Against the backdrop of an ever-increasing number of COVID-19 cases in China, the country's economic outlook has weakened. This led to the fact that oil prices are under pressure.

Oil prices are hovering near two-month lows amid easing concerns about fuel supplies.

The important documents were presented at the Boston Fed research conference. They say that despite the COVID-19 pandemic, the job market, in general, remains favorable.

According to Jamie McGeever, financial journalist at Reuters, news on the U.S. dollar’s decline might be strongly exaggerated. Many investors bet that the Fed creates the necessary conditions for the much-anticipated “pivot” of the American currency.

On Friday, People's Bank of China (PBOC) policy consultant Liu Shijin stated that China's economic growth target for 2023 should be at least 5%.

On Thursday, Andy Jassy, current Chief Executive Officer at Amazon.com Inc., announced that the commerce giant is adjusting to new economic conditions, therefore, it will continue to reduce jobs in 2023.

Haruhiko Kuroda, governor of the Bank of Japan, said Friday that wage growth of 3% could bring the inflation of 2% closer. It’s a bank’s target.

On Friday, a rise in gold prices was registered, linked to a decrease of the dollar. Nevertheless, prices of the yellow metal might start falling too.

Strategists at investment bank Goldman Sachs Inc. consider that the U.S. dollar will gradually strengthen and continue to grow. However, investors will still face the impact of inflation and high interest rates next year.

The Biden administration asked Congress for $500 million to upgrade the US Strategic Petroleum Reserve (SPR) facilities.