On Wednesday, the U.S. Dollar Index saw a correction, at one point falling below the 103 mark and hitting an intraday low of 102.77, but it quickly recovered this level, ultimately closing down 0.27% at 103.24. The yield on the 10-year U.S. Treasury note stabilized above the 4.1% threshold, closing at 4.180%. The yield on the 2-year U.S. Treasury note, more sensitive to Federal Reserve policy rates, closed at 4.384%.

On Wednesday (January 24th), data indicated strong U.S. business activity. Despite the dollar's weakness limiting losses, investors awaited more economic indicators to assess when the Federal Reserve might first cut interest rates. This expectation led to a decline in the U.S. Dollar Index and a corresponding fall in gold prices.

Despite an initial slight rise in oil prices on Wednesday (January 24th), they soon faced renewed pressure, suggesting that OPEC+'s current oil production cuts are insufficient. This is particularly evident as Russia, which should have borne the largest share of these cuts, has not respected them and continues to increase its oil production. Meanwhile, the market is adjusting for 2024, with sluggish economic growth and central banks not in a rush to relax interest rate hikes soon, leading to more upcoming challenges. At the same time, a significant decrease in U.S. crude oil inventories, coupled with economic changes in key oil-consuming countries, led to a modest climb in oil prices to over a month high.