Consumer Price Index

 Key events: USA - Crude Oil Inventories The S&P 500 saw its gains trimmed on Tuesday as investors processed news of a decline in US consumer confidence, marking its lowest level since November. This development preceded further commentary from Federal Reserve officials and an upcoming key inflation report later in the week. The Dow Jones Industrial Average slipped by 31 points, or 0.2%, while the S&P 500 and NASDAQ Composite both experienced a 0.2% and 0.4% decline, respectively.

Key events: USA - FOMC Member Bostic Speaks US stock indices experienced a volatile session on Friday, ultimately closing with slight gains. However, these modest increases were insufficient to prevent the S&P 500 and Nasdaq Composite from commencing 2024 with their most significant weekly declines in months. All three major benchmarks marked their first weekly downturns in ten weeks, with the S&P 500 decreasing by 1.54%, the Nasdaq Composite slumping by 3.26%, and the Dow Jones Industrial Average dipping by 0.59%.

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Key events: Japan - BSI Large Manufacturing Conditions (Q4) USA - 3-Year Note Auction USA - 10-Year Note Auction Eurozone - ECB McCaul Speaks New Zealand - Electronic Card Retail Sales On Friday, the Dow experienced a rise, marking its lengthiest weekly winning streak since 2019. This surge was attributed to a stronger-than-expected jobs report, fostering optimism that the US economy would steer clear of a recession, coupled with ongoing speculations of an early rate cut in the coming year.

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Key events:   UK - BoE MPC Member Pill Speaks      USA - 3-Year Note Auction On Friday, the S&P 500 managed to eke out a slight gain, although it ended well below its peak for the session. Unfortunately, all three of Wall Street's major indices posted weekly declines as investors grappled with concerns about interest rates and anxiously awaited forthcoming US inflation data.

Key events:   USA - Initial Jobless Claims   USA - Philadelphia Fed Manufacturing Index (Aug) While European markets have experienced a lack of clear direction this week, displaying a slight downward trend, the FTSE 100 is poised to record its most significant weekly decline in over a month. The UK's inflation data released yesterday morning has boosted the value of the pound. However, it has simultaneously placed UK-centric stocks in a less favorable position.

The US dollar is one of the most widely traded currencies in the world and plays a crucial role in international trade and finance. As a result, many factors can impact the value of the US dollar, including economic indicators, geopolitical events, and changes in monetary policy. Understanding the various factors that affect the US dollar rate is essential for investors, traders, and businesses who rely on the currency for their transactions.

Key events:       USA – Core Durable Goods Orders (MoM) (Nov) USA – Core PCE Price Index (MoM) (Nov)   Canada – GDP (MoM) (Oct)   USA – New Home Sales (Nov)