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On Thursday, officials said that employers, union representatives and the government of Mexico had reached an agreement on a decision to increase

Bank of Canada economists suppose that the interest-rate hiking cycle can be completed in the forthcoming months. Even if the Federal Reserve continues to increase borrowing costs, the situation won’t change.

The U.S. Congress has ordered the sale of a part of the Strategic Petroleum Reserve to replenish its emergency reserve. The Biden administration opposed it.

On Thursday, the Japanese yen surged as the dollar showed a decline. The fall of the U.S. national currency is linked to an anticipated slowdown in the pace of further rate hikes by the Federal Reserve system.

According to economists, Chinese authorities may shift the focus from the zero-COVID approach that has stymied economic growth at the December meeting.

On Friday, People's Bank of China (PBC) Governor Yi Gang announced that the central bank intends to support the country’s economy and stimulate its growth. He also added that consumer inflation in China is likely to remain moderate in 2023.

Growth in the manufacturing sector of Mexico is going for the third month in a row. It accelerated a little in November.

Christine Lagarde, president of the European Central Bank (ECB), sees that some European states' fiscal policies are likely to trigger excess demand. She stressed that fiscal and monetary policies need to work in sync so that economic growth remains both balanced and sustainable.

Oil prices declined during early Asian trade on Friday as the U.S. dollar cut its losses slightly. In turn, easing of COVID-19 restrictions in two Chinese cities compensated for the strengthening of the dollar.

According to a recent survey, a downturn in manufacturing activity was less pronounced in the euro countries in November. And while European factories are still to face difficulties as winter comes, now there exists a possibility it wouldn't be extremely severe.