallest gain since pandemic. Meanwhile, the unemployment rate ticked down to 4.4% from a revised 4.5%.

Trump has presented a flurry of reasons to justify control of Greenland. He said on Friday that the US must take Denmark's autonomous territory to prevent Russia or China from taking it.

A group of European countries, led by Britain and Germany, is discussing plans to boost their military presence in Greenland to show that the continent is serious about Arctic security, Bloomberg News reported.

Eurozone inflation fell to 2% in December, hitting the ECB's target for the first time since the summer and strengthening the case for interest rates to remain on hold.

The single currency has fluctuated around 50 SMA since Thursday. The double bottom pattern suggested it may well push above $1.1683 before resuming downtrend.

Asset recap

As of market close on 9 January, among EBC products, Intel shares led gains after Trump said on Truth Social that he had "a great meeting with the very successful the company's CEO."

The yen slid to one-year low as PM Takaichi may dissolve the lower house. Talk of a possible snap election raised hopes for growth-friendly fiscal steps, which supported equities and weakened currency.

In 2025, the wholesale US natural gas spot price averaged $3.52, according to data from LSEG Data. That marked an increase of 56% from the 2024 average, which was the lowest on record om an inflation-adjusted basis.

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