No change of the indicator value may reduce the volatility of the related markets.
No change of the indicator value may reduce the volatility of the related markets.
Ahead of market closure for the long holiday weekend, Wall Street will release a number of key financial and economic reports. The data on the PCE index, housing market, and the final GDP’s reading for the third quarter will be presented to investors.
The USDJPY currency pair ended last week hovering around 136.70. Analysts at Danske Bank predict that USDJPY at 137 by mid-January and at 139 in three months. In a year, it could drop to 128.
On Monday, oil prices are rising. After large losses in the previous session, markets expect to see a resumption of demand.
The focus is on business optimism, assessment of the current state of the economy and expectations of Germany, the cost of labor in the Eurozone, the cost of housing in the United States and consumer sentiment in New Zealand.
On Thursday, December 15, the European Central Bank (ECB) increased its interest rate for the fourth time in a row. This time, it rose by 50 basis points. The bank also outlined its intention to start reducing the balance sheet from next March.
December’s data showed that business activity in France contracted faster than in the previous month. These factors reinforce signs of an impending recession in the eurozone's second-largest economy, as high inflation puts a strain on business activity.
The growth rate of the U.S. dollar has been driven by the pace and size of interest rate increases. According to economists at ANZ Bank, the dominance of the U.S. dollar is coming to an end.
Bundesbank warned of tough times for the German economy through the middle of next year. German businesses and households will have to struggle to pay high energy bills, and it will take a while before Germany sees a recovery.
The Norges Bank raised its interest rate by 25 basis points Thursday, just as Bloomberg analysts forecasted. Thus, the current rate is 2.75%, the highest since February 2009.
The European Central Bank's (ECB) warning that sharp rate hikes are not over is raising the stakes about the start of the recession.