Other news

Oil prices rose 2% on Monday as OPEC+ countries maintained their output targets. This surge happened ahead of the European Union's (EU) cap on the price of black gold.

Growth in China's services industry fell in November to a six-month low. New strict lockdown measures aimed at fighting COVID-19 outbreak in China affected consumer demand. These factors indicate that economic growth is slowing.

It’s reported that the U.S. dollar lost about half of its annual growth. It happened for several reasons. Firstly, the U.S. Fed was expected to ease monetary policy. Secondly, it was assumed that China would remove or at least loosen covid restrictions.

Almost all economists agree that the Australian central bank rate will rise on Tuesday by 0.25%, reaching 3.1%.

In the previous month, 263,000 new jobs were added in the U.S., although this number was expected to decrease to 200,000. Meanwhile, the unemployment rate remained stable at 3.7%, which is generally in line with economists’ forecasts.

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.