15.12.25 - 19.12.25
Results of the previous week
| PA +21.25% | VIX +5.49% | GBPJPY +1.30% |
COFFEE -7.86% | HO -3.05% | WHEAT -2.83% |
Last week, US indices slightly declined. This is partly due to profit-taking ahead of the short Christmas work week. Weak US labour market and retail sales data added to the pressure.
Profit-taking strengthened the dollar on the foreign exchange market. The American currency managed to strengthen against most of its opponents. Even the yen weakened, despite the Bank of Japan raising its interest rate to 0.75%, the highest level it's seen since 1995.
Brent oil prices have dropped to $58.70. Although fears of oversupply on the global market continue to put pressure on the energy resource, the only thing keeping the price from falling significantly is the US's increasingly aggressive stance towards Venezuela.
Key events of the current week
| The US. GDP growth rate USD/JPY | DATE 23.12 | GMT | FORECAST | PREV. | IMPORTANCE |
The US economy is showing a steady growth rate, although global analysts expect inflation to slightly slow in the reporting period. This is perceived as an alarming signal after the latest labour market data showed the number of new jobs in the US falling by 105,000 and inflation declining at the producer level. With declining macroeconomic indicators, the US Federal Reserve can maintain a dovish stance on its monetary policy, which is unfavourable for the dollar. In this scenario, USD/JPY could decline to 154.60. | |||||
| The US. Durable goods orders XAU/USD | DATE 23.12 | GMT | FORECAST | PREV. | IMPORTANCE |
Global analysts expect durable goods orders figures to drop. This is a worrying signal because fewer orders mean a slowdown in manufacturing production and investment. Poorer performance from a key macroeconomic indicator will increase expectations of another rate cut by the Fed. This is unfavourable for the dollar, but a weaker dollar is good news for dollar-denominated assets, such as gold. In this context, XAU/USD could rise to 4,450.00. | |||||
![US Indices End the Year on a Strong Note [Weekly digest]](/sites/default/files/styles/image_300x120/public/news/shutterstock_1697986822_13.jpg?itok=uKaV9U7y)
