Other news

According to Kuwait's state energy company, clients don’t want to boost the import of black gold next year. This testifies to the fact that the weakness of the world economy harms markets.

Canada's central bank is discussing abandoning excessively high interest rates. This bond market signal portends a recession and weakening inflation.

Gold starts the week with a strong rise against the backdrop of a declining US dollar. Renewed optimism in China and dovish expectations from the Fed offset high US Treasury yields.

The focus is on the OPEC+ meeting and the entry into force of bans related to the import of Russian oil.

The agenda includes business activity in the service sector of different countries, summary indicators of business activity, US production orders and retail sales in the Eurozone.

The issue of inflation is currently of less importance in the foreign exchange market. Thus, according to economists at Commerzbank, dollar bears will not suffer losses even on the release of optimistic nonfarm payrolls.

Obviously there has been a structural shift in the markets toward a bearish dollar position. According to economists at Internationale Nederlanden Groep (ING), current U.S. nonfarm payrolls data may not cause an inversion of this trend.

European Central Bank President Christine Lagarde stated that inflation expectations should not change. People should be confident that price growth will return to the target level.

Central banks have recently been stepping up measures to combat global inflation. Investors, meanwhile, are actively discussing the continuation of high price levels amid limited supply.

The Australian dollar rose after the Reserve Bank of Australia (RBA) governor Philip Lowe made a statement. The policymaker expressed the regulator's "bearish" mood, saying that the board members discussed potential implications of not raising interest rates in the country.