GPD

Key events:       USA – Core Durable Goods Orders (MoM) (Dec) USA – GDP (QoQ) (Q4)    USA – Initial Jobless Claims   USA – New Home Sales (Dec)    Although the U.S. PMI fell further in January, inflation did accelerate. It is still unclear whether the Fed should take a more dovish or hawkish stance – and that cannot help but affect gold.

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If a country's economy is growing, it means its citizens' standard of living is also growing. Or does it? Let's find out what gross domestic product is, how it relates to economic growth and living standards, and what inflation has to do with it. What is Economic Growth?

Key events: UK – GDP (MoM) UK – GDP (YoY) (Q3)  UK – GDP (QoQ) (Q3)   UK – Manufacturing Production (MoM) (Sep) UK – Monthly GDP 3M/3M Change   U.S. stock indices rose strongly in the first half of trading Thursday. A positive driver was the inflation data. In addition, the reporting season is nearing its end. According to the congressional election results, the Republicans are in the majority and this threatens with difficulties to coordinate the bills with the White House – Joe Biden is a Democrat.

Key events: Eurozone - CPI (YoY) (Oct)   The economy does not stand still, and the figures of more than three weeks ago do not reflect the current situation. Time, it should be said, has generally flattened lately, and what was going on a few weeks ago may well be considered "old times." For instance, the U.S. Consumer Confidence Index fell from 107.8 to 102.5 in October, and the manufacturing shipments index from the Richmond Fed fell to -10, instead of the -5 the market was forecasting.

  Key events: USA - Core PCE Price Index (MoM) (Sep) Canada - GDP (MoM) (Aug) USA - Pending Home Sales (MoM) (Sep)   The U.S. stock market fluctuated after data showed the U.S. economy grew in the third quarter after two quarters of declining output. The Dow Jones rose 305 points, or 1 percent, while the S&P 500 fell 0.1 percent and the NASDAQ Composite fell 0.7 percent.

Key events: USA — JOLTs Job Openings (Aug) Eurozone — ECB President Lagarde Speaks   The technical reversal pattern Shooting Star is formed on the weekly chart of the DXY index. Philosophical Japanese, who gave such a romantic name to this pattern, did not assume how exactly it would tell about the current situation. The superstar of the last year and a half, the unstoppable dollar, has shown this configuration on the W1 timeframe for the first time since it took off. So, the star is falling.  

  Key events: USA - GDP (QoQ) (Q2)   USA - Initial Jobless Claims   Canada - GDP (MoM) (Jul)   New Zealand - RBNZ Gov Orr Speaks The dollar rose to a new high as the pressure of rising U.S. interest rates on the global economy continues to intensify.

Key events: Eurozone - Euro Summit  Canada - Employment Change (Aug) Canada - Unemployment Rate (Aug)           The EUR/USD pair traded above 1.0000 in anticipation of the European Central Bank's monetary policy decision as demand for the dollar remained subdued. During the first half of the day Asian and European stocks struggled to continue rising, although most indices held on to most of their intraday gains. At the same time, government bond yields remained at the lower end of their weekly range.

Key events: United States - Trade Balance (Jul) UK - BoE Gov Bailey Speaks Canada - BoC Interest Rate Decision Canada - Ivey PMI (Aug) Japan - GDP (QoQ) (Q2) Australia - Trade Balance (Jul)